Elon Musk admits he didn't have a 'specific number' for how much funding was needed to take Tesla private
Elon Musk said he didn't have a"specific number" for how much funding was needed to secure his plan to take Tesla off the stock market, admitting he did not have binding commitments from investors.
Musk sidestepped"yes" or"no" answers to questions by Nicholas Porritt, a lawyer for the investors, about securing funding pledges by Saudi Arabia's sovereign wealth fund, according to . This prompted the judge to step in and ask whether a specific dollar amount, rather than concepts, were discussed.The billionaire CEO is being sued by Tesla investors for millions of dollars in damages after tweeting he had"funding secured" to take the automaker private at $420 per share back in 2018. The company's stock initially surged after the tweet, but fell once it became clear the buyout was a no-go.
Earlier this week, Musk testified that he sent out the notorious tweet only after Yasir Al-Rumayyan, the governor of Saudi Arabia's Private Investment Fund,
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