Musk again criticized the SEC, this time more intensely, he said that SEC officials are Basstards, meaning that they are villains. Why is Musk so annoyed? Because musk tweeted in 2018 that he would take Tesla private, the SEC believes that his approach is suspected of fraud.
Just on Thursday, Musk tweeted again that he was going to buy Twitter for $43 billion, and Musk publicly criticized the SEC when he attended the meeting in Vancouver.
MUSK SAID THAT WHEN HE TWEETED THAT TESLA WOULD BE PRIVATIZED, THE FUNDS WERE ALREADY GUARANTEED, BUT THE SEC LAUNCHED AN INVESTIGATION. MUSK TOLD THE AUDIENCE: “I WAS FORCED TO MAKE ILLEGAL CONCESSIONS TO THE SEC. THESE VILLAINS! ”
ACCORDING TO MUSK, HE WAS FORCED TO SETTLE WITH THE SEC, AND IF HE DIDN’T, THE BANK WOULD STOP PROVIDING FUNDS, SO TESLA WOULD GO BANKRUPT IN AN INSTANT. MUSK SAID: “THIS KIND OF BEHAVIOR IS LIKE HOLDING A GUN TO YOUR CHILD’S HEAD AND FORCING YOU TO OBEY.” HE ADDED: “I WAS FORCED TO ADMIT THAT I LIED, IT WAS TO SAVE TESLA, THAT’S THE ONLY REASON.” ”
Information released a few days ago said Musk already held more than 9 percent of Twitter’s stake, and the company invited Musk to join the board, which he declined. Musk’s Twitter stake, which reaches 5 percent, is required to disclose its holdings by March 24, which Musk didn’t disclose until April 4, which should lead to an investigation.
Why buy Twitter? Musk said he believes “it is extremely important to provide an inclusive arena for free speech.” He believes that Twitter’s algorithm should become open source and that background code should be placed on the Github platform. Asked if Musk had enough money to complete the privatization deal, Musk said, “I have enough assets, if possible I can do it.”