Elon Musk Faces SEC Fine Over 2022 Twitter Share Purchases

Elon Musk disclosed on X that the U.S. Securities and Exchange Commission (SEC) has demanded him to pay an undisclosed fine for failing to disclose his initial purchases of Twitter shares in 2022.

Elon Musk’s lawyer, Alex Spiro, shared a letter revealing that Musk has just 48 hours to agree to a settlement with the SEC or face potential charges. The SEC, which has not commented on the matter, reportedly issued this demand under instructions from higher authorities. Musk, who has long had a tense relationship with the SEC, rejected the fine, claiming the agency’s actions were politically motivated. His ongoing battle with the SEC traces back to a 2018 settlement over tweets that misled investors about Tesla’s privatisation plans.