Elon Musk: 'I want to be clear, I do not respect the SEC'
- Tesla CEO Elon Musk said he has no respect for the Securities and Exchange Commission during a 60 Minutes interview on Sunday evening.
- Musk also said that no one has reviewed any of his tweets posted since his settlement with the SEC.
- When asked if Tesla's new chairman was put in place to watch over Musk, he replied, "It's not realistic in the sense that I am the largest shareholder of the company and I can call for a shareholder vote and get anything done that I want," Musk said.
Musk reached a settlement with the SEC in late September that required him to pay $20 million and step down as Tesla's chairman for a minimum of three years. Tesla was also required to pay $20 million to the SEC as part of the deal.What's more, the SEC said Tesla must put "additional controls and procedures to oversee Musk's communications," including his tweets.
However, during the interview, Musk said no one has reviewed any of his tweets since the settlement with the SEC. When pressed on the topic, Musk said "I guess we might make some mistakes, who knows. Nobody's perfect."Musk also spoke candidly about how he felt about stepping down as Tesla's chairman. When asked if the new chairman was put in place to watch over Musk "like a babysitter," Musk said that wasn't the case. "It's not realistic in the sense that I am the largest shareholder of the company and I can call for a shareholder vote and get anything done that I want," Musk said.
When Musk was asked if he would like to go back to being chairman, he replied, "I prefer no titles at all."
Musk also said he doesn't "really want to try to adhere to some CEO template."Do you work at Tesla and have a story to share? Contact this editor at CThompson@BusinessInsider.com.
Get the latest Tesla stock price here.
- India is seeking details on the rise in Swiss bank deposits from the South Asian country
- A UN report says India's new IT rules do not conform with international human rights norms
- Legendary Indian sprinter Milkha Singh to be cremated with state honours in Chandigarh
- Father’s Day 2021 -- here is a list of some memorable quotes and greetings
- Weekly crypto roundup: Burry’s crypto crash prediction, rapper Raftaar accepting crypto, crypto mining migration, and more