Elon Musk · Sam Altman · Amazon · SpaceX · Tesla · Twitter · The Verge
Elon Musk will settle the feds’ Twitter suit with pocket change
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The SEC claimed Musk saved over $150 million by breaking the disclosure rules, now it’s settling for $1.5 million.
Key facts
The SEC claimed Musk saved over $150 million by breaking the disclosure rules, now it’s settling for $1.5 million
On May 4, 2026, the U.S. Securities and Exchange Commission filed an amended complaint to add the Elon Musk Revocable Trust dated July 22, 2003 (the “Revocable Trust”) as a defendant to this action
Now, as reported by Reuters, the SEC has added the Elon Musk Revocable Trust to its lawsuit, which will settle the case by paying a $1.5 million civil penalty without admitting wrongdoing
Last year, the SEC sued Elon Musk over the way his acquisition of Twitter (now X, and a part of SpaceX) started, and today it announced a settlement that looks like a massive bargain, while Musk’s
Summary
Last year, the SEC sued Elon Musk over the way his acquisition of Twitter (now X, and a part of SpaceX) started, and today it announced a settlement that looks like a massive bargain, while Musk’s own lawsuit against Sam Altman continues to play out. Now, as reported by Reuters, the SEC has added the Elon Musk Revocable Trust to its lawsuit, which will settle the case by paying a $1.5 million civil penalty without admitting wrongdoing or requiring Musk to cough up any of the money he allegedly saved. On May 4, 2026, the U.S. Securities and Exchange Commission filed an amended complaint to add the Elon Musk Revocable Trust dated July 22, 2003 (the “Revocable Trust”) as a defendant to this action. The SEC simultaneously moved for entry of a consent final judgment as to the Revocable Trust.