Inquires about CEO possibly using Tesla money to fund social media.
Senator Elizabeth Warren of Massachusetts wrote a letter to Tesla’s board chair Robyn Denholm this week expressing concern about the lack of oversight surrounding Elon Musk’s purchase of Twitter. The senator wrote, “The first weeks of Mr. Musk’s Twitter ownership have raised questions about possible violations of securities or other laws, including whether Mr. Musk is funneling Tesla resources into Twitter.”
Musk has made unusual business choices since his $44 billion purchase of Twitter in October. He has thus far sold $40 billion of his own stocks in Tesla to keep Twitter funded, has deployed Tesla engineers to help work on Twitter, and opened a public poll on the social media app asking whether users wanted him to step down as Twitter’s CEO.
Senator Warren requested a response to these concerns from Tesla’s board by January 3, 2023.
As the Lord Leads, Pray with Us…
- For senators and representatives as they investigate large business acquisitions and actions.
- For federal legislators to have discretion in their attempts at oversight of the private sector.
Sources: AP, Reuters
