The biggest flap occurred last August when he tweeted that he had lined up the financing necessary to buy Tesla in a buyout that would have likely cost more than US$20 billion ($30.7b), causing the electric car maker's stock to swing wildly. An offer never materialised, and the Securities and Exchange Commission later accused Musk of using Twitter to mislead investors.
Musk denied the allegations, but he and Tesla eventually reached a US$40 million settlement with the SEC after regulators threatened to seek his ouster as the company's CEO. Instead, Musk agreed to step down as Tesla's chairman for at least three years and also stipulated that his tweets tied to the company be prescreened for accuracy.
Twitter got Musk into trouble again in February when the SEC alleged a tweet about how many cars Tesla will manufacture this year represented another misleading statement and sought to hold him in contempt of court for violating the settlement. That resulted in a new settlement that is supposed to put even tighter controls on Musk's tweets about the company.
Musk also is embroiled in a defamation lawsuit for a tweet that described a British diver involved in a rescue of boys trapped in an underwater cave in Thailand as a pedophile. That tweet, posted last July, has since been deleted, and Musk is now fighting the lawsuit filed by Vernon Unsworth in a Los Angeles state court.