It's mind blowing what Tesla and Musk are allowed to do.
And don't get me started about the doubletalk ! Musk clearly thinks he's above the law now (and for some reason, this seems to be the case for now). There are countless other examples, some are not even debatable.
For example, when he bought the first 9% of Twitter. Legally, he should have disclose that at 5% threshold - which he did not. It's estimated that it saved him ~$150 million. There is nothing to debate - the law is clear, and he intentionally did not disclose his buying. One would think that it's not a complicated case, yet still 1 year after there is nothing done ! Nothing. SEC is suing him now, but ... not really for wrongdoing ! They want to bring him to testify. I don't know what's going on, but clearly he's getting a lot of free passes.
That’s the problem when you get too big, isn’t it? Musk now has $149 million extra that he can spend on fighting legal battles with the SEC and still come out at least a million ahead. Does the SEC have $149m in spare resources to fight this fight?
Unfortunately this is the math I believe the enforcement agencies have to do.
What does $149M get you in a legal argument? I realize this must seem like a very naive question, but if the law said "you must disclose at 5%", and someone fails to do so, shouldn't that be a simple case?
And don't get me started about the doubletalk ! Musk clearly thinks he's above the law now (and for some reason, this seems to be the case for now). There are countless other examples, some are not even debatable. For example, when he bought the first 9% of Twitter. Legally, he should have disclose that at 5% threshold - which he did not. It's estimated that it saved him ~$150 million. There is nothing to debate - the law is clear, and he intentionally did not disclose his buying. One would think that it's not a complicated case, yet still 1 year after there is nothing done ! Nothing. SEC is suing him now, but ... not really for wrongdoing ! They want to bring him to testify. I don't know what's going on, but clearly he's getting a lot of free passes.