The SEC alleges Elon Musk violated federal securities law by failing to disclose his more than 5% stake in Twitter on time.

The U.S. Securities and Exchange Commission has sued billionaire Elon Musk, saying he failed to disclose his ownership of Twitter stock in a timely manner in early 2022, before buying the social media

"Musk underpaid Twitter investors by more than $150 million for his purchases of Twitter common stock during this period," the SEC said.

The seats of honor reflect the friendly position the three richest men in the world have taken toward the second Trump administration.

The three CEOs have all donated at least $1 million to the Trump-Vance inaugural committee, and Musk is considered a close Trump ally.

Meta CEO Mark Zuckerberg cohosting a reception with billionaire Republican donors next week for Donald Trump’s inauguration