Billionaire Elon Musk appears to have revealed that the Securities and Exchange Commission has issued him with a “request for settlement,” sharing the news in a post on his social media platform X.
On Thursday night, Musk wrote a letter from his attorney to SEC Chairman Gary Gensler in response to a proposed settlement by federal regulators related to the investigation into the $44 billion acquisition of Twitter Inc., which Musk later renamed X. I posted a document with content that seems to be.
The SEC asked Musk to pay an undisclosed fine or agree to “a number of charges” to resolve charges related to the Twitter acquisition, according to a letter shared by Musk. It is said that there is
Musk, perhaps feeling emboldened by his deep ties to President-elect Donald Trump and the incoming administration, scoffed at the idea, sharing an image of his lawyer’s response to the SEC regarding “I wonder if he can do something like this.” ? ”
The letter also revealed that Musk’s lawyers have been subpoenaed by the SEC to testify, and that the federal agency has reopened an investigation into another of Musk’s companies, Neuralink.
In a letter posted by Musk, his lawyers wrote: “This series of events was not motivated by the commission’s pursuit of the truth, but rather a campaign of ulterior motives against Musk and the individuals and companies associated with him. It has been made clear that he is engaged in
Elon Musk, CEO of Tesla and co-chair of the newly announced Department of Government Efficiency (DOGE), arrives at the Capitol in Washington, DC, on December 5, 2024.
Anna Moneymaker/Getty Images
The lawyers also demanded to know “who directed these actions, you or the White House?”
“This tactic and misguided plan do not threaten us,” Musk’s lawyers wrote.
Representatives from the SEC did not respond to ABC News’ requests for comment.
Musk is likely to soon find himself in an even better position at the SEC, as the billionaire has emerged as one of President Trump’s top advisers and is heavily involved in the president-elect’s transition.
President Trump has nominated Paul Atkins, CEO of Patomac Global Partners, to run the SEC in the new administration. Atkins is expected to be more pro-business and crypto-friendly than the current SEC leadership.
After last month’s election, President Trump announced that Musk and fellow billionaire Vivek Ramaswamy would lead the new administration’s Office of Government Efficiency Advisory Council.
