FILE – Tesla and SpaceX Chief Executive Officer Elon Musk speaks at the SATELLITE Conference and Exhibition in Washington. A federal judge on Friday, Jan. 13 2023 rejected Tesla CEO Elon Musk’s bid to move or delay a trial over a misleading tweet about a potential buyout of the electric automaker, setting the stage for the mercurial billionaire to be thrust into a legal drama amid the turmoil of his Twitter takeover. (AP Photo/Susan Walsh, File)
SAN FRANCISCO (AP) — Long before beleaguered billionaire Elon Musk purchased Twitter in October, he had set his sights on Tesla, the electric automaker where he serves as CEO and from which he derives most of his wealth and fame. Musk claimed in a August 7, 2018 tweet that he had lined up the financing to pay for a $72 billion buyout of Tesla, which he then amplified with a follow-up statement that made a deal seem imminent. But the buyout never materialized and now Musk will have to explain his actions under oath in a federal court in San Francisco. The trial, which begins on Tuesday with jury selection, was triggered by a class-action lawsuit on behalf of investors who owned Tesla stock for a 10-day period in August 2018.