The U.S. Securities and Exchange Commission (SEC) sued Musk for falsely announcing that he had secured funding for a private takeover of Tesla. Musk stepped down as Tesla's chairman and paid a $20 million fine.

Musk acquired Twitter for $44 billion, merged it into X Corp., and rebranded the service as X, leading to significant changes and controversies.

Musk's ownership of Twitter was criticized for large employee layoffs, an increase in hate speech and misinformation, and changes to service features.