Elon Musk agrees to pay $20 million and quit as Tesla chairman in deal with SEC

$20 million to the SEC, losing the chairmanship for at least three years, while remaining CEO at Tesla? That doesn’t sound like all that bad a deal to us in light of what Musk did. It could have been much worse.

But it is true, America’s favorite crony capitalist does now have an obvious black mark on his record. (He’s got plenty, but they haven’t made huge headlines.) Musk’s probably made other $20,000,000 mistakes.

Now if only we can get him to go spark one up on Joe Rogan again and talk about the settlement. That’d be serious entertainment.

We’ll bet he passes on such an interview. Or is that puff, puff, passes?

(From CNN Tech)

Elon Musk agreed Saturday to step down as chairman of Tesla and pay a $20 million fine in a deal to settle charges brought this week by the Securities and Exchange Commission.

Under the settlement, which requires court approval, Musk will be allowed to stay as CEO but must leave his role as chairman of the board within 45 days.

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