“There Were a Lot of Threats,’ Musk Testifies on Twitter Deal
Elon Musk, left, arrives for a Twitter shareholder trial at the US District Court for the Northern District of California, on Wednesday, March 4, 2026, in San Francisco. (AP Photo/Godofredo A. V?squez)
A defiant Elon Musk testified Wednesday in a jury trial, pushing back against claims that he engaged in deceptive behavior that misled investors while trying to back out of his $44 billion agreement to buy Twitter before ultimately completing the purchase.
The civil trial in San Francisco focuses on a class-action lawsuit filed shortly before Musk took control of the social media company—later renamed X—in October 2022. Musk had agreed six months earlier to buy the struggling platform for $44 billion, or $54.20 per share. The price represented only a small portion of Musk’s personal fortune, which is now estimated at about $841 billion.
The lawsuit was filed by Twitter shareholders who sold their stock between May 13 and October 4, 2022. They allege Musk violated federal securities laws by taking calculated actions that drove down the company’s stock price as he attempted either to abandon the deal or force a lower purchase price.
Musk has argued that the deal should have been renegotiated—or even terminated—because Twitter’s board allegedly misled him about the number of fake or “bot” accounts on the platform. He repeated that claim during his testimony Wednesday.
When asked whether he had threatened to “hunt down” members of Twitter’s board unless they returned to negotiations over a lower sale price, Musk did not deny the possibility, noting the tense relationship between both sides during the dispute.
“There were a lot of threats going back and forth from both sides,” Musk testified. “I was pretty upset with the Twitter board because I felt they had engaged in fraud.”
Musk also argued that completing the acquisition at the original price ultimately benefited many shareholders. However, during the months when the deal was uncertain, Twitter’s stock fell below $33 per share—about 40% lower than Musk’s initial offer. According to the lawsuit, that decline caused losses for investors who sold their shares during that period of uncertainty.
“I can’t control whether people sell their stock,” Musk said in court. “But everyone who held the stock fared extremely well.”
Musk is expected to return to the stand Thursday as the trial continues.
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