Tesla Chief Elon Musk Tweet Says He's Buying Manchester United
Prolific tweeter Elon Musk said he is buying English football club Manchester United Plc. in a thread joking about his political allegiances. The Tesla Inc. chief executive officer and world's richest person made the claim in a tweet thread where he stated he supported the left half of the Republican Party and the right half of the Democrats.
Musk has a track record of using Twitter to make jokes and troll the media, who follow his tweets closely. The billionaire has also run afoul of the US Securities and Exchange Commission, most infamously for tweets in 2018 about taking Tesla private. That led to securities fraud charges, and a settlement that included appointing a “Twitter sitter” to approve Musk's Tesla-related tweets.
More recently, he has drawn scrutiny from regulators over a May 17 tweet that his $44 billion takeover bid for Twitter Inc. “cannot move forward.” Musk backed away from the purchase last month, spurring a lawsuit from the company to make him complete the deal.
The latest tweets could also attract regulatory attention, given Manchester United securities are listed on the New York Stock Exchange. The Class-A shares have fallen about 10% this year.
“When someone in his position makes comments about buying an entity, people start speculating: ‘is he joking, not joking, half-joking?'” said Hui Chen, an ethics and compliance consultant who served as the first compliance counsel expert at the US Department of Justice. “His actions have major impact on markets and he really needs to be cognizant about the potential implications.”
Chelsea Sale
Manchester United is valued at $4.6 billion, according to Forbes. In the most recent sale of a Premier League powerhouse, a group led by Todd Boehly agreed to buy Chelsea FC
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