The SEC recently sued Elon Musk over his ownership of Twitter, now X. This has greatly intrigued many people who wish to learn why the Space X founder was facing such a lawsuit. Musk had purchased Twitter in 2022 for $44 billion.

Twitter's stock price rose 27 percent once Musk belatedly disclosed his stake, the lawsuit said. "During the period that Musk was required to publicly disclose his beneficial ownership but had failed to do so, he spent more than $500 million purchasing additional shares of Twitter common stock," it said.