Musk Agrees to Pay $1.5 Million Over SEC Twitter Stake Case

Elon Musk agreed to pay $1.5 million to settle Securities and Exchange Commission allegations that he cheated Twitter shareholders in 2022 by failing to properly disclose his growing stake in the social media company.

An Elon Musk revocable trust would pay the penalty to end the SEC’s lawsuit under the plan, which is still subject to court approval. Musk didn’t admit to the regulator’s allegations, according to a filing on Monday.