Elon Musk testifies he would have sold SpaceX stock to take Tesla private in 2018
Publishing timestamp: 2023-01-23 18:23:40
Summary
Elon Musk is being sued by Tesla shareholders for a series of tweets he wrote in 2018 claiming he had "funding secured" to take the company private. Musk testified that he could have sold shares of SpaceX, the reusable rocket maker he also runs, to finance the deal. He also denied that the $420 per share price was a reference to cannabis in pop culture. The SEC had previously charged Musk and Tesla with civil securities fraud and they paid separate $20 million fines. Musk recently became CEO of Twitter after leading a $44 billion leveraged buyout of the company.
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Keywords: technology, tesla inc, autos, business news, elon musk, san francisco, transportation,