SOURCE - Tesla co-founder and CEO Elon Musk has settled a lawsuit filed by the United States Securities and Exchange Commission (SEC). Though he admitted no wrong-doing, the billionaire agreed to pay a $20 million fine and step down as the company’s chairman for a three-year period for using his personal Twitter account to announce he had the funding secured to take Tesla private. The California-based automaker also agreed to make leadership reforms and pay a $20 million fine for not vetting the information Musk writes on Twitter.
I've always looked up to Elon Musk and his genius but this has not been a good month for him or his company, Tesla. He caught a ton of heat for smoking a doobie with Joe Rogan on his podcast, got in trouble with the Security and Exchange Commission when he said he was going to take Tesla private, and he even called the guy who was rescuing children in Thailand a pedophile. Not good, Elon. Not good. Look I think Musk is awesome and pure genius. I think Space X and Tesla are going to be the future but it looks like they will go without Musk unfortunately. For me, this is like that moment your parents catch you drinking or smoking and look you dead in the eye and say "I'm not mad, I'm disappointed."