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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

News

Trump weighs U.S. role in Iran as Middle East conflict escalates

Trump consults advisers on U.S. strategy post-Iran conflict as regional tensions escalate amid military actions.

Published

13 hours ago

March 5, 2026

Harvey Vargas

Trump consults advisers on U.S. strategy post-Iran conflict as regional tensions escalate amid military actions.

President Trump is consulting with top advisers on how the U.S. should respond once the conflict in Iran subsides. Decisions on military, diplomatic, and regional strategies are reportedly being finalised amid the ongoing conflict.

Meanwhile, Iran has targeted multiple regional sites while Israel intercepted a jet fighter over Tehran, signalling a dangerously volatile situation. International concern grows as conflicts risk wider escalation.

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#MiddleEastCrisis #IranConflict #TrumpUpdate #USMilitary #Israel #AirCampaign #GlobalTensions #BreakingNews

News

U.S. submarine sinks Iranian warship near Sri Lanka

U.S. video of Iranian warship sinking escalates tensions, confirms submarine responsible near Sri Lanka, sparks geopolitical concerns.

Published

13 hours ago

March 5, 2026

Harvey Vargas

U.S. video of Iranian warship sinking escalates tensions, confirms submarine responsible near Sri Lanka, sparks geopolitical concerns.

A dramatic video showing the sinking of an Iranian warship has been released by the United States, escalating tensions in an already volatile region. While the exact date and full details of the footage remain unverified, the images have quickly gone viral across global platforms.

U.S. Department of War Secretary Pete Hegseth confirmed that a U.S. submarine was responsible for sinking the Iranian vessel off the southern coast of Sri Lanka. The development marks a significant flashpoint in maritime security across the Indo-Pacific.

Sri Lanka’s Foreign Minister identified the ship as the IRIS Dena, raising fresh geopolitical questions about Tehran’s naval movements and Washington’s strategic response.

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#Iran #USMilitary #SriLanka #Geopolitics #NavalWarfare #BreakingNews #DefenseNews #GlobalTensions