Stay updated with breaking news from Sec Settlement. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Payouts will come from a "fair fund" created under a settlement between Musk and the US Securities and Exchange Commission, arising from Musk's August 2018 post on Twitter that he had "funding secured" for a Tesla buyout.
The SEC settlement also included a consent decree under which Musk gave up his role as Tesla's chairman and agreed to let a Tesla lawyer approve some of his Twitter posts.
The church has a massive $100 billion investment portfolio, with holdings of public companies including Walmart, Microsoft, and Apple.