Elon Musk tells court Saudi Arabia wanted to take Tesla private, $420 'not a joke'

Elon Musk testified Monday he believed he had funding secured to take Tesla Inc. private in 2018, both from a Saudi Arabian investment fund and from his stake in SpaceX, and that one of his key tweets on the matter was “absolutely truthful.”

When questioned about texts between himself and Yasir Al-Rumayyan, the sovereign-wealth fund’s top executive, Musk said the texts were essentially “ass covering, for lack of better word,” on the Saudi executive’s part. In the early afternoon, under Spiro’s questioning, Musk said that he had “never” tried to deceive Tesla shareholders, and had SpaceX as a model to ensure their continued investment in a private Tesla.

Earlier in the day, Musk told the court that the $420-a-share price on the deal “was a coincidence” as it was roughly a 20% premium over Tesla’s stock price at the time, and “not a joke.”Plantiff’s lawyer Porritt also asked several questions that led Musk to say he hadn’t talked to major Tesla shareholders such as Baillie Gifford and T. Rowe Price about possibly taking Tesla private. Musk also said he couldn’t recall specifics around speaking with the board about the plan.

'Elon, +20% makes it 420, should we just round up to 421?'

It was an offer that couldn't be refused,it would raise ethic issues for Twitter...they had no choice but to take the offer.

you gotta be kidding me right? the dumbest escuse of an escuse for smoking pot

Lol

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