The U.S. Securities and Exchange Commission began a formal review of Elon Musk’s $44 billion Twitter acquisition, a move that placed the high-profile deal under close scrutiny by U.S. regulators. The agency subpoenaed Musk to testify in May 2023 and later set a date for his appearance in San Francisco on September 15. Yet, two days before the scheduled testimony, Musk declined to appear on September 15 or in the October–November window, describing the SEC’s scheduling approach as inaccurate in his view.
During the course of the inquiry, Musk called for a broader reassessment of how government agencies exercise power, signaling a push for stronger checks on regulatory actions and potential accountability mechanisms. He argued that a commission should be established to sanction individuals who abuse regulatory authority for personal or political purposes.
Meanwhile, Musk’s public profile remained elevated. In late 2023, reports from Forbes placed him at the top of the list of the wealthiest individuals in the United States, a distinction that continued to underscore his influential role in business and technology circles.
Additionally, a veteran American journalist characterized Musk’s public persona as alternating between measured leadership and what was described as a volatile, intense mode of operation at times, a portrayal that has fueled ongoing debate about how his public statements influence markets and policy discussions.