Elon Musk Testifies That He’s Financially Illiquid (!) In British Driver Lawsuit

Elon Musk has testified that he is “financially illiquid” in a legal filing related to the ongoing defamation lawsuit involving the outspoken executive and British diver Vernon Unsworth.

According to a report from Bloomberg, a filing from Unsworth’s attorney refers to “Musk’s sworn testimony that he is financially illiquid.” What this means is that he is cash poor because most of his wealth is tied up in the value of his companies.

Although Musk is reportedly valued at $23.6 billion, he gets most of his wealth from the $14.6 billion worth of stock he owns in SpaceX and his $8.8 billion Tesla stock. Bloomberg goes on to report that insurance giant American International Group (AIG) could be dragged into the defamation case.

Also Read: Elon Musk Says “I’m A F***ing Idiot” For ‘Pedo-Guy’ Comments

“Given Musk’s sworn testimony that he is financially illiquid, Mr. Unsworth is entitled to know whether AIG has accepted coverage of the claims, denied coverage of the claims, or has reserved its rights to contest coverage of the claims,” Unsworth’s attorney wrote.

Unsworth is suing Musk for defamation after the Tesla chief executive called him a “pedo guy”, said he was a child rapist and accusing him of marrying a 12-year-old girl from Thailand.

“[These are] false, heinous accusations by Elon Musk, a thin-skinned billionaire who is obsessed with his public image and who has a history of vindictively and intentionally ignoring truth to maintain that PR-created image,” the filing states.

Unsworth is seeking $75,000 from Musk and unspecified punitive damages for defamation. The case is scheduled to go to trial on December 3 in Los Angeles.

  • Ben

    And I care about his personal finances why?

    • Paulbe

      Much of this story comes down to respect. I wonder what Musk name-calls his dissatisfied owners?

      • Ben

        I agree he should have kept his mouth shut. I’m not debating that. I’m just saying why is it news worthy about a billionaire having most of his network tied up in his businesses. We already know the story of how he personally funded his projects when they weren’t performing as they should have. There is no shame supporting your business with your personal savings when needed.

  • scjeff

    Now some “British Driver” is suing him too?

    • Mr. EP9

      Nah, they messed up in the article.

  • Six_Tymes

    Unsworth is a leach. With this latest drama rama, attacking Elon, it makes me wonder how old his bride was when married. Does he live in Thailand? This guy is clearly not a good person.

    • Paulbe

      Stick to Twitter, Elon.

    • Joff

      And if he was an American it would be 75 million he would asking for. Jog on pal

    • Matt

      Unless you have some information others don’t, I wouldn’t be calling Unsworth a ‘leech’. After all, he never asked to be called a pedo in front of millions of people.

    • benT

      Thailand has more pedo guys that straight white westerners these days.
      Not easy to find most of them because they live in the villages.

      • db

        And you know this how?

  • Mr. EP9

    Elon is trying everything he can to get out of this lawsuit, isn’t he? Elon has no one but himself to blame for this situation.

  • Reformed Alchemist

    He spent all his cash on hairplugs…..

  • Callanish

    Even if you’re Musk illiquid poor, you’re telling me someone that’s worth 23.6 billion still can’t come up with $75000 to make this all go away. Musk is as guilty as sin on this one. Why drag it out.

  • benT

    Nothing unusual here.

  • Astonman

    He’s paid more for lawyer fees already. This is a case of cutting your nose to spite your own face.

  • sidewaysspin

    Taxes are for us plebs. Millionaires and billionaires somehow are always illiquid.

  • Super Rob

    As soon as the guy said $75k you would figure this would be over. Not worth fighting over that amount in Elon’s world.

  • Stephen G

    How can the British government be so callous in releasing the kind of information that could affect Tesla’s stock price. There should be some fines levied.

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