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
US announces $1 billion security assistance package for Colombia under new government
The U.S. Department of State announced Friday that Washington plans to provide Colombia with $1 billion as part of a security assistance package aimed at supporting the new government of far-right President Abelardo de la Espriella.
The administration of U.S. President Donald Trump said it intends to coordinate with Congress to announce the assistance package, which was unveiled on the occasion of De la Espriella’s inauguration. The United States attended the ceremony with a delegation led by acting Attorney General Todd Blanche.
The package is designed to strengthen Colombian security forces in their fight against terrorist organizations and transnational criminal groups through U.S. technology, increased operational capabilities and coordinated operations with American forces.
The assistance would also significantly expand coca crop eradication and cocaine interdiction operations, while strengthening efforts to track and disrupt the finances of criminal organizations.
Washington also offered to support Bogotá’s efforts to restore state control over territories dominated by armed groups, protect children from forced recruitment and curb irregular migration through greater coordination along the border.
The State Department described the measures as part of a new chapter in bilateral relations between the United States and Colombia. The broader framework also includes cooperation in areas such as energy, critical minerals, infrastructure, technology and civilian nuclear energy.
Relations between Washington and Bogotá had been strained during the administration of former President Gustavo Petro, particularly over migration and security policies.
De la Espriella’s arrival in office, accompanied by promises of a hard-line approach to armed groups and drug trafficking, is expected to mark a new stage in relations between Colombia and the United States.
International
Abelardo de la Espriella sworn in as Colombia’s president for 2026-2030
Lawyer Abelardo de la Espriella was sworn in Friday as Colombia’s president for the 2026-2030 term during an inauguration ceremony held at the USC Arena of the Santiago de Cali University in Valle del Cauca.
“I swear to God and promise the Colombian people to faithfully uphold the Constitution and the laws of Colombia,” De la Espriella, 48, said as he took the oath before Senate President Honorio Henríquez, who subsequently placed the presidential sash on him, formally marking the transfer of power from former President Gustavo Petro.
At the same time, members of the Colombian Army performed the traditional 21-gun salute from the José María Córdova Military Cadet School in Bogotá. After receiving the presidential sash, De la Espriella was applauded by those attending the ceremony and greeted by his family.
The new president later swore in Vice President José Manuel Restrepo. The ceremony also included the participation of 74-year-old farmer Luis Felipe Yagüé, whom De la Espriella invited as an honorary guest as a symbol of his support for small business owners and entrepreneurs.
De la Espriella arrived at the venue with his wife, Ana Lucía Pineda, and their four minor children. More than 1,000 national and international guests attended the ceremony, which began more than an hour later than scheduled.
Among the international figures present were King Felipe VI of Spain and presidents Javier Milei of Argentina, Daniel Noboa of Ecuador, Santiago Peña of Paraguay, José Raúl Mulino of Panama, Luis Abinader of the Dominican Republic, José Antonio Kast of Chile and Nasry Asfura of Honduras. FIFA President Gianni Infantino also attended.
Former Colombian presidents César Gaviria, Andrés Pastrana, Álvaro Uribe and Iván Duque were also present. Former President Ernesto Samper and Nobel Peace Prize laureate Juan Manuel Santos, however, were not invited to the ceremony.
After the inauguration ceremony concluded, De la Espriella traveled to the Pichincha Military Canton in Cali, where he was scheduled to deliver his first address as head of state to Colombia’s senior military commanders.
International
Appeals Court blocks Trump’s White House ballroom project without congressional approval
A U.S. appeals court ruled Friday that President Donald Trump must obtain approval from Congress before moving forward with his plan to build a large ballroom on the White House grounds, at the site where the East Wing of the presidential residence previously stood.
The decision was issued in a 2-1 ruling, with the judges determining that a project of such magnitude falls under Congress’ authority and cannot be carried out solely through executive action.
In its ruling, the court sided with the National Trust for Historic Preservation, the organization that filed the lawsuit seeking to halt the construction. The judges found that the plaintiffs had convincingly demonstrated that Congress had never granted the executive branch the authority to “redesign or rebuild the White House, the People’s House, to satisfy the wishes of any particular president.”
Following the decision, Trump announced that he would appeal the ruling to the U.S. Supreme Court, calling the decision incorrect.
“We will immediately appeal it to the Supreme Court,” the president wrote in a message posted on his social media platforms.
Trump also argued that the ruling could pose a security risk to the presidential complex, claiming that it threatens the safety of White House employees, future workers, visitors, heads of state, and other dignitaries.
The president has repeatedly said that the project would not require taxpayer funding and that its financing would come from private donations by business leaders close to his administration, including Amazon founder Jeff Bezos.
However, a previous estimate published by The Washington Post placed the project’s cost at approximately $600 million and suggested that nearly half of the funding could come from public resources, contradicting Trump’s claims.
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