Elon Musk Finally Gives In, Resigned to Paying Rp 26 Billion
Elon Musk has finally given in after battling for approximately four years in a lawsuit regarding the acquisition of Twitter (now X). Musk has agreed to a settlement in the case with the United States Securities and Exchange Commission (SEC), which has been ongoing since 2022.
A trust in Musk’s name will pay a civil penalty of US$1.5 million (Rp26 billion), based on the settlement announced on Monday (4/5) in a federal court in Washington, D.C.
Musk did not outright admit fault. He also does not need to return the US$150 million that was claimed to be savings due to Musk delaying the settlement of the lawsuit.
This settlement requires approval from US District Judge Sparkle Sooknanan. In February 2026, Sooknanan rejected Musk’s request to dismiss the case.
Going further back, the dispute between Musk and the SEC has lasted more than seven years. In 2018, the SEC sued Musk for securities fraud. At that time, Musk tweeted that he had secured funding to take Tesla private.
Musk settled that case by paying a civil penalty of US$20 million, allowing Tesla’s lawyers to pre-approve certain Twitter posts, and stepping down as Tesla’s chairman.
“Musk has now been cleared of all issues related to delays in filing forms in the Twitter acquisition, as we have said from the beginning,” said his lawyer, Alex Spiro, in a statement.
In the lawsuit filed in January 2025, the SEC stated that Musk’s 11-day delay in disclosing his initial 5% ownership of Twitter shares at the end of March allowed him to purchase more than US$500 million in shares in early April 2022 at intentionally lowered prices. Musk later disclosed 9.2% ownership.
The SEC argued that Musk should pay a civil penalty and return the US$150 million he allegedly saved at the expense of unsuspecting investors.
Musk claimed the delay was unintentional and accused the SEC of violating his free speech rights by targeting him.
The SEC sued Musk six days before former US President Joe Biden left the White House and was replaced by Donald Trump. The current SEC Chair, Paul Atkins, has refocused the regulator’s enforcement priorities.
“This is a shameful day for the SEC,” said Amanda Fischer, former chief of staff to Gary Gensler, who led the regulator during the Biden administration.
She said the settlement “should make the public question whether the SEC is protecting White House insiders at the expense of ordinary investors.”