Elon Musk under investigation over his takeover of Twitter

Being the richest man in the world will not dispense Elon Musk to be a litigant like the others. The Federal Trade Commission has opened an investigation into its first action in the capital of Twitter, formalized at the beginning of April. At 9.2%, it made him the majority shareholder of the social network.

US law requires shareholders to provide a declaration antitrust. An imperative that the Federal Trade Commission doubts that Elon Musk has fulfilled, according to a report consulted by The Information. He faces a fine of up to $43,792 a day. A trifle, for the director of Tesla and SpaceX.

According to the report, the investigation aims to clarify Elon Musk’s intentions. the New York Post reports that in the documents he filed on April 4 with the Financial Markets Supervisory Commission, the billionaire described his participation as passive.
A status contrary to his plan to sit on the board of directors of Twitter, and which he subsequently complied with, after a week of negotiations and provocations with regard to the blue bird. The seat reserved for him from April 9 would have made his participation active.

Elon Musk’s first purchase in early April was the first step in his ambition to take over Twitter for $44 billion on April 26.

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