The world’s most famous billionaire returned to federal court to defend himself against a class-action lawsuit that alleges he misled Tesla shareholders with a tweet about an aborted buyout.
, spent much of Tuesday depicting himself, while being questioned by his own attorney, Alex Spiro, as an impeccably trustworthy business leader capable of raising as much money as he needs to pursue his visions. He testily sparred with a shareholder lawyer, Nicholas Porritt, who had raised his ire earlier in the trial.
On the flip side, Spiro at one point mistakenly addressed Musk as “your honor” while asking the billionaire how much money he had made for investors during his career. The slip-up elicited a moment of levity in the San Francisco courtroom filled with media and other spectators in attendance to listen to Musk, who has become even more famous since completing his $44 billion purchase of Twitter in October.
After those tweets, Musk declared Tesla would remain publicly a few weeks later. A month after that, Musk and Tesla reached a $40 million settlement with securities regulators who had alleged the tweets were misleading. While being steered by Spiro, Musk told jurors he had stated only that he was “considering” a Tesla buyout but never promised a deal would get done. But, Musk said, he thought it important to get the word out to investors that Tesla might be poised to end its eight-year run as a publicly held company.While being grilled the day before by Porritt, Musk at times was combative, indignant and exasperated.
“We are talking about the kingdom of Saudi Arabia,” Musk testified. “They can buy Tesla several times over. This was not a large amount of money for them.”
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