Ridiculous

[nonilex@masto.ai]

Ridiculous

#ElonMusk settles #SEC lawsuit over #Twitter disclosures, $1.5 million fine imposed

#Musk settled the SEC's civil lawsuit accusing the world's richest person of waiting too long in 2022 to disclose his initial ‌purchases of Twitter, now known as #X.

A trust in Musk's name will pay a $1.5 million civil penalty, WITHOUT admitting #wrongdoing.

Musk won't have to give up ANY money he allegedly saved from the delay.

#law #billionaires #accountability #scammer
https://www.reuters.com/world/elon-musk-settles-sec-lawsuit-over-twitter-disclosures-trust-will-pay-15-million-2026-05-04/?utm_source=braze&utm_medium=notifications&utm_campaign=2025_engagement

[darthsandwich@mastodon.social]

@Nonilex

Scaling his net worth to my net worth, this penalty works out to about a buck 85.

‍️

[alexlubertozzi@mastodon.social]

@Nonilex Musk is worth what, $500 billion? $1.5 million is .000003 of his wealth. To put that in slightly more relatable terms, if your net worth was $2 million, a comparable fine would be $6.

[thumper1964@mindly.social]

@Nonilex @JonChevreau So he just had to give them the change between the cushions of his couch. Got it.