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While Musk was at Tesla, the SEC found a way

May 19, 2017 by Ella Pickett

While Musk was at Tesla, the SEC found a way to let him off the hook. According to the report, "Musk was not authorized to conduct business with Tesla's parent company, the Elon Musk International Corporation . Tesla had an agreement with a third party that it would not share company assets. Tesla had no obligation to share company assets. Tesla had no obligation to take the steps described in the agreement."

The SEC found that Musk's "private, non-public statements" about these actions were "clearly false or misleading."

As you can imagine, it was a huge blow to Tesla shareholders, who were all in full support of Tesla's investment. At the time the SEC ruled that Tesla's stock price was too high, Musk was apparently being kept off the hook. This is a big deal. It's also a big red flag. In a company that owns over $20 trillion of shares, it's clear that Musk and his shareholders are being held liable for a much larger amount of this damage than a stock price drop. It's now hard to believe that Musk and his company didn't take the steps that were required to secure Tesla's investment.

Of course, a recent report also shows that Musk's stock price has fallen significantly in recent months (and that's the reason why the SEC's investigation turned up no financial data for Tesla).

If you've never heard of Tesla, you probably haven't heard of Jeff Bezos, who owns the entire internet. He's the founder and CEO of Amazon and has been the president of Amazon since 2010. His company has more than 200,000 employees worldwide, and he's already been named as one of the world's richest people. He has a book deal with HBO, but he's apparently been unable to get those deals, and even though he's been named by Forbes as the $5 billion richest person in the world, he's still trying to find another company like Amazon.

So, let us take a look at the situation that a few months ago brought in one of the richest people on the planet in Jeff Bezos. Jeff Bezos is a long-time investor in Amazon, and he recently told me that he is looking for ways to increase Amazon's revenues. The reason for this is simple. Amazon has the largest number of users in the world, and the company is going to be going on sales that are likely to be double or triple those that Bezos says are actually for sale.