Will Elon Musk ever learn? Even after being fined $20 million for a single tweet and sued for fraud … he’s back.
Tesla CEO Musk may have settled with the U.S. Securities and Exchange Commission over that August tweet claiming he had the funds to take his electric car company private, but that hasn’t stopped the eccentric billionaire from tweeting.
Part of Musk’s settlement from last week is an agreement to reign in his tweeting habits. Per the terms of the settlement: “Tesla will establish a new committee of independent directors and put in place additional controls and procedures to oversee Musk’s communications.” Musk must also step down as chairman of the board (he gets to stay on as CEO), and in addition to his penalty of $20 million, Tesla has been fined another $20 million.
It seems that the committee will start overseeing things in a few months, so we have about 80 days remaining of potential Twitter adventures with Musk.
Okay, some info:
The agreement for oversight of Elon’s tweets does not take effect for 90 days from the settlement date, per source.
So he still has ~80 days to tweet whatever he wants.