During Trial, Elon Musk Speaks About CEO Role at Twitter and Reiterates Criticism of SEC Elon Musk, CEO of Tesla and SpaceX, claims that his position as CEO of Twitter, which he has recently acquired, is temporary, and offers softer criticism of the SEC.
By Main Street Sentinel Staff
Elon Musk, the world’s wealthiest man, who recently also became the owner of popular social media platform Twitter, spoke in court on Wednesday about his intentions for the website. “I expect to reduce my time at Twitter and find somebody else” to eventually run the company, Musk said.
The issue of Musk as CEO of a company was germane to the proceedings because he is currently being sued by Richard J. Tornetta, a shareholder of electric vehicle maker Tesla. Musk is also the CEO of Tesla, as well as the defense contractor SpaceX. Tornetta’s suit alleges that Musk’s 2018 compensation at Tesla was unreasonably large.
Musk has claimed that his work as CEO has more to do with science than business. “CEO is often viewed as somewhat of a business-focused role but in reality, my role is much more that of an engineer developing technology,” he said.
He added that his recent request to Tesla employees to volunteer their time at Twitter was “voluntary” rather than mandatory. He also reiterated earlier criticisms of the Securities and Exchange Commission, saying that the “SEC fails to investigate things that they should and places far too much attention on things that are not relevant.” The SEC fined Musk after a 2018 tweet that affected the price of Tesla shares.