Elon Musk under investigation for secret glass house project
The Justice Department and the Securities and Exchange Commission are investigating Elon Musk and Tesla for allegedly using company funds to plan a glass house for Musk in Austin, Texas.
:quality(70):focal(3343x1375:3353x1385)/cloudfront-us-east-1.images.arcpublishing.com/tronc/EQZBZMQ4LBC3FNOARTV3PYHL6Q.jpg)
Topics
Posted 8/30/2023, 11:13:00 PM
nydailynews.com
Relevant topic timeline:
Manhattan federal prosecutors and the SEC are investigating the use of Tesla funds for a secret project involving a glass house for CEO Elon Musk, known as "Project 42," which is prompting inquiries into potential misuse of company resources.
Tesla is facing a federal investigation by the Department of Justice over allegations of using company resources to build a mansion for CEO Elon Musk, triggering investigations from the SEC and federal investigators from New York.
Tesla's plan for a glass house for Elon Musk has not impacted the stock, despite the company's media attention.
The US government is seeking Elon Musk's testimony in an investigation into X (formerly known as Twitter), citing concerns about the company's ability to comply with the law and protect user privacy.
Tesla CEO Elon Musk is reportedly discussing opening a new manufacturing facility in Saudi Arabia, potentially helping the company reach its goal of selling 20 million vehicles per year by 2030.
Tesla and Elon Musk are reportedly under federal investigation over perks and transactions between the company, the CEO, and other companies under Musk's control, with concerns arising over the potential misuse of funds and resources.