On July 17, Senator Elizabeth Warren called on the U.S. Securities and Exchange Commission (SEC) to initiate investigations into two companies led by Elon Musk, namely Tesla and Twitter, due to potential legal and ethical issues
Warren began by reiterating concerns that she sent to Tesla in December 2022, all of which concern Musk’s dual leadership roles at Tesla and Twitter.
Warren alleged that, following Musk’s acquisition of Twitter, he possibly misused Tesla resources by transferring over 50 employees from Tesla to Twitter. Throughout her letter to the SEC, she suggested that employee transfers may have involved costs that are relevant to investors and said that the action could be a violation of state and federal law.
She also suggested that conflicts of interest could arise around promotion. Musk could conceivably boost Tesla in Twitter’s algorithms or provide Tesla with free advertising. Alternately, Twitter could accept advertisements from competing vehicle companies, ea
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