Saudi backer balked: Musk

Elon Musk testified on Monday that he was sure he had backing from Saudi financiers in 2018 to take Tesla private but said the fund later backpedaled on its commitment.

Musk said PIF made clear they would do what it took to make a buyout happen. “PIF unequivocally wanted to take Tesla private,” he testified.

Musk is defending against claims that he defrauded investors.