Elon Musk

A US jury on Friday found Tesla Inc CEO Elon Musk and his company were not liable for misleading investors when Musk tweeted in 2018 that he had "funding ...

The verdict comes after a three-week trial that pitted shareholders against the billionaire and company CEO.

“He took control of the conversation and rephrased it in a way that benefitted him.” “They never went down that path, which I found surprising.” White also said Musk managed to turn his own testimony in a direction that may have impressed the jury. “It definitely gives a roadmap for companies trying to defend statements made on social media.” “So the drama’s not over.” As part of his settlement with the US agency, Musk had to agree to a requirement his tweets be approved by a Tesla attorney before being published – a clause he has been [accused](https://www.theguardian.com/technology/2021/jun/02/elon-musk-tweets-tesla-sec-settlement) of violating multiple times since. “I am deeply appreciative of the jury’s unanimous finding of innocence in the Tesla 420 take-private case.” Alex Spiro, Musk’s attorney, conceded the 2018 tweets were “technically inaccurate”. Musk appeared in court on Friday for closing arguments, even though his presence wasn’t required, underscoring the importance of the trial’s outcome to him. “Just because I tweet something does not mean people believe it or will act accordingly,” he told the jury. The billionaire testified on multiple days of the trial, arguing that his tweets were a democratic way to communicate and did not always affect The decision marks an important victory for Musk, who is embroiled in several lawsuits and has aggressively fought any charges that he was guilty. The posts triggered stocks to surge over a 10-day period before falling back after Musk abandoned the deal, investors argued.

Elon Musk was found not liable in a class-action securities fraud trial that centered on the Tesla CEO's now infamous "funding secured" tweet.

The case centered on whether investors lost money because they believed Mr. Musk's social media posts about taking Tesla private in 2018.

The shareholder has asked the court to void the pay deal, which gave Mr. Musk, that the deal had collapsed because “his motive was to do right for the shareholders.” They paid $40 million in fines to the S.E.C., and Mr. The two men were engaged in an acrimonious dispute about the rescue of children trapped in a cave in Thailand a year earlier. There was also neither a definitive structure for a private Tesla nor a clear path to regulatory approval for the plan, the lawyers said. Musk said he was considering taking Tesla private, a statement that they say was true. He added that the stock market “only works because there are rules that keep people honest, so people can trust information in the market.” “This case is about whether rules that apply to everybody else should apply to Elon Musk,” Mr. The verdict allows Mr. Musk knew Tesla was nowhere near going private because no individuals and investment funds had committed specific amounts of money to the deal. Musk, the automaker’s chief executive, have argued that he was such a successful businessman that he could have easily obtained financing to take Tesla private. Chen, had already ruled that “funding secured” and Mr.

Innisfree M&A says Twitter, which Elon Musk bought last year, has not paid it $1.9 million for services it rendered for the deal.

Musk completed the acquisition of Twitter in [October](https://www.nytimes.com/2022/10/27/technology/elon-musk-twitter-deal-complete.html), the bill became his. Musk to break up the deal. The investment banks Morgan Stanley, Bank of America and Barclays collectively lent about $13 billion to finance Mr. The advisory firm, through its lawyer, sent a letter to Twitter on Dec. But it’s far from certain whether [he would actually step down as the boss](https://www.nytimes.com/2022/12/21/business/dealbook/elon-musk-twitter-ceo.html?action=click&pgtype=Article&state=default&module=styln-elon-musk&variant=show®ion=MAIN_CONTENT_1&block=storyline_top_links_recirc). In its lawsuit, Innisfree says it first sent an invoice to Twitter around Sept. Innisfree helped advise Twitter executives and sent out a flurry of communications to shareholders about a vote And the severance offered to laid-off employees was lower than what had been promised by Twitter’s previous management team, prompting suits by many of those former employees. 28, Twitter said the invoice had been “successfully processed.” When Innisfree did not receive payment, it followed up twice in December, the complaint says. [Elon Musk](https://www.nytimes.com/topic/person/elon-musk) last year. Musk has also avoided making payments to some of Twitter’s former executives, who were set to receive multimillion-dollar payouts when he fired them. Musk took over the company.

A California jury has ruled that Elon Musk is not liable for losses experienced by Tesla shareholders following his controversial "funding secured" tweet ...

A turn from losses to profits about a year after the tweet started Tesla shares on an extraordinary run, gaining 1520% from the day of the tweet to its record high in November 2021. [(TSLA)](https://money.cnn.com/quote/quote.html?symb=TSLA&source=story_quote_link) shares initially climbed 11% on the day of Musk’s original “funding secured” tweet, but they never reached that promised $420 level, reaching a high that day of $387.46. [Securities and Exchange Commission](https://money.cnn.com/2018/09/27/technology/elon-musk-sec/index.html), the federal agency charged with protecting investors by requiring executives to tell the truth. It eventually reached a [settlement](https://money.cnn.com/2018/09/29/technology/business/elon-musk-tesla-sec-settlement/index.html) with Musk in which he and Tesla each agreed to pay $20 million in fines, and Musk gave up his title as chairman of the company but retained the CEO title. “I am deeply appreciative of the jury’s unanimous finding.” That prompted the shareholder suit that is just now reaching trial after more than four years.

Elon Musk's space company is revolutionizing the industry, but private investment into other space companies has plummeted.

Musk is rumored to be considering [taking Starlink public](https://fortune.com/2023/01/13/elon-musk-spacex-starlink-ipo-2023-calanis-chamath-palihapitiya/) as a SpaceX spinoff, and venture capitalist Chamath Palihapitiya predicted last month that the satellite unit would garner a valuation of at least half what SpaceX is currently worth. Either way, space startups will have to be creative to succeed in the industry. Axiom, meanwhile, is developing the world’s first commercial space station, and last year unveiled [details](https://www.axiomspace.com/news/ax-1-research-expands-access-to-iss) behind its plans to conduct scientific research on stem cell treatments for cancer in low-Earth orbit. In the immediate future, small space companies and startups may be faced with more headwinds than they would like, and no one knows if SpaceX’s success will help or be an obstacle. Axiom plans to launch the first section of its space station to orbit [in 2025](https://www.axiomspace.com/axiom-station#:~:text=Axiom%20Space%20is%20preparing%20for,to%20the%20International%20Space%20Station.). Because of Starship’s reusability and powerful engines, SpaceX could dominate space exploration for decades to come. It could also serve to further entrench SpaceX’s leadership as far as rockets and launch capabilities go. While Astrobotic did not disclose the amount of funding, it was one of six NASA awards for small businesses that were worth $27 million in total. “If you want to use a rocket metaphor: The fueling stage is over. Companies making riskier bets that take more time to mature, like lunar exploration or private space stations, will be the hardest hit, experts said. The rest of the private space economy, however, is facing major turbulence. [doomed to fail](https://www.cnbc.com/2017/09/29/elon-musk-9-years-ago-spacex-nearly-failed-itself-out-of-existence.html): His space company [SpaceX](https://fortune.com/company/spacex/).

Billionaire makes surprise appearance in California court for closing arguments; jurors believe Musk was credible when he said he thought he had Saudi ...

He could have been saddled with a bill for billions of dollars in damages had the jury found him liable for the 2018 tweets that had already been deemed falsehoods by the judge presiding over the trial. He defended his initial August 2018 tweet as well-intentioned and aimed at ensuring all Tesla investors knew the automaker might be on its way to ending its run as a publicly held company. The automaker based in Austin, Texas, is now worth nearly $600 billion, despite a steep decline in its stock price last year amid concerns that Musk’s purchase of Twitter would distract him from Tesla. During their discussion with Porritt, the jurors told them they found Musk’s testimony that he believed he had lined up the money from Saudi Arabia’s Public Investment Fund without a written commitment to be credible. A few hours later, Musk sent another tweet indicating that the deal was imminent. The nine-member jury reached its verdict after less than two hours of deliberation following a three-week trial.

Musk was accused of deceiving investors when he tweeted he had secured enough funding to take Tesla private.

A text message that al-Rumayyan sent later in August, part of the trial’s evidence, also indicated that the Saudi fund was only interested in learning more about Musk’s proposal to take Tesla private. The automaker based in Austin, Texas, is now worth nearly $600bn, despite a steep [decline in its stock price](/economy/2022/12/14/tesla-shares-at-lowest-level-in-two-years-as-investors-bash-musk) last year amid concerns that Musk’s purchase of Twitter would distract him from Tesla. He defended his initial August 2018 tweet as well-intentioned and aimed at ensuring all Tesla investors knew the automaker might be on its way to ending its run as a publicly held company. The civil case centred on two tweets Musk posted on August 7, 2018 about a Tesla buyout that never happened. He could have been saddled with a bill for billions of dollars in damages had the jury found him liable for the 2018 tweets that were already deemed falsehoods by the judge presiding over the trial. Earlier on Friday, Musk sat stoically in court as closing arguments were presented in the trial.

A jury found the Tesla CEO not liable in a shareholder lawsuit, but the case revealed a lot about Musk's refusal to back down.

On the one hand, Twitter has provided a handy platform for Musk to share his views and news about his companies; his off-the-cuff Twitter persona helped [grow his fan base](https://www.vox.com/recode/2022/10/28/23426922/elon-musk-army-fandom-former-fans-twitter-ceo), which has bolstered Tesla’s popularity and stock value. More recently, Musk has extolled Twitter’s ability to be a better source of news than “ [old-school media](https://twitter.com/elonmusk/status/1593160857588232192)” with [less bias](https://twitter.com/elonmusk/status/1585292083610279936). [sowed chaos](https://www.vox.com/the-goods/2022/11/28/23473239/elon-musk-twitter-ceo-leadership) over the past several months through mass firings and haphazard changes that have led to an exodus of advertisers and a rise in hate speech. “Twitter is arguably already the least wrong source of truth on the Internet, but we obviously still have a long way to go,” Musk [tweeted](https://twitter.com/elonmusk/status/1616179085507702785) recently. Making the case even more difficult to parse, the governor of the Saudi fund, Yasir Al-Rumayyan, [refused to testify](https://www.bloomberg.com/news/articles/2023-01-12/saudi-pif-seeks-to-block-subpoena-in-musk-s-tesla-fraud-case) in the case. [Times interview](https://www.nytimes.com/2018/08/16/business/elon-musk-interview-tesla.html) with Musk, on August 17, Tesla’s closing price was just under 9 percent lower than the previous day’s close. [motion](https://storage.courtlistener.com/recap/gov.uscourts.cand.330489/gov.uscourts.cand.330489.403.0.pdf) filed in April 2022 revealed that Musk had one conversation with the Saudi PIF before the August 7 tweet. He also [told the court](https://www.ft.com/content/f64e3214-f94f-462b-90a4-e9d35d7143da) that he wanted to get ahead of a [Financial Times article](https://www.ft.com/content/42ca6c42-a79e-11e8-926a-7342fe5e173f) reporting that the Saudi fund would acquire a [3 to 5 percent stake in Tesla](https://www.bloomberg.com/news/articles/2023-01-24/key-takeaways-from-musk-s-third-day-of-testimony-in-fraud-trial). “If they say they’re going to do something, they do it,” Musk [said](https://www.bloomberg.com/news/articles/2023-01-23/key-takeaways-from-musk-s-second-day-of-testimony-in-fraud-trial) in court. Musk, who has treated the [SEC with contempt](https://www.reuters.com/technology/musk-says-us-sec-bastards-forced-settlement-over-tesla-tweets-2022-04-14/), says he was coerced into agreeing to this particular leash. Funding secured.” The stock price, which had hovered [above $340](https://www.bloomberg.com/graphics/2018-teslas-crazy-day/) when the markets opened that day, swung up as shareholders envisioned a tidy profit when the buyout was complete. [securities fraud](https://www.sec.gov/news/press-release/2018-226) in connection with the missive in 2018; he and Tesla settled and were ordered to pay a $40 million penalty, and Musk was required to step down as chair of the Tesla board for three years.

The CEO called the class-action lawsuit about his tweets on taking Tesla private a way to clear the record.

[ruled in his favor](https://www.wsj.com/articles/elon-musk-found-not-liable-in-trial-over-tweets-proposing-to-take-tesla-private-11675464951?mod=article_inline) in a securities-fraud lawsuit in which investors alleged they felt misled into losing money after his 2018 tweets claimed to have “funding secured” to take Tesla Inc. [Kohl's Coupon 30% off sitewide](https://www.wsj.com/coupons/kohls) And twice a jury has vindicated him.

Elon Musk continues to look for ways to make Twitter profitable and make back his investment and this time he's going after businesses.

“Starting today, Twitter will share ad revenue with creators for ads that appear in their reply threads,” Musk tweeted. Well-known brands received a golden checkmark to distinguish them from the blue checkmarks, which now means they are subscribers of Twitter Blue. The monthly rate would also show subscribers fewer ads and rank their replies higher than non-subscribers.

Elon Musk wants companies and brands on Twitter to fork over $1000 per month to get verified check-marks on his social network.

I am deeply appreciative of the jury’s unanimous finding of innocence in the Tesla 420 take-private case.” In 2018, the SEC sued Musk over his claims about taking Tesla private; Musk and the company settled the case, [paying $40 million in penalties](https://www.sec.gov/news/press-release/2018-226), without admitting guilt. He added that Twitter would split revenue only with creators who [subscribe to Twitter Blue](https://variety.com/2022/digital/news/twitter-blue-relaunch-blue-check-mark-imposters-1235456618/) but otherwise didn’t provide additional details on how the program is supposed to work, including how much users can expect to be paid. [the new Twitter Blue for Business service](https://variety.com/2022/digital/news/twitter-blue-for-businesses-square-profile-pics-verified-1235465778/), which is “a new way for businesses and their affiliates to verify and distinguish themselves on Twitter,” the company announced in December. [announced](https://twitter.com/elonmusk/status/1621544497388875777) that Twitter would start sharing ad revenue with creators for “ads that appear in their reply threads” starting of Feb. [$12.5 billion in debt](https://www.bloomberg.com/news/articles/2023-01-30/twitter-said-to-make-first-interest-payment-on-musk-buyout-debt) and wants to ramp up subscription revenue to meet those obligations (amid an 80% reduction in Twitter’s headcount). Tech news site The Information [confirmed](https://www.theinformation.com/briefings/twitter-considers-charging-brands-1000-per-month-to-stay-verified) the details, adding that the pricing “is being finalized and could still change.”

Twitter seems poised to start charging major brands and companies a lot of cash to hold on to their gold checkmarks going forward.

Of course, this is just the latest money-making gimmick from Elon. On the contrary, this looks to be aimed more so at straight up corporations -- like Target, Bank of America, etc. They're calling the program Verified for Organizations, and it sounds like they're reaching out to brands now to get them onboard early. Another separate reporter, Matt Navarra, appeared to confirm Twitter's plans ... [The Information](https://www.theinformation.com/briefings/twitter-considers-charging-brands-1000-per-month-to-stay-verified) suggests [Elon Musk](https://www.tmz.com/people/elon-musk/) and co. who'll have pay a pretty penny for their verification status.

There is one idea that Elon Musk has for Twitter that on the surface, actually sounds pretty good. He subscribes to the notion that Twitter users are ...

Or people may behave like Musk himself, and rip memes or jokes from funnier people without giving credit in order to farm impressions that now may actually be profitable. [announced](https://twitter.com/elonmusk/status/1621544497388875777) that “starting today,” creators would be able to share in the revenue generated from the newly-inserted ads in reply threads. There are also large implications for the site if say this does work and is a serious revenue generator for creators. Musk also reiterated that current blue checks on the site who got theirs under the “legacy” system will lose them, so no free rides on the ad share for existing bigger names on the site, unless they pay for Blue. It reminds me of the old days of Beachbody coaches on my Facebook feed, trying to offset their $100 a month subscriptions to Shakeology by selling 20 other people the same product. There is one idea that Elon Musk has for Twitter that on the surface, actually sounds pretty good.

Elon Musk said that due to feedback Twitter will provide a write-only API for "bots providing good content that is free."

(Reuters) - SpaceX may attempt a Starship rocket system launch in March, its billionaire chief Elon Musk said in a tweet on Saturday.

Musk had in January said that there was a "real shot" at launching Starship in late February, adding that a March launch attempt appears highly likely. "If remaining tests go well, we will attempt a Starship launch next month," Musk said, in a response to a user's tweet about Starship. (Reuters) - SpaceX may attempt a Starship rocket system launch in March, its billionaire chief Elon Musk said in a tweet on Saturday.