Elon Musk to Pay $1.5 Million to Settle SEC Lawsuit Alleging He Failed to Disclose Twitter Share Purchases Ahead of Acquisition

May 5, 2026 7:36am PT Elon Musk to Pay $1.5 Million to Settle SEC Lawsuit Alleging He Failed to Disclose Twitter Share Purchases Ahead of Acquisition

By Todd Spangler

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Todd Spangler

NY Digital Editor

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WASHINGTON, DC - NOVEMBER 13: Elon Musk listens as U.S. President-elect Donald Trump addresses a House Republicans Conference meeting at the Hyatt Regency on Capitol Hill on November 13, 2024 in Washington, DC. As is tradition with incoming presidents, Trump is traveling to Washington, DC to meet with U.S. President Joe Biden at the White House as well as meet with Republican congressmen on Capitol Hill. (Photo by Andrew Harnik/Getty Images)

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Tech mogul Elon Musk, the world’s wealthiest individual with a net worth currently estimated at $659 billion, agreed to pay a $1.5 million civil penalty to settle an SEC lawsuit accusing him of failing to properly disclose stock he was amassing in Twitter in violation of securities laws.

Musk consented to the settlement “without admitting or denying the allegations,” according to the SEC’s legal filing in the U.S. District Court for the DC District, entered Monday (May 4). The settlement also “permanently restrains and enjoins” Musk’s trust “from violating Section 13(d) of the Securities Exchange Act of 1934.”