Elon Musk settled the Securities and Exchange Commission’s civil lawsuit accusing the world’s richest person of waiting too long in 2022 to disclose his initial purchases of Twitter , now known as X.

A trust in Musk’s name will pay a $1.5 million civil penalty, without admitting wrongdoing. Musk won’t have to give up any money he allegedly saved from the delay.

The settlement was disclosed on Monday in the Washington, DC, federal court. Lawyers for Musk did not immediately respond to requests for comment.

A trust in Elon Musk’s name will pay a $1.5 million civil penalty, without admitting wrongdoing. Musk won’t have to give up any money he allegedly saved from the delay.…