Musk Begins Testimony In Trial Over 2018 Tweet

Musk Begins Testimony In Trial Over 2018 Tweet

Share to Linkedin Tesla's billionaire CEO Elon Musk took the stand in San Francisco federal court Friday to defend a controversial 2018 tweet in which he said he would take the electric vehicle company private, as part of the high-profile civil trial waged against him by Tesla shareholders over the notorious incident that cost Musk and Tesla millions. Tesla CEO Elon Musk exits a Manhattan federal court in 2019 in a hearing related to the tweet ... [+] fiasco. Musk took the stand at about 4:30 p. m. EST. "The causal relationship is clearly not there simply because of a tweet," Musk claimed Friday, pointing to the historic volatility in Tesla share prices. The beginning of his testimony focused on why he believes his Twitter account is crucial in communicating with investors, explaining he cares a "great deal about retail investors," calling them among Tesla's "most loyal" shareholders. Musk called his account with 127 million followers a "good way to communicate about products and to answer customer support questions" about Tesla. Musk tweeted on August 7, 2018: "Am considering taking Tesla private at $420. Funding secured," representing a roughly 20% premium from its share price at the time. The tweet