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What really received people’s attention though was Musk’s tweet in early August, saying he was “contemplating” taking Tesla non-public and had enough funds secured to buy the corporate at $420 per share. (He stated he arrived at the quantity by rounding up from $419 per share, but it is hard to not see it as a pot joke.) The Securities and Exchange Fee received involved when it turned out the funding wasn’t secured, issuing a subpoena as it investigated whether or not Musk had “intentionally misled traders.” In September, Tesla and Musk settled with the SEC, paying a mixed $40 million wonderful. Musk also agreed to step down as chairman of Tesla, appoint two new impartial administrators to the company’s board and create a committee of impartial administrators to oversee Musk’s communications (i.e. his tweets).

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