Trump SEC lets Musk settle $150 million Twitter lawsuit for $1.5 million

The Trump administration is letting Elon Musk pay a $1.5 million fine to settle a lawsuit that originally sought at least $150 million. If approved by a federal court, the proposed settlement submitted yesterday would require a trust in Musk's name to pay a $1.5 million civil penalty to the government.

The January 2025 lawsuit, filed in the last days of the Biden administration, relates to how Musk purchased a 9 percent stake in Twitter in 2022 and failed to disclose it within 10 days as required under US law.