Elon Mask, 47, was not only close to the sun. At one point, Mr Mask pretended that this type of business, which did not represent space and the internal combustion engine, was a complex obstacle; it was the next frontier for his companies: SpaceX and Tesla, the perfect business management model. For others, however, it is the same symbol of the unruly leadership of erratic and arrogant companies

The above statement is now fully applicable to the chairman of Tesla-Tesla and its chief executive Elon Mask, who seems to be living an unpleasant period in his career after a series of events in the past few days In the past, causing a series of wounds resulting from his outbursts

On Saturday, Masque, under pressure from his lawyer and investors at Tesla, the company he co-founded in 2008, reached an agreement with the Securities and Exchange Commission (SEC) to settle charges against him for securities fraud

The settlement was announced two days after a lawsuit was filed against Mask to mislead investors because of its Twitter posting last August, in which he said he had secured money to buy an electric car company at a price of $ 420 per share to implement the withdrawal from the bourse

Which caused the shares to rise briefly after the twinkle, but fell again. On the day of Mashak, Tesla rose almost 9% and then dropped significantly since then, causing a lot of confusion among investors, Who were affected by this false news
US securities regulators filed a complaint against Elon Mask, alleging that he made false and misleading statements about plans to turn Tesla into private ownership

Which led to a $ 20 million settlement of the Securities and Financial Supervisory Commission (CSE), for which Masque bears personal responsibility. This also comes as an agreement to step down as Tesla president and not to run for three years, The decision must be implemented within 45 days

This is in addition to the addition of two independent directors to replace Masque on the company's 9-member board, which includes his brother

Separately, Tesla agreed to pay $ 20 million, or £ 15 million, to settle claims that it failed to set up barriers to the use of a "mask" for the Twitter site, which could be impossible


Ellison Musk, CEO of Tesla, reached an agreement with the Securities and Exchange Commission on Saturday, forcing him to give up the post of president for three years
Elon Mask, CEO of Tesla, reached an agreement with the Securities and Exchange Commission (SEC) on Saturday, forcing him to give up his post for three years
The agreement, announced by the Securities and Exchange Commission (SEC) on Saturday, is a relief to investors, who were worried that the long legal battle would only cause more damage to the electric car company

The SEC said Mask had misled investors with Twitter on Aug. 7, saying it was considering making Tesla private


Financial regulators had said in a lawsuit on Thursday that the tweet was basically unfounded and stressed that the ensuing market chaos had hurt investors

Initially, the agreement required that Masque be permanently banned from running the company, a punishment many investors said would be disastrous for the electric car maker, prompting the company's lawyers to intervene and negotiate to settle the crisis

Analysts and investors are widely regarded as the innovative engine behind Tesla, helping the company become one of the most valuable US automakers