Billionaire Elon Musk Swears He Has No Financial Liquidity After Being Sued For Defamation

The CEO of Tesla Motors and SpaceX, Elon Musk, one of the richest men in the world, has sworn before a court that has no financial liquidity, Bloomberg reports citing court documents.

Musk is sued for defamation and slander by British diver Vernon Unsworth, who last year participated in the rescue operation of a group of children trapped in a cave in Thailand. Unsworth demands that the magnate be compensated for $ 75,000, but in a sworn testimony made before a court in Los Angeles (California, USA), the co-founder of Tesla said he is "financially illiquid."

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On the last Forbes list of the richest people in the world, Musk is ranked 40, with a heritage valued at $ 22.3 billion. But according to Bloomberg, the tycoon is "relatively poor in cash," since much of his fortune comes from the actions of SpaceX and Tesla, and he has already said he has no plans to sell those titles.

Musk's defense has notified the AIG insurance company, which provides coverage to the magnate, about the legal dispute, and that company has reserved the rights to challenge the lawsuit.

Background

The dispute broke out in July 2018, after Unsworth rejected a mini-submarine proposed by the businessman to save Thai children trapped in a cave when considering that its implication was unfeasible.

The diver said that Musk "had no idea" of the circumstances in which the rescue operation was carried out and described the proposal for a publicity stunt, adding that the magnate could "put his submarine where it fits." These words do not seem to fit Musk at all, who replied by lashing out at the British calling him "pedophile boy" and "child rapist."

The trial is scheduled for next December in Los Angeles.

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