Elon Musk on Saudi ‘ass-covering’ and 8 other things the Tesla boss said to defend himself in the ‘funding secured’ trial

Elon Musk on Saudi ‘ass-covering’ and 8 other things the Tesla boss said to defend himself in the ‘funding secured’ trial

Elon Musk testified Monday in trial sparked by shareholder allegations the Tesla CEO committed securities fraud.

He said Saudi investors sent "ass-covering" texts and he planned to sell SpaceX stock to take Tesla private.

Here are 9 things we've learned about Musk and the "funding secured" tweet at the heart of the lawsuit.

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Elon Musk took the stand again Monday to defend himself in an ongoing trial sparked by a class-action shareholder lawsuit that alleges the Tesla CEO committed securities fraud.

Investors suing Musk have accused the world's second-richest man of illegally manipulating Tesla's stock price in 2018 when he tweeted he had "funding secured" to take the company private at $420 a share.

Here are nine things we've learned from the San Francisco trial, from Musk's testimony so far.

Musk thought a handshake deal meant Saudi Arabia's sovereign wealth fund would back taking Tesla private

Yasir Al-Rumayyan, who is the governor of Saudi Arabia's $620 billion wealth fund, is a central figure in the ongoing trial. Musk thought a handshake with Al-Rumayyan meant the Saudi fund was willing to give him the necessary