Elon Musk says tweet which cost him $20m was 'worth it'

Elon Musk has said the tweet that cost him $20m (£15.5m) in fines by US Securities and Exchange Commissions was “worth it”. Tesla’s chief executive landed himself in hot water when he used the social media site to announce that he was thinking about taking the company private at $420 (£327) a share, adding that the “funding secured”. The tweets, which were found to have no basis according to regulators, caused market fluctuation and as a result, the SEC charged Musk for “misleading investors”.

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