> In anycase, this article seems to disagree with you that the money wasn't paid out to investors: (https://www.theverge.com/2018/9/29/17918252/elon-musk-tesla-

> In anycase, this article seems to disagree with you that the money wasn't paid out to investors: (https://www.theverge.com/2018/9/29/17918252/elon-musk-tesla-... https://www.theverge.com/2018/9/29/17918252/elon-musk-tesla-...) Didn't realize they were planning to pay that out to investors, thanks for the correction. The short-sellers also lost money due to Musk's fraud, though admittedly that's a small fraction of volume. To get an estimate of the damage done, the price went up by ~$40 share, with ~30 million shares traded. Let's assume the average buyer bought at the midpoint, so they lost $20/share. That's still $600 million transferred from people who believed Musk to people who doubted him – 15 times larger than the total fine to Musk + Tesla.