Elon Musk loses US1b in two minutes as Tesla shares tumble

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3 billion on the Bloomberg Billionaires Index as of 9. That settlement called for Musk to step down as Teslas chairman California based company. Tesla still appears to be unwilling to exercise any meaningful control over the conduct of its CEO she said. this is a timeline from the associated press of the latest on tesla ceo elon musks legal problems. Securities and Exchange Commission has told a judge that Tesla CEO Elon Musk should face substantial escalating fines if he keeps violating a deal with the SEC. The SEC says Tesla founder and CEO Elon Musk violated a securities fraud deal by tweeting about the electric car makers vehicle production without a lawyers approval. Musks settlement with the SEC stemmed from his tweets last year claiming to have the financing to take Tesla private. Securities and Exchange Commission and Tesla CEO Elon Musk to settle a dispute over what he may disclose in his tweets. A lawyer for the SEC told the court that Musk should face substantial escalating fines if he keeps violating a deal with the agency

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