Elon Musk

2022 - 3 - 11

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Image courtesy of "Livemint"

Elon Musk's claim 2018 tweet was truthful gets hard look from judge (Livemint)

The billionaire and his electric-car company may soon be headed to trial in a fight with shareholders who allege the Twitter post cost them billions of dollars ...

Nicholas Porritt, a lawyer representing shareholders, focused on the past-tense of the final word of the tweet. Yet, Musk never spoke to any potential investors other than the Saudi fund, which he intended to only take a small stake in the unformed transaction, Porritt said. “I would never lie to shareholders," Musk said this week in a sworn statement to a New York judge who’s handling the SEC case. If anything, shareholders interpreted Musk’s tweet to mean “Elon might be making a bid to take it private," Spiro said. The entrepreneur -- now the world’s richest person -- has “great personal resources that he can bring to bear." A ruling in favor of the investors would allow them to focus at trial solely on connecting Musk’s alleged false statement to their stock market loss.

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Image courtesy of "Bloomberg"

One Elon Musk Tweet Supercharged a Texas Region's Transformation (Bloomberg)

Fans and investors are flocking to the area near the billionaire's SpaceX launch site, bringing both opportunity and angst for locals.

Bruno Zavaleta, a local real estate agent, had one client drive 16 hours from Atlanta and snap up two properties in cash the day he arrived. “There's no way I would even consider it,” said Wood, a software engineer and space enthusiast based outside of Austin, who bought the condo during the pandemic after visiting with his family. To him, it’s “mind-blowing” to see what Musk’s SpaceX is doing at its launch site near the Gulf of Mexico.

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