Elon Musk charged with fraud (wanted to impress girlfriend with dagga reference)

(Also read: Elon Musk smokes dagga while being interviewed about space and stuff)

The US Securities and Exchange Commission (SEC) is charging the South African American billionaire for tweeting about taking Tesla private, at $420 a share.

The SEC wants Musk banned from serving as an executive or director of any public company.

It says that Musk misled investors and lied about having funding secured.

The SEC alleges that Musk arrived at the price of $420 per Tesla share because of the significance of the number in marijuana culture and to impress his girlfriend, the musician Grimes.

This is a breaking story, more to follow.

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
South Africa is flirting with recession. Again. How to 'create your own economy'

South Africa is flirting with recession. Again. How to 'create your own economy'

The timing could not be better to create your own economy, says small business guru Pavlo Phitidis.

2 out of 5 MPC members wanted to cut rates. Lesetja Kganyago said, 'No!'

2 out of 5 MPC members wanted to cut rates. Lesetja Kganyago said, 'No!'

Inflation is low; the economy is weak. But Lesetja Kganyago is taking no chances, says FNB's Mamello Matikinca-Ngwenya.

Enjoy life and save for the future by splitting income using the '50/15/5 rule'

Enjoy life and save for the future by splitting income using the '50/15/5 rule'

You only live once — personal finance guru Warren Ingram on divvying up your income if you're not the budgeting type.

You can now apply to generate electricity and feed it into the grid

You can now apply to generate electricity and feed it into the grid

The change comes after Energy Minister Jeff Radebe told the National Energy Regulator of SA to license applications to do so.

Former Morning Live co-anchor Tracy Going opens up, gets vulnerable about money

Former Morning Live co-anchor Tracy Going opens up, gets vulnerable about money

Former Morning Live co-anchor Tracy Going opens up about her attitude to money (hopes and fears, successes and failures, etc.).

Elon Musk smokes dagga while being interviewed about space and stuff

Elon Musk smokes dagga while being interviewed about space and stuff

"It may sound corny, but love is the answer. Spend more time with your friends and less time on social media,” said Elon Musk.

Popular articles
Enjoy life and save for the future by splitting income using the '50/15/5 rule'

Enjoy life and save for the future by splitting income using the '50/15/5 rule'

You only live once — personal finance guru Warren Ingram on divvying up your income if you're not the budgeting type.

South Africa is flirting with recession. Again. How to 'create your own economy'

South Africa is flirting with recession. Again. How to 'create your own economy'

The timing could not be better to create your own economy, says small business guru Pavlo Phitidis.

You can now apply to generate electricity and feed it into the grid

You can now apply to generate electricity and feed it into the grid

The change comes after Energy Minister Jeff Radebe told the National Energy Regulator of SA to license applications to do so.

[WATCH] Twin toddlers climbing a fridge has Twitter in stitches!

[WATCH] Twin toddlers climbing a fridge has Twitter in stitches!

Khabazela shares tweets and Facebook posts that have gone viral.

'If you want to clear your name, why would you postpone your swearing-in?'

'If you want to clear your name, why would you postpone your swearing-in?'

Former ANC MP Melanie Verwoerd says she is not convinced by David Mabuza's reason to temporarily step aside as an MP.

'Thuli Madonsela’s name has been mentioned for Deputy President'

'Thuli Madonsela’s name has been mentioned for Deputy President'

Lumkile Mondi (Wits), Ferial Haffajee and Busisiwe Mavuso (Business Leadership SA) on the President's upcoming "slim" Cabinet.

[Exposed] Car dealerships, banks in cahoots; you’re not always getting best deal

[Exposed] Car dealerships, banks in cahoots; you’re not always getting best deal

Consumer journalist Wendy Knowler uncovered evidence of banks sending dealer principles on holidays abroad for hitting targets.

Running Bidvest doesn’t scare me! - Mpumi Madisa (39)

Running Bidvest doesn’t scare me! - Mpumi Madisa (39)

Madisa will soon become Bidvest’s CEO and the only black woman CEO of a JSE Top-40 company. At 39, she’ll also be the youngest.