Elon Musk Agrees to Testify in SEC Investigation on Twitter Acquisition

Elon Musk, the billionaire entrepreneur and CEO of Tesla and SpaceX, has agreed to testify in the Securities and Exchange Commission’s (SEC) investigation into his $44 billion acquisition of Twitter. This comes after the SEC opened an investigation in 2022 into Musk’s failure to properly disclose his stake in Twitter. The SEC filed a lawsuit against Musk last October after he refused to testify in the agency’s probe, claiming that he “abruptly notified the SEC staff that he would not appear” for his scheduled deposition.

A legal document filed on Thursday shows that Musk waived his right to appeal a court order that requires him to testify. This means that Musk will have to appear at one of the SEC’s offices for an up to five-hour interview. Although a date has already been agreed upon between Musk and the SEC, it has not been disclosed “for confidentiality purposes.”

This is not the first time Musk has had run-ins with the SEC. Earlier this year, the SEC accused Musk of trying to delay the investigation. Musk has also accused the SEC of “unrelenting” harassment and of stifling his free speech. These tensions between Musk and the SEC have been ongoing and have escalated due to Musk’s refusal to comply with the agency’s requests.

Musk’s agreement to testify in the SEC investigation could have significant implications for his business dealings and reputation. As a high-profile figure in the tech and investment industries, Musk’s actions and statements are closely scrutinized. His willingness to participate in the SEC’s investigation could help to clarify any misunderstandings or miscommunications that have arisen.

Elon Musk’s agreement to testify in the SEC investigation into his acquisition of Twitter is a significant development in the ongoing saga between Musk and the regulatory agency. By agreeing to participate in the investigation, Musk is taking a step towards resolving the conflict and addressing the SEC’s concerns. The outcome of Musk’s testimony could have far-reaching consequences for both Musk and the companies he leads. It remains to be seen how this latest chapter in the Musk-SEC saga will unfold.