Less than three weeks after tweeting his take-Tesla-private plans, Musk dropped the idea and said Tesla would remain a public company. In late September, the SEC filed fraud charges against Musk over his comments and sought to remove him as the company's CEO. Musk and the SEC soon reached a settlement that allowed Musk to remain as Tesla's CEO, but called for him to step down as he company's chairman, and for he and Tesla to each pay the SEC $20 million in fines.