Elon Musk Agrees to Testify in SEC’s Twitter-Buyout Probe

Billionaire will sit for five-hour deposition with regulator
Agency probing Musk’s disclosure of initial Twitter stake

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By Jef Feeley

May 30, 2024 at 3:07 PM UTC

Updated on

May 30, 2024 at 4:02 PM UTC

This article is for subscribers only.

Elon Musk has agreed to testify in the US Securities and Exchange Commission’s probe of his 2022 acquisition of the social-media platform once known as Twitter.

The billionaire will sit for a five-hour deposition after dropping his plan to appeal a court order that he comply with a government subpoena, according to a filing Thursday in San Francisco federal court. The regulator is seeking information about Musk’s purchases of Twitter stock and statements about his investments before he spent $44 billion to buy the social-media platform.