Sen. Elizabeth Warren asks the SEC to investigate Tesla over possible conflicts of interest in Twitter ties
Warren reiterated these concerns in the lastest letter to the SEC. They include Musk's transfer of Tesla employees to help with Twitter — a potentially involuntary move — and his ability to use the platform to boost Tesla's advertising ahead of other car manufacturers.
Tesla's investors also saw Musk's desire for Twitter as directly detrimental to the carmaker's stock, citing that Tesla lost $582.4 billion in market capitalization a year after Musk disclosed his initial stake in the social media company. After complaints arose from shareholders, Musk hired Linda Yaccarino, formerly head of advertising at Comcast's NBCUniversal, to take over as CEO of Twitter. However, Warren notes that this is not enough, as Musk"is likely to retain 'significant control' over the company and intends to continue overseeing core functions of the business."Neither Tesla nor the SEC responded immediately to a request for comment.
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