Elon Musk Testifies in Trial Over Controversial Tweet, Pushes Back at Idea it Was Partly a Joke

Tesla CEO Elon Musk took the witness stand for a second day on Monday in a trial over a controversial tweet from 2018. Musk is being sued by Tesla investors who claim the tweet caused them to lose substantial sums of money.

In the tweet, Musk said he was thinking about taking Tesla private for $420 a share and had “funding secured.” Musk attempted to explain the thought process behind the tweet, pushing back at the idea that it was partly a joke.

U.S. Judge Edward Chen has already ruled the tweet was false and reckless. Musk believes he can convince the jury that he did not know the tweet was false when he sent it, and that in any case the movements of Tesla’s stock price are not directly tied to his tweets.

On Monday, Musk shared his recollection of the incident in his testimony. He told a nine-person Northern California jury that his tweets are truthful but limited by Twitter’s 280-character count. Musk had spoken to executives of the Saudi sovereign wealth fund about the funding he would need to take Tesla private.

The trial is ongoing and it remains to be seen whether Musk will be able to convince the jury of his innocence.