Musk tells court Saudis ‘unequivocally’ backed plan to take Tesla private

The trial tests Musk’s penchant for using Twitter to air his sometimes irreverent views, and when the world’s second-richest person can be held liable for crossing a line.

Speaking in a soft, halting tone on Monday, Musk said he had been losing sleep during the trial, saying he “had trouble sleeping last night and unfortunately I am not at my best”. “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,” Musk testified.He added that it was important for jurors to know that he “felt that funding was secured” due to his ownership of “SpaceX stock alone”.

A jury of nine will decide whether Musk artificially inflated Tesla’s share price by touting the buyout’s prospects, and if so by how much.In Monday’s questioning Nicholas Porritt, a lawyer representing Tesla shareholders, alluded to Musk’s previous use of marijuana, asking if Musk had chosen the $420 proposed share price in an allusion to the slang term for marijuana: “420.”

After it became apparent that the money wasn’t in place to take Tesla private, Musk stepped down as Tesla’s chairman while remaining CEO as part of the Securities and Exchange Commission settlement, without acknowledging any wrongdoing. “Elon Musk is famously unpredictable,” said law professor Stavros Gadinis, director of UC Berkeley’s Center for Law and Business. “He also has a hot temper. He might say things that do not toe the line” with the main arguments his attorneys are trying to make.

Musk deep relationship with the Saudis is unsettling.

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