Elon Musk has told a court he believed he had enough backing to take Tesla private after posting a controversial tweet.
The electric car company boss is on trial after investors claimed the 2018 tweet cost them millions of dollars when a deal fell through.
Mr Musk claims he met with a Saudi Arabian sovereign wealth fund, which indicated it would back a deal.
He added he sold his stake in the SpaceX rocket company to raise money.
Mr Musk has been accused of defrauding investors after he tweeted on Aug. 7, 2018 that he had “secured funding” to take Tesla private for $420 a share and that “investor support was confirmed.” .
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