Facing defamation, Musk says he is short on cash, despite $20-bn net worth

Topics Elon Musk | Tesla

Tesla CEO apologised to the cave diver in the court.

Multi-billionaire tech mogul Elon Musk in the second day of his courtroom appearance as a defendant in a defamation case filed by Vernon Unsworth, a British man, over "pedo guy" tweet, disclosed that his net worth was $20 billion (roughly Rs 1,43,000 crore) but was short on cash.

"People think I have a lot of cash, I actually don't. I have stock in SpaceX and Tesla, and debt against that," he said during the trial, Forbes.com reported on Wednesday.

During the first courtroom appearance on Tuesday, Musk had said the "pedo guy" tweet was not meant to be taken literally. He filed a declaration that "pedo guy" was a common insult in South Africa about demeanour and appearances.

"It's quite common in the English-speaking world. Calling someone a 'pedo guy' means creepy. If you did a search or asked someone what it means it would be a creepy," he said.

Tesla CEO apologised to the cave diver in the court.

Lawyers for Unsworth argued that Musk was using his social media platform to damage the explorer's reputation and paint him as a paedophile.

Last year, he called Unsworth a "child rapist" in an email. Unsworth sued him two months later in a Los Angeles federal court, saying Musk falsely branded him a paedophile and child rapist.


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel