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Musk takes to the stand for day two of the Tesla trial

Published

3 years ago

January 24, 2023

ticker NEWS

Tesla CEO says he believed he had secured funding to take the company private

Tesla CEO Elon Musk took the stand for a second day on Monday in the trial over allegations he misled investors when the billionaire tweeted in 2018 that he had “funding secured” to take the electric car company private.

Musk testified that he was sure he had backing from Saudi financiers at the time but said the fund later backpedaled on its commitment.

Musk acknowledged he did not discuss a takeover price with representatives of Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, but said they made clear they would do what it took to make a buyout happen. And he said he was “upset” when they later “appeared to be backpedaling.”

The lawyer for the investors told the court that written evidence does not support Musk’s claim that the Saudi fund made a commitment to him, adding that minutes of a meeting between Musk and the Saudis showed they wanted to learn more about Musk’s plan.

Investors say they lost millions as a result of Musk’s Aug. 7, 2018 tweet saying that he had “funding secured” to take Tesla private at $420 per share.

Tesla’s stock price surged after Musk’s tweets, and later fell as it became clear the buyout would not materialise.

Musk testified that when he sent the tweet, he was saying “not that it will happen, but that I am thinking about it” and that funding was secured, in his “opinion.” #trending #featured

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Global politics in flux: Palestine recognition and Albanese speculation

Trump’s UK visit sparks debate on US-UK relations, with implications for future transatlantic ties. Subscribe for more updates!

Published

3 hours ago

September 22, 2025

Ahron Young

Trump’s UK visit sparks debate on US-UK relations, with implications for future transatlantic ties. Subscribe for more updates!

Donald Trump’s visit to the United Kingdom has dominated headlines, sparking debate about the state of US–UK relations. The former president’s high-profile trip is being closely managed by the British government, with many wondering what message he is trying to send to the world stage. Analysts suggest it could reshape the future of transatlantic ties.

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Trump and Republicans honour Charlie Kirk at Arizona memorial

Top Republicans, including Trump, honor Charlie Kirk at a memorial service amid political tensions sparked by his tragic death.

Published

3 hours ago

September 22, 2025

Ahron Young

Top Republicans, including Trump, honor Charlie Kirk at a memorial service amid political tensions sparked by his tragic death.

Top Republicans, including President Donald Trump, gathered at Arizona’s State Farm Stadium to pay tribute to Charlie Kirk. The conservative activist was remembered in a memorial service following his tragic shooting death, which has sparked political tensions across the country.

Thousands of supporters, many dressed in patriotic colours, attended the service to celebrate Kirk’s contributions to the conservative movement. The event balanced political and religious tributes, with speakers urging attendees to carry on his legacy and continue the work he started.

Security was visibly heightened, with authorities preparing for protests and the charged atmosphere reflecting the polarised debate surrounding Kirk’s death. The memorial served as both a commemoration and a call to action for his supporters.

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