The United States Securities and Exchange Commission (SEC) opened an investigation to determine if the president of Tesla, Elon MuskAnd his brother Kimbal Musktrafficked information in the sale of shares, as reported by The Wall Street Journal.
Elon Musk is currently considered the man richest in the world thanks to the 14% rise in the shares of Tesla Motors at the beginning of this year. With a fortune of approximately $200 billionMusk has also been considered the most successful entrepreneur of 2020 despite the global situation.
However, both he and his brother are in an investigation procedure after Kimbal Musk’s sale of shares valued at 108 million dollarsthe day before a tweet from his brother asking his subscribers whether or not he should give up 10% of his shares in the electric vehicle company.
What is the research about?
The thing is to know if Elon Musk warned his brotheralso a member of the Tesla board of directors, that he was going to post that tweet and if Kimbal Musk put the shares up for sale as a result.
Employees and officers of a listed company they should not buy or sell shares when they are aware of company information that has not been released to the public.
How does Elon Musk become a millionaire?
the sale of PayPal raised his fortune to 180 million: the time has come to found Tesla. However, Musk still had a stake in the company. When eBay bought PayPal for $1.5 billion in 2002, Musk made a mega-fortune of $180 million from the deal.
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