International
Elon Musk takes stand in Tesla tweet fraud trial
January 23 | By AFP | Glenn Chapman |
Tesla CEO Elon Musk took the stand in a California fraud trial on Friday, accused of lying in tweets about taking the auto company private, punishing investors.
Musk was called to testify by lawyers for angry investors who accuse him of costing them millions of dollars in 2018 with untrue tweets about having funding secured to buy out shareholders at $420 a share.
The multi-billionaire’s tweets sent the Tesla share price on a rollercoaster ride and Musk was sued by shareholders who say the tycoon acted recklessly in an effort to squeeze investors who had bet against the company.
Musk, who bought Twitter itself in October, downplayed the power of his tweets noting under questioning that he once posted that he thought Tesla share price was too high, and “it went higher, which is counter-intuitive.”
“What I’m trying to say is that the causal relationship is clearly not there simply because of a tweet,” Musk said in a testimony that lasted only thirty minutes and was to be continued on Monday.
The hearing on Friday began with Harvard law and business professor Guhan Subramanian, who was called as an expert witness by the plaintiffs.
He called Musk’s tweeted proposal to take Tesla private as “illusory” and “just wrong” in how it deviated wildly from the way such mega-deals usually take place.
“All I can say is this is just wrong; as a matter of deal process… this isn’t correct,” Subramanian said while being questioned by a defense lawyer about Musk’s tweets.
‘Reckless’ words
Testimonies in the trial opened Wednesday with a lawyer for the upset investors telling jurors Musk lied about having funding in place.
Nicholas Porritt, who represents lead plaintiff Glen Littleton and other Tesla investors, said the tweets cost “regular people” to lose “millions and millions of dollars.”
Called as the first witness, 71-year-old Littleton told jurors he was heavily invested in Tesla in 2018 in a way that banked on the share price climbing to $500 or more.
Littleton testified that he was “pretty shocked” by Musk’s tweet about taking the company private at $420 a share because it threatened almost all the money he had invested in Tesla.
“It was going to pretty much wipe me out,” Littleton said.
Littleton told jurors he scrambled to save what he could of his investments, getting out of most of his positions at a huge loss.
Musk is expected to continue testifying at trial on Monday, when his lawyers will get a chance to refute the accusation that he was being deceitful.
The case revolves around a pair of tweets in which Musk said “funding secured” for a project to buy out the publicly traded electric automaker, then in a second tweet added that “investor support is confirmed.”
Porritt told jurors that Musk had selected the $420 share price in the tweet “as a joke” and that the funding to take Tesla private was never locked in, nor credibly pursued.
In his own opening remarks, Musk attorney Alex Spiro said that even though the tweets may have been a “reckless choice of words”, they were “not fraud, not even close.”
The fraud trial is expected to last three weeks.
International
Top U.S. Military Commander Meets Interim Venezuelan Leaders After Maduro’s Capture
The commander of the United States Southern Command, Marine Francis L. Donovan, visited Venezuela on Wednesday, holding meetings with interim leaders following the recent capture of former President Nicolás Maduro by U.S. forces. The visit, confirmed by both U.S. and Venezuelan officials, marked a significant diplomatic and security engagement in Caracas.
Donovan, accompanied by senior U.S. officials including acting Assistant Secretary of Defense Joseph M. Humire and top diplomat Laura Dogu, met with acting President Delcy Rodríguez and key members of her cabinet, including Defense Minister Vladimir Padrino López and Interior Minister Diosdado Cabello.
According to official statements, discussions focused on strengthening bilateral cooperation on regional security issues, including efforts to combat illicit drug trafficking, terrorism, and migration. Both sides reiterated a commitment to pursuing diplomatic engagement and shared security goals for Venezuela and the Western Hemisphere.
The meetings also discussed progress on a three-phase plan supported by the United States to help stabilize Venezuela, following Maduro’s removal from power and subsequent detention in the U.S. on drug-related charges. This agenda reflects expanding U.S. engagement with Venezuela’s interim government amid broader efforts to restore diplomatic relations and address regional challenges.
The visit concluded on Wednesday, underscoring a growing U.S. focus on cooperation with Venezuelan authorities in the aftermath of major political developments earlier this year.
International
Bayly Says Trump ‘Gets Along Better With Dictators’ and Criticizes U.S.–Venezuela Policy
Peruvian author and journalist Jaime Bayly said Tuesday in Madrid that U.S. President Donald Trump “gets along better with dictators than he does with democrats” and that his administration is experiencing “a honeymoon with the Venezuelan dictatorship,” according to a report on his remarks during the launch of his new novel Los golpistas (Galaxia Gutenberg).
Bayly made the comments while presenting the book, which reconstructs the turbulent three days in April 2002 when Venezuelan leader Hugo Chávez briefly lost power. He also sharply criticized the current Venezuelan leadership, saying that Delcy Rodríguez should be recognized as a dictator and “a continuation of Maduro’s dictatorship.”
The writer lamented that the failed 2002 coup — which he described as carried out by “amateurs” — did not lead to free elections that might have restored democracy to Venezuela. He argued that, even now, U.S. policy under Trump seems more focused on securing access to Venezuelan oil than on supporting Venezuelans’ freedom. “Venezuela could have chosen a free, clean and legitimate government — which we still impatiently await despite Trump, who only seems interested in freeing Venezuelan oil, not Venezuelans,” Bayly said.
Bayly also claimed that “every day that passes, Trump seems more enchanted with Delcy,” suggesting that Washington might leave Venezuelan leaders in power so long as they cooperate on economic interests.
A U.S. citizen who has lived in Miami for decades, Bayly said he is proud never to have voted for Trump, whom he described as “servile with the powerful and cruel with the weak.” He also criticized U.S. immigration enforcement as abusive.
Regarding the book’s creative process, Bayly said he combined extensive documentation and interviews with historical events, weaving fictional dialogue and narrative into real episodes without altering core facts. Los golpistas explores why the April 2002 coup attempt against Chávez failed and how key figures such as Chávez and Cuban leader Fidel Castroshaped modern Venezuelan history.
International
Maduro and Cilia Flores Receive Consular Visit in U.S. Jail Ahead of March 26 Hearing
Venezuelan President Nicolás Maduro, who is detained in the United States, and his wife, Cilia Flores, received a consular visit from a Venezuelan government official on January 30 while they remain in a New York jail awaiting their next court appearance, scheduled for March 26, 2026, according to a court filing.
The notification, submitted to the judge by prosecutors and the defense and now part of the digital case file, states that Maduro and Flores were visited by “an official representing the Republic of Venezuela to help facilitate any services the accused needed.”
The document also notes that U.S. District Judge Alvin Hellerstein ordered the U.S. prosecutor’s office at the couple’s first court appearance on January 5 to ensure they had access to consular services and to inform the court when such access was provided.
Their next hearing was postponed by the court from an original date of March 17 to March 26 at 11:00 a.m., after prosecutors, with the consent of the defense, requested extra time to gather evidence, allow the defense to review it, and determine which pretrial motions they will file, the filing says.
Maduro has denied wrongdoing, calling himself “innocent” of the narcotics charges authorities have brought in federal court.
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