Elon Musk He appeared again on the witness stand in the 2018 (1397) San Francisco court in the defense of the “funded” tweets, saying that he could have implemented the Tesla privatization plan by selling his SpaceX shares.
to report EngadgetDuring the testimony in the court that was formed due to the complaint of the shareholders of the Tesla car company, Musk declared: “SpaceX shares alone mean “financed”. That doesn’t mean I want to sell SpaceX stock; But I could do it. “If you look at the Twitter deal, you can see that I did that and I sold Tesla stock to complete the Twitter deal and I could have done the same thing here.” However, Musk did not say how much of his stock he was willing to sell to finance the privatization plan.
The plaintiffs’ lawsuit is based on Musk’s high-profile tweet in 2018, in which he said, “I’m thinking about taking Tesla private when it’s worth $420 a share.” He even said that “financial resources have been secured”. Last week, Musk took the stand for the first time in this particular case to defend himself against a complaint that his tweets caused the plaintiffs massive financial losses.
Shares of Tesla were temporarily halted after those tweets were published, and have been volatile in the weeks since. He said at the time that just because someone posts a tweet “doesn’t mean people are going to believe it or that person is going to act exactly on it.”
In this meeting of the court, Elon Musk repeated his previous claim of an agreement with the Public Investment Fund of Saudi Arabia to privatize Tesla. In this regard, he told the court that the country was clear in supporting this deal, which was not implemented in the end. Rumors suggest that the court about Elon Musk’s relationship with Yasser Rumianthe CEO of Saudi Arabia’s sovereign wealth fund has reviewed.
According to reports, a history of text messages between Musk and Rumian has been made available to the jury in which the messages backtrack on the agreement. According to the messages, the official of Saudi Arabia responded to Musk by saying that he did not have enough information to commit to the purchase and called Musk’s public announcement about their conversation “unwise.”