"It’s not because I tweet something that people believe"says Elon Musk before jury

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Billionaire went on trial for posting on his Twitter account that he was considering taking the electric car maker off the stock exchange. Shareholders claim they were hurt by comments that did not materialize. Elon Musk GETTY IMAGES via BBC Tesla Chief Executive Elon Musk testified on Friday that investors don’t necessarily react to his Twitter messages the way he expects, offering his side in a fraud trial as a result of a 2018 tweet in which he claimed to have funding to take the company private. UNDERSTAND: Elon Musk’s two Tesla tweets that landed him on trial in the US Musk’s testimony began with questions about his use of Twitter, the social media platform he purchased in October. He called the site the most democratic way to communicate, but said his tweets don’t always affect Tesla stock the way he hopes. “It’s not because I tweet something that people believe or act on,” Musk told a jury in federal court in San Francisco. Musk testified for less than 30 minutes before the session was adjourned until Monday. He was not asked about his 2018 tweet in which he said he was considering delisting Tesla and had “funding secured”. He is expected to explain why he insisted he had the backing of Saudi investors to take Tesla private, which never happened, and whether he knowingly made a statement that could mislead his shareholders with the tweet. ‘Big techs’ lose almost US$ 4 trillion in market value in 1 year What made Elon Musk become the first to lose US$ 200 billion of fortune? Twitter has laid off 80% of its employees since Musk bought the network Initial plugin text

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