'I do not respect the SEC': Musk unleashes in '60 Minutes' interview

Elon Musk: ‘I Want to be Clear: I Do Not Respect the SEC’

Elon Musk: ‘I Want to be Clear: I Do Not Respect the SEC’

As part of Tesla's separate, but additional $20 Million settlement, the company would need to appoint a new Board Chairman (ultimately choosing Robyn Denholm for the spot), hire two independent board members, and police Musk's Tesla-related Tweets to ensure that they would not affect stock movement.

His problematic Twitter messages in August - about trying to take the company private - caused months of chaos, and the agency sought to improve the governance of a board long criticized for being too closely aligned with its billionaire leader.

Mr Musk agreed to a settlement that would allow Tesla oversight of his posts on Twitter, specifically of messages that could lead to share price moves.

"I do not respect the SEC", Musk said. "They needed to see that however hard it was for them, I would make it worse for me", he said in the interview.

A Tesla spokesperson confirmed to Business Insider that the company was in compliance.

He says he uses Twitter to express himself. (Barron's Avi Salzman made that point back in early November.) Musk also said it is "possible" that he might look to take on manufacturing capacity vacated by other auto makers as they pull back.

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Musk told "60 Minutes" that since the settlement, none of his tweets have been censored-and no one is reading them before they go out, according to a recap in the Wall Street Journal.

But Musk said "it's not realistic" to expect Denholm to watch over his actions because he remains the electric vehicle company's largest shareholder. "And I can just call for a shareholder vote and get anything done that I want", Musk said.

ELON MUSK: Well, I guess we might make some mistakes.

"I am the largest shareholder of the company", Musk proclaimed. Musk on nearly bankrupting Tesla to meet Model 3 production goals:There's been relentless criticism-relentless and outrageous and unfair.

"I actually prefer to have no titles at all", Musk said. Musk said he would not be interested.

The erratic chief executive of Tesla has said that the company's new chairwoman will have no control over him as he remains the largest shareholder. The Tesla Factory in Fremont, California is a former GM plant that closed in 2010 but reopened later that year under Musk.

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