US Senator Elizabeth Warren Goes From Anti-Crypto to Anti-Elon Musk

In an intriguing twist of her political trajectory, Senator Elizabeth Warren, known for her aversion to cryptos, has focused on the practices of tech mogul Elon Musk.

Known as the world’s wealthiest man, Musk’s recent management decisions have drawn the ire of the Massachusetts senator. It set the stage for her recent call to the Securities and Exchange Commission (SEC) to investigate Musk’s alleged conflicts of interest at Tesla and Twitter.

Senator Elizabeth Warren Goes After Elon Musk

Senator Elizabeth Warren is concerned that Elon Musk’s extensive workload could be detrimental to shareholders’ interests. Her argument revolves around Musk’s simultaneous roles as CEO of both Twitter and Tesla.

The American politician argues this dual responsibility has raised serious concerns about conflicts of interest. It could lead to a potential misuse of corporate assets, and negative impacts on Tesla shareholders.

“Though Mr. Musk recently announced the hiring of Linda Yaccarino as the new CEO of Twitter, this does little to address the concerns to Tesla and its shareholders related to his dual role. Despite hiring Ms. Yaccarino, he is likely to retain ‘significant control’ over the company and intends to continue overseeing core functions of the business,” said Warren.

Indeed, Warren’s indignation is fueled by what she sees as Tesla’s board of directors’ failure to address these issues. She asserts that the board has not adequately informed shareholders about Musk’s questionable capacity.

In her letter to the SEC, Warren requested an examination of how Tesla’s board of directors managed “the apparent conflicts of its CEO, Elon Musk.”

“Inevitable conflicts of interest arising from, for example, Twitter’s reliance on advertising revenue from automobile companies that are in direct competition with Tesla, including Audi, Chevrolet, Ford, GM, Jeep, and Volkswagen… Mr. Musk could run Twitter to benefit Tesla through favorable algorithms or free a

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Author: Bary Rahma

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