Ex-aide says Elon Musk had ‘handshake deal’ for Tesla buyout

Published February 1, 2023 2:04 pm

By MICHAEL LIEDTKE
AP Technology Writer

SAN FRANCISCO (AP) — Elon Musk’s former chief of staff has testified that the billionaire believed he had a “handshake deal” to take Tesla private in 2018. That was shortly before he tweeted he had the financing for an aborted buyout that still is still haunting him in a high-profile trial. The former aide, Sam Teller, detailed that Musk held with representatives from Saudi Arabia’s Public Investment Fund during testimony in a trial triggered by a class-action lawsuit filed on behalf of Tesla shareholders alleging Musk misled them in August 2018 indicating a buyout of the electric automakers was in the works. A nine-person jury is expected to begin its deliberations Friday.

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