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Tesla’s Elon Musk shares new insights on “funding secured” tweet as messages with Saudi PIF are revealed
Elon Musk recently shared some insights about his infamous 2018 “funding secured” tweet, which he posted when he announced his intentions to take Tesla private. The Tesla CEO’s recent comments came as text messages between Musk and the Saudi Arabia Public Investment Fund Head were shared online.
The text messages between Musk and the Saudi PIF Head Yasir Al-Rumayyan were revealed as part of a 300-page motion filed late last week by Alex Spiro, the Tesla CEO’s lead attorney. The messages were part of Musk’s deposition with the US Securities and Exchange Commission, which accused the CEO of securities fraud.
In August 2018, Musk announced on Twitter that he was looking to take Tesla private at $420 per share (pre-split) and that he had funding secured. A blog post published soon after explained that Musk’s reference to funding being secured came from previous talks with the Saudi PIF. Musk eventually walked away from the take-private deal, despite Tesla’s financial advisers coming up with a possible list of investors which included Silver Lake and Volkswagen AG.
A look at Musk’s texts to the Saudi PIF Head showed that the CEO was extremely adamant about the sovereign fund confirming that it had shown interest in helping Tesla become a private company. The initial messages shared by Musk’s attorney were calm enough, with the Saudi PIF head confirming that any Tesla venture in Saudi will be 100% owned by the EV maker with no strings attached.
The next messages, which seemed to follow a report which alleged that the Saudi PIF had no interest in helping Tesla go private, were more aggressive.
During his appearance at TED 2022, Musk noted that he has an obsession with the truth. This is something that was extremely evident in his texts with the Saudi PIF Head. Musk confronted Al-Rumayyan about the report, noting that “This is false.” The Saudi PIF Head confirmed Musk’s statement, noting that the report was “Not true” and that “Nobody talked to them (the media).” The Saudi PIF eventually issued a statement, but Musk was not happy with its content and tone.
“This is an extremely weak statement and does not reflect the conversation we had at Tesla,” Musk sternly wrote, also adding later on that the Saudi PIF was “throwing me under the bus.”
Al-Rumayyan’s attempts at placating the Tesla CEO were evident in later messages, with the PIF Head assuring Musk that he was a friend and thus must not be treated like an enemy. “The last thing I want to do is ‘throw you under the bus.’ I am your friend. So, please don’t treat me like an enemy,” the PIF Head wrote to Musk.
Despite the back and forth, however, Musk remained aggravated about the situation. Even after Al-Rumayyan shared another article, Musk noted that the piece was “weak sauce and makes me sound like a liar.” Musk then noted that “There will be no further communication unless you fix the public perception of wishy washy support and interest from the PIF.” Al-Rumayyan’s last messages to Musk shared in Spiro’s filing stated that the Saudi PIF would be working on a statement, a move that the Tesla CEO stated meant “a great deal.”
In recent Twitter posts, Musk shared some more insights on his “funding secured” tweet. According to Musk, and just as the CEO stated in his text messages from 2018, “the head of Saudi PIF committed unequivocally to take Tesla private with me, as witnessed by the Tesla CFO and several others. That is why I said funding was secured.” Musk also posted some fresh criticism of the SEC’s San Fransisco Office, which he described as “puppets” of Wall Street short seller sharks.
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Elon Musk
Elon Musk’s surprise addition to the X Takeover lineup has fans talking
Elon Musk will join Saturday’s X Takeover at Giga Texas for a live virtual interview.
Elon Musk will join X Takeover at Giga Texas on Saturday for a live virtual interview, according to Sawyer Merritt, who shared the news late Thursday. Musk will not be on stage in Austin. The conversation is set to stream for free on the @teslaownersSV account on X.
Organizers had kept expectations in check. In a September update, Tesla Owners Silicon Valley said Musk had appeared at the event twice before but was not promising a third appearance, even as fans hoped he would walk the Giga Texas grounds in person. A virtual spot matches 2024, when Musk gave a surprise interview of about an hour to the crowd in San Luis Obispo, as Teslarati reported at the time.
Wasn’t expecting this 🫡
— Tesla Owners Silicon Valley (@teslaownersSV) October 9, 2026
This year’s edition is a first in several ways. It is the first X Takeover held outside California and the first at a Tesla facility, with tickets selling out in eight days. Tesla provides the venue, but the event is produced independently by Tesla Owners Silicon Valley. The main event runs from 10 a.m. to 6 p.m. CT, followed by a drone and light show at 9 p.m. Maye Musk is the keynote speaker, Franz von Holzhausen is set for a virtual keynote, and Nicki Minaj is the special guest. Joe Tegtmeyer, whose drone footage Teslarati used to track the Optimus factory steel frame at Giga Texas, is also on the speaker list.
Musk’s interview topics have not been revealed, but the backdrop is busy. Tesla doubled its Cybercab fleet in Austin in late September, and last week Musk explained why Robotaxi hours only moved from 10 p.m. to 11 p.m.. Merritt also reported Thursday that Texas DMV records now show 319 registered Cybercabs, up from 169. NHTSA’s deadline for Tesla’s sworn answers on Cybercab certification is October 30, and Tesla reports third quarter earnings on October 21.
Fans who cannot make it to Austin can watch the livestream on X. Musk tends to say more in unscripted settings than he does in prepared remarks, which is the reason this one is worth having open on Saturday.
News
It’s official: SpaceX takes aim at Verizon, AT&T, and T-Mobile
SpaceX is buying 800 MHz spectrum from Grain to turn Starlink Mobile into a carrier.
SpaceX has agreed to buy a nationwide block of low band wireless spectrum, a deal the company says will let Starlink Mobile operate as a full US carrier rather than a satellite add-on for someone else’s network.
The company announced the agreement on X on Thursday afternoon, saying it will “pave the way for @Starlink to become a major mobile carrier in the US.” The seller is Grain Management, a private investment firm that confirmed in a statement that SpaceX will acquire 100% of its nationwide 800 MHz portfolio. That covers up to 14 MHz of paired spectrum in the 817 to 824 MHz and 862 to 869 MHz bands. Neither side disclosed a price, and the deal still needs FCC approval.
We announced an agreement to acquire a nationwide low-band spectrum license portfolio that will pave the way for @Starlink to become a major mobile carrier in the US.
With this new spectrum and our Gen2 constellation, Starlink Mobile can ensure Americans have access to high-speed mobile broadband no matter where they are → https://t.co/1Uaf48v5pm
— SpaceX (@SpaceX) October 8, 2026
Grain only recently picked up the licenses itself. It bought the portfolio from T-Mobile in a transaction that closed in August, paying cash plus its own 600 MHz spectrum. Rival AST SpaceMobile had been testing satellites on the same bands before SpaceX stepped in.
SpaceX said its 2 GHz spectrum will handle high bandwidth capacity, while the new 800 MHz layer “ensures Starlink Mobile’s signal penetrates through obstacles, such as walls, and can provide service to customers’ devices even when they are in buildings.” The company added that most existing phones already support the band, so customers would not need new hardware to use it.
That 2 GHz spectrum came from SpaceX’s EchoStar acquisition last year, which gave the company exclusive S band rights in the US and global Mobile Satellite Service licenses. The Grain spectrum is different in an important way: it is tailored for service from ground towers, not satellites. SpaceX said that combination would make Starlink Mobile “the first network operator to deploy both satellite and terrestrial spectrum.”
The announcement also follows a key regulatory win. Earlier this week, the FCC approved SpaceX’s plan to deploy 15,000 second generation Starlink Mobile satellites, which the company has said will carry up to 100 times the data density of the current system, as Teslarati previously reported.
Shares of AT&T, Verizon and T-Mobile fell in extended trading after the announcement. T-Mobile is currently SpaceX’s launch partner for Starlink Mobile in the US, which makes its position the most complicated of the three.
SpaceX has not been subtle about its plans. During the company’s August earnings call, President and COO Gwynne Shotwell said she expected Starlink Mobile to win over customers from the major carriers. “I anticipate us to be able to acquire quite a few of their customers because I think our service will be better,” she said, pointing to dead zone coverage and resilience during disasters. Shotwell also described plans for low cost cellular base stations that could pair with existing Starlink dishes.
SpaceX has targeted 2027 for deployment of its next generation Starlink Mobile satellites, with upgraded service expected by the end of that year. The FCC review of the Grain deal now determines when the terrestrial half of that network can come online.
Elon Musk
Trump presents Elon Musk with National Medal of Science, calls him “modern-day Thomas Edison”
Trump gave Elon Musk the National Medal of Science and compared him to Thomas Edison.
Elon Musk now has the highest honor the U.S. government gives to scientists and engineers. President Donald Trump presented him with the National Medal of Science on Thursday at the White House’s “Science: A New Golden Age” summit, held at the Institute of Peace in Washington, according to the White House.
Trump called Musk a “national treasure” and “our modern-day Thomas Edison.” “Few Americans in history have done more to advance America’s national interest than Elon in one field after another,” the president said. He also described Musk as an “industrial titan, brilliant engineer and one of the greatest technology founders to ever live.”
The official citation credits Musk “for engineering achievements of extraordinary ambition and scale that have pushed the frontiers of space exploration, intelligent systems, communications, and beyond, renewing American technological leadership and opening a new chapter in American manufacturing.” Tesla is not named in it, but “intelligent systems” and “American manufacturing” cover a lot of ground that Tesla and the Terafab chip project occupy.
Google co-founder Sergey Brin, Nvidia CEO Jensen Huang and AMD CEO Lisa Su received the same medal. Microsoft CEO Satya Nadella and Dell Technologies CEO Michael Dell were given the National Medal of Technology and Innovation. It was the first time Trump has handed out either award in his two terms. As Teslarati noted when the list was first reported on Wednesday, the National Science Foundation says 529 people have received the Medal of Science since Congress created it in 1959.
🚨 IT’S OFFICIAL: President Trump just PERSONALLY presented Elon Musk the National Medal of Science for his INCREDIBLE contributions to our nation
I can’t think of ANYONE who deserves this honor more 👏🏻
Congratulations, @elonmusk! https://t.co/GkAaVp9wb9
— Nick Sortor (@nicksortor) October 8, 2026
The ceremony closes a loop that opened in 2025, when Musk left DOGE and criticized the “Big Beautiful Bill,” sparking a public feud. Al Jazeera noted that Musk was the largest contributor to Trump’s 2024 campaign, and CNBC reported that all of the honorees have given financially to Trump or Republican causes in some form. The reconciliation has moved quickly in recent weeks. Musk sat at Trump’s left at the September 29 White House AI lunch, was named to help lead the Pentagon’s Project Meridian study on the future of warfare, and adopted the administration’s “super intelligence” wording when he said SpaceXAI will become SpaceXSI.
For Tesla and SpaceX shareholders, the practical question is what the closer relationship means for federal approvals. Tesla’s Robotaxi and Cybercab expansion depends on national autonomy rules, and SpaceX’s Starship and Starlink plans run through the FAA, FCC and NASA. Thursday’s ceremony did not change any of that directly.