The legal proceedings stem from Musk’s 2022 purchase of the social media platform and involve scrutiny over whether he violated federal securities laws during USD 44 billion acquisition of Twitter
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The original controversy began in August 2018 when Musk tweeted, "Am considering taking Tesla private at $420. Funding secured”
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Musk's X post highlights the critical importance of this investment for Tesla's competitiveness in the automotive industry
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Responding to the court's order, Musk criticised the Australian government, suggesting that the directive to remove the content was an act of censorship and an overreach of its authority
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Originally, xAI aimed to raise USD 3 billion at a USD 15 billion valuation, but due to overwhelming demand from potential investors, these numbers were quickly revised upwards
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