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
Eskom board 'firmly' behind appointment of new CEO, Numsa says it's a setback

Eskom board 'firmly' behind appointment of new CEO, Numsa says it's a setback

Andre de Ruyter, who is currently the CEO of packaging group Nampak, will take over from Phakamani Hadebe.

Banks play a role in driving the sustainability of natural resources

Banks play a role in driving the sustainability of natural resources

Absa is among 130 banks from 49 countries committing to the UN Principles for Responsible Banking, says Shirley Webber (Absa CIB).

Karatbars – is it a scam? The case for and against…

Karatbars – is it a scam? The case for and against…

Bruce Whitfield interviews senior Karatbars representatives, a financial advisor and someone who was invited to its conference.

Schools don’t teach personal finance - how to raise a future millionaire

Schools don’t teach personal finance - how to raise a future millionaire

Personal finance expert Warren Ingram (Galileo Capital) on how to raise financially free children.

The Duchess - the story behind the world’s first non-alcoholic gin & tonic

The Duchess - the story behind the world’s first non-alcoholic gin & tonic

Launched in 2016, The Duchess has won numerous awards and successfully broke into the UK, Belgium and the Scandinavian countries.

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
[WATCH] Guy eye-rolls after girlfriend takes selfie, has social media talking

[WATCH] Guy eye-rolls after girlfriend takes selfie, has social media talking

Khabazela shares tweets and Facebook posts that have gone viral.

'The problem is incompetent SAA management staff and thieving'

'The problem is incompetent SAA management staff and thieving'

SAA Pilot's Association former chair, Captain Piet Taljaard says the core does all the work while management is clueless.

Schools don’t teach personal finance - how to raise a future millionaire

Schools don’t teach personal finance - how to raise a future millionaire

Personal finance expert Warren Ingram (Galileo Capital) on how to raise financially free children.

What is better - money in the bank or investing in shares?

What is better - money in the bank or investing in shares?

Personal finance expert Warren Ingram offers a definitive answer with an explanation ordinary people can understand.

How to retire while you’re still young(ish)

How to retire while you’re still young(ish)

If you do things differently, it’s possible stop working far earlier than you ever thought possible, says Warren Ingram.

[LISTEN] Steinhoff explained: 100 times more looted in Steinhoff saga than VBS

[LISTEN] Steinhoff explained: 100 times more looted in Steinhoff saga than VBS

Steinhoff’s Web of Deception: An Explainer with Financial Mail journalist Warren Thompson.