Court filing reveals new insights around ‘funding secured’ tweet in 2018

Elon Musk on his phone

A 300-page motion filed with courts late last week has revealed some insights about Elon Musk‘s tweet back in 2018 around ‘funding secured’ to take Tesla private.

Musk and Tesla of course are currently being sued by stakeholders due to the tweet.

The texts unveil an interesting discussion between Musk and Yasir Al-Rumayyan, head of the Saudi Public Investment Fund (PIF).

The texts reveal that Musk was working towards a deal, but then walked away after supposed leaks from the PIF to journalists claiming there was no deal.

Musk has always been about being upfront and honest, and reporting at the time paired with weak Saudi statements angered the Tesla CEO.

Despite a promising partnership, evidently things did not work out.

Musk also noted that Tesla was going to go forward with a proposal from Silver Lake and Goldman, but as we have since seen, that did not pane out.

Musk spoke on the release of the 2018 tweets in a response to Whole Mars Catalog.

The tweet said:

The head of Saudi PIF committed unequivocally to take Tesla private with me, as witnessed by the Tesla CFO and several others. That is why I said funding was secured.

At least to say, these text records are an interesting glimpse into the back story of the infamous 2018 tweet.

It will be interesting to see where things go from here, and how these messages effect the upcoming case.

About Scott Nordlund 951 Articles
Originally from the West Coast, Scott is an avid writer & EV enthusiast now living in Ottawa. He holds a MA in Political Science and once played professional football in the German Football League. Email scott@driveteslacanada.ca