Skip to content
Matt Levine

Elon Musk Never Jokes

Weed jokes, fundraising skills, merger processes, plus Americanas and the Cravath Walk.

In August 2018, Elon Musk tweeted that he was “considering taking Tesla private at $420. Funding secured.” Funding was not secured, Tesla did not go private, and Musk was sued for fraud both by the US Securities and Exchange Commission and by a class of investors who traded Tesla shares based on that tweet. Musk quickly settled with the SEC, but the class action dragged on. There is now a jury trial in California, and Musk has been testifying Friday, Monday and today.

Here is a paragraph of the 2018 SEC complaint that I have quoted before: