The Tesla chief executive officer (CEO) and SpaceX chief Elon Musk defended the electric car maker's controversial 2016 acquisition of SolarCity at the start of a trial on whether the billionaire put his own interests ahead of investors on July 12.
Elon told the Chancery Court in Wilmington that the Tesla board handled the SolarCity deal and he was not part of the board committee that negotiated the terms.
Elon responded the cross-examination from shareholder legal practitioner Randall Baron quite calmly.
Randall Baron's questions often evoke lengthy and flexuous responses. Elon also called Baron "a bad human being." He asked if the board examined Elon’s Technoking title.
Elon said, "It generated a whole bunch of free press and Tesla doesn't advertise and it's helpful to general sales," and titled it a joke stating, "I think I'm funny."
Elon further added that if they are entertaining people, then people would write stories about them and they don’t have to spend on advertising which reduces the price of their cars.
And he also said, "I do have a sense of humor." He also revealed that he turned down Wall Street jobs to focus on technology.
Some who watched his May 8 turn as host of “Saturday Night Live" may disagree as he got mixed reviews for the gig. The lawyer who represented shareholders claimed that the Tesla CEO breached his fiduciary duty by pushing more than USD 2 billion deal for SolarCity in which he was the largest investor.