Tesla stocks have fallen sharply in recent days, although they rose 4.81% on Thursday, but the stock price has reached $800, a huge difference from its high of $1,000, and Musk's personal wealth has also fallen below $200 billion, but he is still the world's richest man.
However, Musk's worries are more than this, because his brother held Tesla stock, cashing out at a high level, Musk was accused of insider trading.
In response to an insider trading investigation by the U.S. Securities and Exchange Commission (SEC) on Feb. 25, Musk responded Thursday that his brother did not know he would launch a poll on Twitte to sell Tesla's stake.
The SEC is investigating whether musk and his brother Kimbal Musk's recent stock sale "violated insider trading rules" because Kimbar sold Tesla stock the day before Musk launched his investigation, people familiar with the matter said. On the first trading day after the survey was released, Tesla shares plunged 5 percent.
Musk responded in an email: "Kimball didn't know I was going to do an investigation on Twitter. He also claimed that Tesla lawyers "knew" that he would conduct a polling investigation. According to his previous settlement with the SEC, The tweets issued by Musk containing important news need to be reviewed by Tesla lawyers.
"Given that the vote I initiated on Twitter resulted in me losing more than $1 billion when selling stocks, the idea that I care about my brother might make a few million dollars less when selling stocks is completely ridiculous." Musk said.
(Fast Technology)