Tesla Inc Chief Executive Elon Musk said the tweet that cost him and the company $20 million in fines each by the U.S. Securities and Exchange Commision was "Worth It".
The tweet, sent late Friday evening less than an hour before Musk tweeted that he would take a break from Twitter "for a few days," was in response to a question from a Twitter follower.
The SEC in September charged Musk, 47, with misleading investors with tweets on Aug. 7 that said he was considering taking Tesla private at $420 a share and had secured funding. The tweets had no basis in fact, and the ensuing market chaos hurt investors, regulators claimed.
Tesla Inc and Elon Musk have agreed to pay $20 million each to financial regulators and the billionaire will step down as the company's chairman but remain as chief executive, under a settlement.
Under the settlement agreement, Tesla needs to appoint an independent chairman by Nov. 13.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
"Lies, Cheats, Rapes": Indian-Origin Billionaire vs Elon Musk Over Trump Pendulum Swung To Republican Party: Elon Musk's Jab After Biden Announcement Elon Musk Congratulates PM Modi On Becoming Most Followed Leader On X Centre Rules Out Special Status For Bihar, Lalu Yadav's Party Takes A Swipe "Cops Can't Force...": Supreme Court Pauses Kanwar Yatra Food Stalls Order Elon Musk Reacts After Vivek Ramaswamy's Biden Prediction Goes Viral Why Indian Students Still Opt For Finland Despite Tuition Fee Surges Nutrition Tips: 10 Foods Combinations That Boost Their Nutrient Absorption 2 Boys, Listening To Songs On Earphones On Railway Track, Run Over By Train Track Latest News Live on NDTV.com and get news updates from India and around the world.