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Elon Musk Is Planning to Own Town and Trying to Drive Out Villagers

Elon Musk Is Planning to Own Town and Trying to Drive Out Villagers
Image by SpaceX-Imagery on Pixabay

Elon Musk wants to found his own city around the SpaceX spaceport in Texas. The houses of traditional villagers are being bought up.

The SpaceX Texas Launch Site is located in Boca Chica Village, a settlement in Cameron County, Texas. The main owner of the spaceport is the space and telecommunications company SpaceX, is Elon Musk.

Musk announced that there will be a SpaceX city called Starbase.

In 2019, SpaceX made an unusual offer to the residents of Boca Chica Village. SpaceX offered homeowners in Boca Chica village three times the current price of their homes. Some people accepted the money, but others refused the offer. SpaceX then reduced the offer to twice the estimated value of the home. A television report exposed the practice. The bid was three times the current value of the homes.

In October 2020, it was reported that there are at least two owners left who do not want to sell because they would not find anything of equal value in the area for the proceeds. The village does not even have its own well yet. The water is brought in by tanker.

According to a Business Insider report, the founding of the city is said to have already been discussed with the authorities in Cameron County. A decision on the construction project will be made in the next few days. SpaceX is developing its Starship spacecraft in Boca Chica.

US Securities and Exchange Commission may investigate Dogecoin tweets. 

Has Elon Musk influenced cryptocurrency rates via Twitter? And what about the requirements of the stock exchange supervision? Musk is very active on Twitter, and he gets big reach by that platform. Twitter got very popular in the last few years after a big drop in 2017. 

There is trouble with the stock exchange regulator again: The United States Securities and Exchange Commission (SEC) wants to investigate Elon Musk’s tweets on the cryptocurrencies Bitcoin and Dogecoin. He is said to have influenced the course of Dogecoin and possibly violated the requirements of the SEC. Musk had made several positive comments about Dogecoin. Among other things, he posted a modified picture from the Disney film The Lion King. It showed Musk holding aloft the currency’s Dogecoin mascot, the Shiba dog. With his tweets, Elon Musk drove the price of the cryptocurrency upwards.

Tesla buys bitcoins

Image by MichaelWuensch on Pixabay

Bitcoin’s price soared in early February after it was revealed that Musk-led electric car maker Tesla had bought $ 1.5 billion in Bitcoin and announced it would accept digital currency as a means of payment.

Unlike securities, cryptocurrencies are not regulated by the SEC. In this respect, the tweets about Dogecoin are probably not a violation. It could be different with Tesla’s Bitcoin purchase, said a senior SEC investigator at the British daily The Telegraph. He can imagine that the securities regulators have a few questions for Elon Musk.

The SEC imposed restrictions on Musk

There is also the possibility that Musk’s tweets violated the requirements imposed by the SEC in 2019. Then he has to discuss tweets about Tesla’s financial situation. The SEC had obliged him to do this after he had caused some commotion the year before with the announcement that he would take Tesla off the stock exchange. Musk doesn’t always stick to the rules. However: in May of last year, he tweeted that he thought Tesla shares were too high. As a result, the security lost a lot of its value. Musk obviously has little impact on the prospect of a further investigation by the stock exchange regulator.

Featured Image by SpaceX-Imagery on Pixabay