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Judge finds evidence that Tesla, Musk knew about Autopilot defect (www.reuters.com)
submitted 2 years ago by to c/technology@lemmy.world
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A Florida judge found "reasonable evidence" that Tesla Chief Executive Elon Musk and other managers knew the automaker's vehicles had a defective Autopilot system but still allowed the cars to be driven unsafely, according to a ruling.

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[–] 26 points 2 years ago (2 children)

He didn't sell the Tesla stock. He used it as collateral to borrow the money. Rich people rarely sell their things while they are alive. They borrow against their fortune because if they sell, they have to pay capital gains taxes.

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  • [–] 1 point 2 years ago

    He did sell the stock, like $23 billion worth. He entered the agreement to buy Twitter to show that he had another use for that cash, so that Tesla investors didn't get spooked and sell off when they see the biggest shareholder selling (along with the downward price pressure that comes from selling a significant percentage of a company's stock).

    There was some speculation at the time that he entered the agreement with Twitter with no intention to close, just to cover his desire to cash out of Tesla at its high. Then the courts actually held him to that.

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