Published: Tue, December 11, 2018
Finance | By Jaime Brady

Elon Musk has 'no respect' for USA regulator

Elon Musk has 'no respect' for USA regulator

"I do not respect the SEC-I do not respect them" he said in an interview on the CBS network news program "60 Minutes". "Funding secured", Musk agreed that his "communications relating to the company... including Twitter" would be overseen by the Tesla board.

"I want to be clear", he says.

In response to being asked whether Denholm was appointed to watch over Musk "like a babysitter", he rejected the very idea.

Elon Musk on 60 Minutes. The part that requires pre-approval of communications that could affect the stock price technically must be in place by December 28, the company said.

Musk tried to artificially inflate his stock price by tweeting out that he was thinking of taking the company public. "If they were going to sell a plant or not use it that we would take it over", he said.

"The only tweets that would have to be, say, reviewed", would be if a tweet had a probability of causing a movement in the stock", Musk explained, "Otherwise it's "Hello, First Amendment".

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The complaint also claims Musk's plans were not discussed "with any potential financing partners, and he allegedly knew that the potential transaction was uncertain and subject to numerous contingencies". And I didn't really want to try to adhere to some CEO template. "I am the largest shareholder in the company". So essentially I could just pull for a shareholder vote and get anything that I want provided I could get support for at least a 1/3 of the other shareholders.

As Tesla pointed out, the settlement does not require oversight of Musk's Twitter feed until nearly the end of the year, so technically Musk has not broken the agreement.

Tesla, the $61 billion auto and energy company based in Palo Alto, California, specialises in manufacturing electric vehicles with autonomous features and solar panels through its Solar City subsidiary.

Later in the interview, Musk continued to slam the SEC's decision to strip him of his Board Chairman title. Stahl rebutted, questioning just how Musk could be awarded judgment to decide which of his Tesla-related tweets are actually monitored.

Musk said the long-awaited $35,000 version of the Model 3 will "probably" be available in five to six months. The Tesla Factory in Fremont, California is a former GM plant that closed in 2010 but reopened later that year under Musk.

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