As Musk gains influence, questions hover over US probes into his empire

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Thu, January 2, 2025

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As Musk gains influence, questions hover over US probes into his empire

^{Published on 2025-01-02 09:20:46 - MSN}

By Mike Spector, Rachael Levy, Marisa Taylor and Chris Prentice NEW YORK/WASHINGTON (Reuters) - Last month, in the waning days of the Biden administration, the SEC set a tight deadline of several days for demanding that Elon Musk pay a settlement or face civil charges relating to alleged securities violations during his $44 billion takeover of Twitter in 2022.

The article discusses the growing influence of Elon Musk and the scrutiny his business empire is facing from U.S. regulatory bodies. As Musk's companies like Tesla, SpaceX, and X Corp (formerly Twitter) expand, they encounter various legal and regulatory challenges. The Department of Justice and the Securities and Exchange Commission are probing into Tesla's Autopilot system following several accidents, and there are investigations into potential securities fraud related to Musk's tweets about taking Tesla private. Additionally, SpaceX's practices regarding hiring and its Starlink satellite internet service are under review. Concerns also arise from Musk's acquisition of Twitter, now X Corp, where issues like data privacy, content moderation, and his interactions with foreign governments are being examined. These probes reflect broader concerns about the oversight of tech moguls and the implications of their vast influence on innovation, competition, and public policy.

Read the Full MSN Article at:
[ https://www.msn.com/en-gb/politics/government/as-musk-gains-influence-questions-hover-over-us-probes-into-his-empire/ar-AA1wQGuw ]

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