According to the documents, which relate to a lawsuit filed by Tesla shareholders regarding Musk’s tweets in 2018, in which he said he had obtained financing to turn the electric car maker into a private company, that Al-Rumayyan offered Musk support of up to $ 60 billion for this endeavor.
Court documents showed that Tesla billionaire CEO Elon Musk had met with the governor of the Saudi sovereign wealth fund, Yasser Al-Rumayyan, on several occasions, and that Al-Rumayyan urged Musk to turn Tesla into a private company.
According to the documents, which relate to a lawsuit filed by Tesla shareholders regarding Musk’s tweets in 2018, in which he said he had obtained financing to turn the electric car maker into a private company, that Al-Rumayyan offered Musk support of up to $ 60 billion for this endeavor.
Investors sued in August 2018, shortly after Musk said on Twitter he was considering taking Tesla private at $420 per share. “Funding is guaranteed,” he said.
In another tweet during the same day, he wrote, “Investor support is confirmed,” adding, “The only reason why this is not certain is that it is contingent on the shareholder vote.”
The trial is expected to last about three weeks.
