Elon Musk to Compensate for the Funding Secured Fine by Investing $20 Million
After the Funding Secured controversy causing $20 million fine to Tesla and Elon Musk each, Elon Musk wants to compensate for the fine by investing $20 million in Tesla.
The funding is not related to the SEC orders and is at own will of Elon. The stock purchase would be directly from Tesla thus pouring in $20 million cash directly in their hands.
Elon Musk understand ethics and knows that it was his fault that caused this fine. He knows that it was his ‘funding secured tweet’ that caused the fine, and as a result it should be Elon only who should compensate for the matters.
Elon is already the largest share holder of Tesla and owns over 20% stake of Tesla. His this investment would increment his stake by 0.2%. it is not quite common to see the CEO of company investing in the company itself.
Though in case of Elon Musk he is pouring in as much cash as possible, he had done some investmets back in May and June of this year also.