Elon Musk Mocks the SEC on Twitter: ‘Shortseller Enrichment Commission’

It is reported that Murdoch hasn't volunteered for the post nor has he discussed it with any other director.

Tesla CEOElon Musk seemed to take aim at the Securities and Exchange Commission in a tweet on Thursday, calling it the "Shortseller Enrichment Commission". The tweets had no basis in fact, and the ensuring market chaos hurt investors, it claimed.

A Thursday afternoon tweet (exactly a week after the SEC sued him) sarcastically praised the SEC's name - changing it to "Shortseller Enrichment Commission".

FILE PHOTO: A newly installed vehicle charger at a Tesla Super Charging station is shown in Carlsbad, California, U.S. September 14, 2018.

As a result, the SEC reportedly increased Musk's fine from $10 (£7.7 / €8.7) million to $20 (£15.4 / €17.4) million.

Elon Musk is taunting the government regulators who threatened to oust him as CEO of electric carmaker Tesla just days after he settled a case alleging he duped investors.

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Tesla declined to comment. A Fox Business Network scoop reports that the SEC is looking into mis-statements from Tesla about its Model 3 production goals.

The SEC filed a lawsuit on 27 September charging fraud and seeking to bar Musk from serving as an executive at any public company. After falling 4.4 percent during the regular trading session, Tesla's stock price fell by another two percent in the minutes after Musk tweeted.

"Elon appears to be resistant to signing this agreement" said Gene Munster, a managing partner at venture capital firm Loup Ventures.

Musk tweeted August 7 that he had "secured" funding to privatize the electric automaker at $420 a share, causing a brief spike in Tesla's share price. "The vast majority of settlements like this are approved by courts". Musk said on Twitter.

In court papers and at a news conference, the agency went to great lengths to spell out Musk's carelessness and erratic behaviour, highlighting his threat earlier this year to "burn" investors betting against Tesla stock.

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