Elon Musk and brother reportedly face insider trading probe

CNN ^ | February 25, 2022 | Chris Isidore

[JoSixChip]

Tesla CEO Elon Musk and his brother are under investigation by the Securities and Exchange Commission for possibly violating insider trading rules, according to media reports. The Wall Street Journal, citing unnamed people familiar with the probe, said the investor watchdog agency is looking into sales of Tesla shares by Kimbal Musk, a member of the Tesla board, just before his brother, Elon, announced on Twitter that he would sell 10% of his own Tesla holdings, a move that sent Tesla (TSLA) shares sharply lower in the days that followed.

[Sacajaweau]

Insider trading? How does that work. He owns the company.

[butlerweave]

What about Nancy and other Congress Critters they already admitted it

[jerod]

He makes money because moron’s invest in his company that makes no money. There will come a day when those moron’s figure it out... Sadly, their investments will go poof!

[Fresh Wind]

No concern about the inside traders in congress, though.

[TheDon]

Don’t forget Canada!

[Spok]

Musk has crossed the cancel culture and must pay the price. The Deep State is also on it. Trump and Musk will hopefully endure, God willing.

[JonPreston]

Our international banking cartel is about to separate Elon Musk from his money. I have a feeling he has prepared himself.

[Theoria]

Elon loves China. He's great about bashing US politicians and trolling people. But, he knows not to bash China. Without China, he wouldn't be bringing in the dough. The costs of production so far in the US have been very high. The new production facilities in the us will have a tough time.

[robel]

Most of our corporations have acquiesced to the Left and the democrat controlled government. Tesla’s ESG score is average, which makes them a target. The Left won’t tolerate rogue behaviour, it threatens their groupthink mandate. Musk won’t assimilate.

[Leep]

She doesn’t even deny it.

[blackdog]

The federal juggernaut of dirty fu#%ery against Musk got the green light when he became vocal about leaving California over taxes. Labor union pranks, embedded federal agents spying as factory employees, surveillance, supplier attacks, raw material shortages, transportation sabotage, and SEC attacks.

Might as well change his name to "Elon Reardon".

[Michael.SF.]

Obviously, they are going after him simply because he is the most successful African-American in US history.

[Michael.SF.]

Salaries are costs, not profits. How much does Musk earn in salary as CEO of Tesla?

That is a small part of the answer to your quandary.

[cableguymn]

Didn’t he also call pelosi out for insider trading?

[blackdog]

If the stock is on the public stock exchange it must follow SEC rules. Both accounting methods and securities regulations. There are very strict rules about exercising stock options for company executives and board members and their families.

It's what helps keep our NYSE the gold standard in world markets. Other than politicians not following insider trading laws, the system is pretty solid for everyone else.

Now if a company doesn't want to use public capital, they can always do so as a private equity venture. Then they can do whatever they want.

[kiryandil]

Quick!

Run for CONgrift!

[joshua c]

elon has been a lil uppity lately

need to fire a shot across his bow

[silent majority rising]

He pissed off the Deep State, so I hope he has taken care of his business. I am not sure that anyone can resist as well as Trump has, but Musk might be just as stubborn.

[jdsteel]

Elon, meet Jack Ma.

You will have much in common to discuss.

[sergeantdave]

“It’s what helps keep our NYSE the gold standard in world markets. Other than politicians not following insider trading laws, the system is pretty solid for everyone else.”

Let us know when your beloved SEC goes after the naked short sellers.