Bloomberg News reports, while Elon Musk is testifying in federal court. In San Francisco, Tesla’s second tweet handling day of 2018, his wealth grew the most in more than two months.
According to the Bloomberg Billionaires Index, Elon Musk’s fortune rose by about $10.6 billion to $145.2 billion. Since going to court on Friday (January 20), and it is the biggest two-day increase since November. His fortune has rebounded this year with the world’s 500 richest people as the market recovers from the volatility in 2022.
Reports say Musk, 51, is facing a securities fraud case. Because of the message he tweeted in August 2018 that “Considering taking Tesla off the market at a price of $420 per share. There is already a funding source,” investors argued that Musk’s claim that he has the money to take Tesla off on the market is a lie. And cause investors to lose big money before abandoning the scheme.
Mr Musk insisted there was no link between his tweets and stock price movements. Tesla shares rose as much as 13.3% on the day Musk tweeted.
It was unclear how the federal jury trial would proceed. The minutes of the conversation, released on Monday in a court filing, show that Musk told Saudi investors in 2018 that he did not have enough Tesla stock to simply take it off the market Mr. Musk said that the Saudi Public Investment Fund (PIF) “definitely wants to take Tesla out of the market” and accused PIF chairman Yasir al Rumaiyan of reversing a deal.
The chat log indicates that Musk said he owned about 19% of Tesla at the time and could have as much as 25% if options were exercised. But it now owns about 13% after selling nearly $40 billion since the end of 2021 to pay taxes and fund its Twitter acquisition.
