Elon Musk reached a deal with the Securities and Exchange Commission on Saturday that forces him to give up the chairman’s post for three years. He was under pressure from his lawyers and investors of Tesla. This settlement will cause him to step down as chairman for 3 years and pay a $20 million fine.
Analysis: To see Elon Musk have to step down from his own company for 3 years and pay a $20 million fine seems pretty sad to me and I wonder what he'll be doing through those three years and how the company will run and continue through out the time without him.
I think the reason Elon Musk got this punishment was because he committed fraud in the stock market by misleading investors that Tesla was going private. Thereafter, the company's stock increased by a lot, but it looks like he lied about that. Overall, a great article.
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