Musk says his SpaceX shares could have also helped fund taking Tesla private

13 Sept 12:15 Key points summarised by AI

Elon Musk testified he was confident in 2018 about securing funding to take Tesla private, asserting he could have leveraged his SpaceX shares for the buyout.
Musk claimed Saudi Arabia's sovereign wealth fund initially committed to the deal but later 'backpedaled,' contradicting his earlier understanding.
Plaintiff lawyers challenged Musk's testimony, questioning the validity of the SpaceX funding plan and the lack of written evidence supporting the Saudi commitment.
The trial addresses claims that Musk's 'funding secured' tweet defrauded investors, causing Tesla's stock to surge then fall, resulting in millions in losses.
A U.S. judge previously deemed Musk's 2018 tweet 'untruthful and reckless,' leading to SEC settlements and mandates for his tweets to be screened.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Today 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.