{
    "success": true,
    "data": {
        "id": 1719128,
        "msgid": "elon-musk-finally-gives-in-resigned-to-paying-rp-26-billion-1777974834",
        "date": "2026-05-05 16:05:00",
        "title": "Elon Musk Finally Gives In, Resigned to Paying Rp 26 Billion",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Regulation",
        "summary": "Elon Musk has agreed to a settlement with the US Securities and Exchange Commission (SEC) after a four-year battle over his delayed disclosure of Twitter stock ownership, resulting in a $1.5 million civil penalty paid by a Musk trust, equivalent to Rp 26 billion. The SEC accused Musk of intentionally delaying the filing to buy additional shares at a depressed price, saving him $150 million at the expense of unsuspecting investors, though Musk denied wrongdoing and avoided disgorgement. This resolution, requiring court approval, highlights ongoing tensions between Musk and regulators, especially amid shifts in SEC leadership under the new Trump administration, raising questions about the agency's commitment to investor protection.",
        "content": "<p>Elon Musk has finally given in after battling for approximately four\nyears in a lawsuit regarding the acquisition of Twitter (now X). Musk\nhas agreed to a settlement in the case with the United States Securities\nand Exchange Commission (SEC), which has been ongoing since 2022.<\/p>\n<p>A trust in Musk\u2019s name will pay a civil penalty of US$1.5 million\n(Rp26 billion), based on the settlement announced on Monday (4\/5) in a\nfederal court in Washington, D.C.<\/p>\n<p>Musk did not outright admit fault. He also does not need to return\nthe US$150 million that was claimed to be savings due to Musk delaying\nthe settlement of the lawsuit.<\/p>\n<p>This settlement requires approval from US District Judge Sparkle\nSooknanan. In February 2026, Sooknanan rejected Musk\u2019s request to\ndismiss the case.<\/p>\n<p>Going further back, the dispute between Musk and the SEC has lasted\nmore than seven years. In 2018, the SEC sued Musk for securities fraud.\nAt that time, Musk tweeted that he had secured funding to take Tesla\nprivate.<\/p>\n<p>Musk settled that case by paying a civil penalty of US$20 million,\nallowing Tesla\u2019s lawyers to pre-approve certain Twitter posts, and\nstepping down as Tesla\u2019s chairman.<\/p>\n<p>\u201cMusk has now been cleared of all issues related to delays in filing\nforms in the Twitter acquisition, as we have said from the beginning,\u201d\nsaid his lawyer, Alex Spiro, in a statement.<\/p>\n<p>In the lawsuit filed in January 2025, the SEC stated that Musk\u2019s\n11-day delay in disclosing his initial 5% ownership of Twitter shares at\nthe end of March allowed him to purchase more than US$500 million in\nshares in early April 2022 at intentionally lowered prices. Musk later\ndisclosed 9.2% ownership.<\/p>\n<p>The SEC argued that Musk should pay a civil penalty and return the\nUS$150 million he allegedly saved at the expense of unsuspecting\ninvestors.<\/p>\n<p>Musk claimed the delay was unintentional and accused the SEC of\nviolating his free speech rights by targeting him.<\/p>\n<p>The SEC sued Musk six days before former US President Joe Biden left\nthe White House and was replaced by Donald Trump. The current SEC Chair,\nPaul Atkins, has refocused the regulator\u2019s enforcement priorities.<\/p>\n<p>\u201cThis is a shameful day for the SEC,\u201d said Amanda Fischer, former\nchief of staff to Gary Gensler, who led the regulator during the Biden\nadministration.<\/p>\n<p>She said the settlement \u201cshould make the public question whether the\nSEC is protecting White House insiders at the expense of ordinary\ninvestors.\u201d<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/elon-musk-finally-gives-in-resigned-to-paying-rp-26-billion-1777974834",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}