Elon Musk claims he had backing to buy Tesla
The tweet sent shares in Tesla soaring, but weeks later they fell back when Mr Musk said the plan was no longer going ahead, causing a significant backlash for the billionaire.
He said that while a price for taking Tesla private was not discussed, he claimed that the representatives from the fund made it clear they backed a deal."I was very upset because he had been unequivocal in his support for taking Tesla private when we met and now he appeared to be backpedaling," he said.Mr Musk was also questioned about how he decided on a price of $420 a share and whether it was a reference to marijuana.
Mr Musk, who has smoked cannabis in public but claimed not to be a regular user, told the court: "420 was not chosen because of a joke; it was chosen because there was a 20% premium over the stock price." "Just because I tweet something does not mean people believe it or will act accordingly," he told jurors.
Following his takeover of Twitter, which is headquartered in San Francisco, thousands of staff lost their jobs.
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