Musk and brother under SEC investigation for insider trading

Billionaire Twitter user Elon "Pedo Guy" Musk and his brother are under investigation for insider trading.


The investigation reportedly centers on Kimbal Musk's sale of 88,500 Tesla shares in November, for which he received nearly $109 million.The shares represented about 15% of his stake in Tesla at the time. Unlike his brother Elon who has rarely sold stock, Kimbal Musk has regularly sold shares in the company.On Saturday, November 6 — the day after Kimbal Musk sold his shares — Elon Musk posted a poll on Twitter asking whether he should sell 10% of his shares. Musk claimed in the tweet that the sale would answer criticism that he paid little or no federal income tax, despite being the richest person on the planet. However the major factor in the sale was not the Twitter poll but the fact that he had to exercise stock options that were due to expire this August, a move that would create significant taxable income.