The Entrepreneurs Weekly
No Result
View All Result
Monday, September 1, 2025
  • Login
  • Home
  • BUSINESS
  • POLITICS
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
Subscribe
The Entrepreneurs Weekly
  • Home
  • BUSINESS
  • POLITICS
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
No Result
View All Result
The Entrepreneurs Weekly
No Result
View All Result
Home Business

Elizabeth Warren Asks SEC to Investigate Elon Musk, Tesla | Entrepreneur

by Brand Post
July 18, 2023
in Business
0
Elizabeth Warren Asks SEC to Investigate Elon Musk, Tesla | Entrepreneur
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter


The ongoing feud between Senator Elizabeth Warren and billionaire Elon Musk is taking a legal turn as Warren is now calling for the Securities and Exchange Commission (SEC) to investigate Musk’s Tesla and its Board of Directors for an alleged conflict of interest regarding Musk’s $44 billion purchase of Twitter last fall.

The nine-page document, originally viewed by CNBC, accuses Musk of “conflicts of interest, misappropriation of corporate assets, and other negative impacts to Tesla shareholders” since purchasing Twitter, as well as accusing Tesla’s Board of “inaction and incomplete disclosures,” which “raise questions about possible violations of securities laws and exchange rules which fall under SEC’s jurisdiction.”

Related: Elon Musk Reignites Feud With Sen. Elizabeth Warren: ‘Maybe I Can Have a Cookie or Something’

Warren is calling for an investigation into Musk’s sale of Tesla shares in order to fund his takeover of Twitter (and using other financial resources from Tesla to complete the deal). The document also notes conflicts of interest regarding advertising, as some of Twitter’s big-name advertisers are direct competitors to Tesla, such as General Motors.

Senator Elizabeth Warren, a Democrat from Massachusetts, speaks during a Bloomberg Television interview on Capitol Hill in Washington, DC (Getty Images)

The senator is also alleging that Musk moved employees between the two companies, which could be breaching labor laws, and failed to disclose to shareholders how Tesla and Twitter have been collaborating.

Although Musk is still chief executive at Tesla, he stepped down as Twitter’s CEO in May and appointed former NBCUniversal executive Linda Yaccarino as the new leader of the company.

Related: Elon Musk Slams Elizabeth Warren, Calls Her ‘Senator Karen’: ‘Stop Projecting!’

Warren, however, maintains that Musk still has “significant control” over the company in his positions as both Executive Chairman of the Board and Chief Technology Officer and that he could make financial decisions at Twitter that could include “great deals for Tesla’s competitors and potential injury to Tesla.”

“Tesla is publicly owned, and Mr. Musk and the Board have responsibilities to shareholders and the public in their management of the company,” Warren’s letter reads. “Mr. Musk’s personal wealth – and his personal relationships with Board members – do not shield him or the Tesla Board from meeting basic SEC governance and disclosure rules.”

Elon Musk, billionaire and chief executive officer of Tesla, at the Viva Tech fair in Paris, France (Getty Images)

Over the weekend, Musk revealed that Twitter is still in a negative cash flow state and that the company is soldiering through a “heavy debt load” after losing about 50% of its advertisers.

Musk and Warren have sparred publicly in the past, with Musk most infamously calling Warren “Senator Karen” on Twitter after Warren called out the billionaire for “freeloading” and accused him of not paying taxes after he was named as Time’s “Person of the Year” in December 2021.

Musk has yet to publicly comment on Warren’s latest move. Twitter replies to press requests with poop emojis.



Source link

Tags: AsksBusiness NewsElizabethElonentrepreneurInvestigateMuskNews and TrendsSECTeslaWarren

Related Posts

Building Tech With No Experience Taught Me This Key Skill | Entrepreneur
Business

Building Tech With No Experience Taught Me This Key Skill | Entrepreneur

September 1, 2025
Web3’s Speed Is No Longer Optional. It’s the Path to Adoption. | Entrepreneur
Business

Web3’s Speed Is No Longer Optional. It’s the Path to Adoption. | Entrepreneur

September 1, 2025
How Generative AI Is Completely Reshaping Education | Entrepreneur
Business

How Generative AI Is Completely Reshaping Education | Entrepreneur

September 1, 2025
  • Trending
  • Comments
  • Latest
Meet Amir Kenzo: A Well Known Musical Artist From Iran.

Meet Amir Kenzo: A Well Known Musical Artist From Iran.

August 21, 2022
Behind the Glamour: Bella Davis Opens Up About Overcoming Adversity in Modeling

Behind the Glamour: Bella Davis Opens Up About Overcoming Adversity in Modeling

April 20, 2024
Dr. Donya Ball: Pioneering Leadership Solutions for Tomorrow’s Challenges

Dr. Donya Ball: Pioneering Leadership Solutions for Tomorrow’s Challenges

May 10, 2024
Nasiyr Bey’s Journey from Brooklyn to Charlotte: The Entrepreneurial Path to Owning a Successful Cigar Lounge

Nasiyr Bey’s Journey from Brooklyn to Charlotte: The Entrepreneurial Path to Owning a Successful Cigar Lounge

August 8, 2024
Augmented.City Startup Developers Appeal To US Politicians With An Open Letter

Augmented.City Startup Developers Appeal To US Politicians With An Open Letter

0
U.S. High Court Snubs Challenge To State And Local Tax Deduction Cap

U.S. High Court Snubs Challenge To State And Local Tax Deduction Cap

0
GOP Lawmaker Blames Biden For Russia-Ukraine War: Putin ‘Could never have Invaded’

GOP Lawmaker Blames Biden For Russia-Ukraine War: Putin ‘Could never have Invaded’

0
Brad Winget’s Tips and Tricks on Having a Career in Real Estate

Brad Winget’s Tips and Tricks on Having a Career in Real Estate

0
Building Tech With No Experience Taught Me This Key Skill | Entrepreneur

Building Tech With No Experience Taught Me This Key Skill | Entrepreneur

September 1, 2025
Web3’s Speed Is No Longer Optional. It’s the Path to Adoption. | Entrepreneur

Web3’s Speed Is No Longer Optional. It’s the Path to Adoption. | Entrepreneur

September 1, 2025
How Generative AI Is Completely Reshaping Education | Entrepreneur

How Generative AI Is Completely Reshaping Education | Entrepreneur

September 1, 2025
How to Overcome These 7 Hidden Purchase Barriers | Entrepreneur

How to Overcome These 7 Hidden Purchase Barriers | Entrepreneur

September 1, 2025

The EW prides itself on assembling a proficient and dedicated team comprising seasoned journalists and editors. This collective commitment drives us to provide our esteemed readership with nothing short of the most comprehensive, accurate, and captivating news coverage available.

Transcending the bounds of Chicago to encompass a broader scope, we ensure that our audience remains well-informed and engaged with the latest developments, both locally and beyond.

NEWS

  • Business
  • Politics
  • Entrepreneurship
  • Entertainment
Instagram Facebook

© 2024 Entrepreneurs Weekly.  All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
  • POLITICS
  • BUSINESS
  • CONTACT US
  • ADVERTISEMENT

Copyright © 2024 - The Entrepreneurs Weekly

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In