Elon Musk made extra $156 million from his Twitter investment by failing to disclose his stake earlier | Businessinsider

  • 📰 BISouthAfrica
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 51%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Elon Musk made extra $156 million from his Twitter investment by failing to disclose his stake earlier

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

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 34. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Twitter boost as Musk appointed to the company’s boardElon Musk refiled the disclosure of his stake in Twitter Inc. to classify himself as an active investor, making the change after taking a seat on the social media company’s board.
Källa: BusinessTechSA - 🏆 24. / 61 Läs mer »