Had he disclosed his investment according to SEC guidelines, which require a disclosure when a shareholder accumulates more than 5% of a company's stock, the remaining 4.1% he purchased would've cost a lot more money: Approximately $156 million more, according to legal and securities experts speaking with the Washington Post.
That's assuming that the stock price would've risen by the same amount had Musk disclosed his investment earlier, and that Musk would've purchased the same overall amount of Twitter stock. Musk could face a fine from the SEC, but it's unlikely to come anywhere close to the $156 million he earned by not disclosing his investment earlier, experts told the Washington Post.He's to begin serving as soon as is bureaucratically possible , with a term expiring in 2024, it said. As part of the conditions of his appointment, Musk isn't allowed to"become the beneficial owner of more than 14.
Musk is a longtime Twitter user, where he's often used his account to share memes, Tesla news, crude jokes, and even to criticise Twitter itself. Receive a daily news update
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