Elon Musk, the owner of Tesla and SpaceX (along with other adventurous ventures), who made extensive use of Twitter, announced Monday the closing of the account.
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— Daddy DotCom (@elonmusk) June 17, 2019
In August 2018, Musk published the problematic tweet about Tesla becoming a private company, which led to a sharp jump in the share price. Within a few days, it turned out that even if he wanted to, at the time of the announcement it was clear that the possibility of such a move did not actually exist, which quickly led to the opening of an investigation by the Securities and Exchange Commission (SEC).
At the end of the investigation, Musk reached an agreement with the Authority, in which he was ordered to pay a fine of $20 million, and a similar sum would be paid by Tesla. The more severe punishment included the imposition of Musk’s resignation from the post of chairman, and the continued leadership of Tesla as CEO only.
It was also determined that every tweet of Tesla would be forwarded to the company for approval before it was published.
A few months ago, Musk again got into trouble with the SEC after a tweet about the company’s expected data. This tweet was published without prior approval of the company, as required. The SEC filed a suit for contempt of court. This affair ended with another arrangement that tightens the company’s supervision on Musk’s tweets.
Another famous entanglement of Musk on Twitter which is currently being heard in the courts in England touched one of the rescuers of the Thai soccer players who were buried in a cave during the Monsoon period. The rescuer, who criticized Musk’s plan to rescue the boys, was nicknamed “ped” (short for pedophile). A few months passed and the bailiff filed a libel suit against the chattering businessman.