Categories Tech News
Elon Musk’s securities fraud trial starts today — here’s what you need to know
January 17, 2023
Before Elon Musk bought Twitter and ran it off a cliff, he used the social media platform to post an incredibly ill-considered tweet that ended up costing him millions of dollars and a coveted job title. Today, a trial in San Francisco related to that tweet is getting underway — the outcome of which could cost Musk money and status, depending on how it turns out.
Of course, I’m referring to his infamous “funding secured” tweet in which he said he was considering taking Tesla private at $420 a share.
It was later revealed that Musk had not actually secured the funding. After an investigation, the SEC fined him $40 million, and Musk was forced to step down as chair of Tesla’s board. Amazingly, the tweet continues to haunt him to this day:…