SEC Wants Musk to Pay Money or Face Charges: Lawyer

The agency has also reopened a probe into the Musk-owned Neuralink, according to a letter.

X owner Elon Musk participates in a town hall-style meeting at Ridley High School in Folsom, Pa., on Oct. 17, 2024. Anna Moneymaker/Getty Images

The U.S. Securities and Exchange Commission (SEC) on Dec. 11 demanded a settlement from Elon Musk to avoid charges related to his purchase of Twitter, now known as X, according to a letter from Musk’s lawyer to the agency.

Musk bought Twitter in 2022 for $44 billion. That year, the SEC launched an investigation into whether he violated federal securities laws through his purchase, statements, and SEC filings.