SEC reportedly probes Tesla CEO Elon Musk and brother over recent stock sales

4 yıl önce

In this article

Elon Musk, Founder and Chief Engineer of SpaceX, speaks during the Satellite 2020 Conference in Washington, DC, United States on March 9, 2020.

Yasin Ozturk | Anadolu Agency | Getty Images

The Securities and Exchange Commission is investigating whether recent stock sales by Tesla CEO Elon Musk and his brother Kimbal Musk violated insider trading rules, the Wall Street Journal reported Thursday, citing people familiar with the matter.

The probe began last year and centers on stock sales made by Musk and his brother last November, according to the Journal. At the time, Musk unloaded nearly $5 billion of Tesla stock, SEC filings showed.

The stock sales came one day after the Tesla CEO asked his tens of millions of Twitter followers to vote in an informal poll, telling them their vote would determine the future of his Tesla holdings.

Read the full report from the Journal here.

This story is developing. Check back for updates.