Elon Musk gets clean chit over 2018 tweet row

The World’s richest man Elon Musk was accused of committing fraud by making false public statements. He was accused of making false statement for hurting investors sentiment.

In 2018 Elon Musk in series of tweets said that he will take Tesla private. He also claimed that he had secured funding for this project. Soon after his announcement Tesla share rally upto 11% and after the news go cold it fell by more than 7%.

Elon Musk, World’s richest person in 2023, was sued by investors who accused him of committing fraud. Investors claimed in court that Musk has done the fraud by making false public statements with the potential to hurt shareholders.

After 5 years, the nine-member jury given its verdict after a three-week trial. Musk, too, had appeared in court for closing arguments, according to The Guardian.

In his testimony earlier this week, Musk insisted that he believed he had secured funds from Saudi Arabia’s Public Fund to take Tesla private, reported the Associated Press.

“I had no ill motive,” Musk said during his testimony. “My intent was to do the right thing for all shareholders.”

Soon after getting clean chit he use twitter to show his gratitude. He tweeted “Thank goodness, the wisdom of the people has prevailed!”

Kapil Khatri

I write about Finance, Economic and Social issues. I also write on topics which have public importance.

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