Elon Musk will settle the feds’ Twitter lawsuit with pocket change

埃隆·马斯克将以“零钱”代价与联邦政府就推特诉讼达成和解

The SEC claimed Musk saved over $150 million by breaking the disclosure rules, now it’s settling for $1.5 million. 美国证券交易委员会（SEC）曾声称马斯克因违反披露规则节省了超过 1.5 亿美元，而如今双方以 150 万美元达成和解。

Last year, the SEC sued Elon Musk over the way his acquisition of Twitter (now X, and a part of SpaceX) started, and today it announced a settlement that looks like a massive bargain, while Musk’s own lawsuit against Sam Altman continues to play out. A week before the Trump administration took over, the department had alleged that by not disclosing he’d purchased more than $500 million in Twitter stock on time in the spring of 2022, Musk underpaid by at least $150 million, and harmed investors who sold their stock during that time. 去年，SEC 就埃隆·马斯克收购推特（现为 X，隶属于 SpaceX）的初始方式对其提起诉讼。今天，SEC 宣布了一项看起来极其划算的协议，与此同时，马斯克针对萨姆·奥特曼（Sam Altman）的诉讼仍在进行中。在特朗普政府上台前一周，该部门曾指控马斯克在 2022 年春季未按时披露其购买超过 5 亿美元推特股票的行为，导致其少支付了至少 1.5 亿美元，并损害了在此期间出售股票的投资者利益。

Now, as reported by Reuters, the SEC has added the Elon Musk Revocable Trust to its lawsuit, which will settle the case by paying a $1.5 million civil penalty without admitting wrongdoing or requiring Musk to cough up any of the money he allegedly saved. 据路透社报道，SEC 现已将“埃隆·马斯克可撤销信托”（Elon Musk Revocable Trust）列为诉讼被告。该信托将通过支付 150 万美元的民事罚款来结案，且无需承认任何不当行为，也不要求马斯克退还其被指控节省下的任何资金。

On May 4, 2026, the U.S. Securities and Exchange Commission filed an amended complaint to add the Elon Musk Revocable Trust dated July 22, 2003 (the “Revocable Trust”) as a defendant to this action. The amended complaint alleges that the defendants failed to timely file a beneficial ownership report with the Commission after the Revocable Trust acquired beneficial ownership of more than five percent of the outstanding shares of Twitter, Inc. common stock, in violation of the beneficial ownership reporting requirements under the Securities Exchange Act of 1934 (“Exchange Act”). 2026 年 5 月 4 日，美国证券交易委员会提交了一份修订后的诉状，将成立于 2003 年 7 月 22 日的“埃隆·马斯克可撤销信托”（以下简称“可撤销信托”）列为本案被告。修订后的诉状指控称，在“可撤销信托”获得推特公司超过 5% 的流通普通股实益所有权后，被告未能及时向委员会提交实益所有权报告，违反了《1934 年证券交易法》（简称《交易法》）关于实益所有权报告的要求。

The SEC simultaneously moved for entry of a consent final judgment as to the Revocable Trust. Without admitting or denying the allegations of the complaint as to the Revocable Trust, the Revocable Trust consented to entry of a final judgment, subject to court approval, that would permanently enjoin it from violating Section 13(d) of the Exchange Act and Rule 13d-1 thereunder and order it to pay a civil penalty of $1.5 million. SEC 同时申请针对“可撤销信托”作出同意最终判决。在不承认也不否认针对该信托的指控的情况下，“可撤销信托”同意在法院批准的前提下接受最终判决，该判决将永久禁止其违反《交易法》第 13(d) 条及第 13d-1 条规则，并责令其支付 150 万美元的民事罚款。

As explained in the consent motion, if the court enters the proposed final judgment as to the Revocable Trust as proposed by the Revocable Trust and the SEC, the SEC will file a stipulated dismissal of Elon Musk in his personal capacity, which will resolve this case in its entirety. 正如同意动议中所述，如果法院批准“可撤销信托”与 SEC 共同提出的针对该信托的最终判决，SEC 将提交一份针对埃隆·马斯克个人身份的撤诉协议，从而彻底解决此案。