Elon Musk To Sell Physical Possessions: Elon Musk

on
Photo credit: NASA/Aubrey Gemignani, under Creative Commons license

Elon Musk, the famed CEO of electric car manufacturer Tesla and aerospace company SpaceX, has tweeted out something unusual once again, this time, stating that he's "selling almost all [of his] physical possessions" and "will own no house". He, however, states of one exception, a Bel-air mansion previously owned by American entertainment legend Gene Wilder, which Musk purchased for $6.8 million in 2013.



Musk recently embarked on what can be termed as a tweet rampage, tweeting out links and statements in support of rolling away lockdowns across the U.S. that were enacted to help curtail the coronavirus pandemic, alongside other eccentric statements. Excerpts from his tweets include "FREE AMERICA NOW", "Why forced isolation is bad", and "Yes, reopen with care & appropriate protection, but don’t put everyone under de facto house arrest".







To top it all, Musk tweeted out something ironic; that the stock price of Tesla, the automaker he chairs, is "too high". It seems very weird that the CEO of a company tweets out that the stock price of his company is too high, given that his/her financial and leadership benchmark is often tied to share price increases. Elon Musk's tweet sent Tesla shares plunging by over 10% during trading on Friday. Such a tweet could be in violation of an agreement he made with the U.S. Securities and Exchanges Commission (SEC) after getting fined to the tune of $20 million also for a previous tweet where he implied that he was taking publicly-traded Tesla private with "funding secured" although there was no concrete evidence of such funding being secured.

Elon Musk's agreement with the SEC entailed avoiding tweeting about Tesla's financial condition or guidance without seeking pre-approval from a securities lawyer. It's uncertain, however, if his "too high" tweet violates that condition.







Comments

Post a Comment