Question

Why Elon musk is being forced to step down as the CEO of Tesla motors?

Please give any update about him!

Answer 1

He claimed he had funding secured to take Tesla private at $420 per share. It became clear that the funding was far from secure, making his statement false, a violation of federal law. The intended result is to impose a check on Elon's freewheeling habits and impose more organizational discipline on Tesla. The SEC threatened to sue, in return for which Musk brokered a deal by stepping down as chairman (to not get sued).