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Musk Saw SpaceX, Saudi Money as Key to Taking Tesla Private (2)

Jan. 23, 2023, 11:34 PM

Elon Musk told a jury that his 2018 tweet announcing a proposal to take Tesla Inc. private included the possibility of using his holdings in SpaceX to help finance the transaction, along with a multibillion-dollar commitment by Saudi Arabia’s sovereign wealth fund.

As the star witness in a securities fraud trial in San Francisco, the Tesla CEO was defending the famous tweet in which he said he was considering taking the electric-car maker private and had “funding secured.” Investors have alleged the tweets were lies that cost them big losses from wild stock price swings over a 10-day period before ...