- Elon Musk said his “extremely good” track record made getting investment support easy, per AP.
- Musk said he had “no ailing motive” by tweeting his “funding secured” tweet in 2018, AP reported.
- An ex-Tesla director described Musk in court as “the Michael Jordan of fundraising,” it added.
Elon Musk said it’s quite easy for him to get investors’ support due to his successful track record up to now, AP reported.
During a trial over accusations that Musk committed securities fraud, he said: “It is comparatively easy for me to get investment support because my track record is amazingly good,” per AP.
It appeared Musk was referring to the success of his various corporations, including Tesla, his electric carmaker; SpaceX, his aerospace company; and PayPal, the digital payment firm that he was involved with, AP reported.
SpaceX told prospective investors it plans to boost $750 million in a brand new round of funding led by Andreessen Horowitz, CNBC reported in January. SpaceX was eyeing a valuation of $137 billion, the report said.
Meanwhile, Musk said in an earnings call on Wednesday he was certain that “Tesla might be the most respected company on earth.” Tesla has a market capitalization of around $560 billion, per MarketWatch.
Nevertheless, Musk’s self-assurance about securing financial support has landed him in court, per AP.
Musk is testifying in a trial over accusations that he illegally manipulated Tesla’s stock price by tweeting in 2018 that he had “funding secured” to take the corporate private at $420 a share. However the deal never went through.
Recently in court, Musk testified that he had “no ailing motive” and his “intent was to do the correct thing for all shareholders,” AP reported.
Musk said in court on January 24 he could have sold enough SpaceX stock to fund a Tesla buyout.
“I sold Tesla stock to finish the Twitter transaction. And I’d have done the identical here,” Musk said, as reported by CNBC.
Former Tesla director Antonio Gracias, recently testified that Musk was “the Michael Jordan of fundraising,” in reference to him potentially having the ability to fund a buyout, AP reported.