Elon Musk says legal pressure forced him to complete $44bn Twitter deal in 2022

Elon Musk told a US jury that legal pressure forced him to complete his $44 billion takeover of Twitter in 2022, saying his lawyers warned him was unlikely to win a court battle against the social media company.

Testifying in a federal court in San Francisco, the billionaire said his legal advisers believed the Delaware judge overseeing Twitter’s lawsuit to compel the deal was “extremely biased” against him, Bloomberg reported.

According to Musk, the legal team concluded there was little chance of defeating the case in the Delaware Court of Chancery, which had been preparing to hear Twitter’s lawsuit demanding that he honour the original acquisition agreement.

“The lawyers said there was no choice,” Musk told jurors, explaining why he ultimately agreed to close the deal after months of dispute.

Investors accuse Musk of manipulating share price

The testimony came during a trial examining claims from Twitter investors that Musk misled markets during the turbulent takeover process.

Shareholders allege Musk manipulated the company’s stock price through public statements and social media posts, enabling him to negotiate a better position during the acquisition negotiations.

According to Bloomberg, the investors argue Musk’s comments — including posts suggesting the deal was temporarily “on hold” — influenced trading behaviour and caused financial losses for some shareholders.

One investor, Brian Belgrave, told the court he sold thousands of Twitter shares in July 2022 after concluding Musk would abandon the takeover. Belgrave later watched Musk complete the acquisition at $54.20 per share, a price significantly higher than the amount he had received when selling his holdings.

“I got cheated,” Belgrave said in testimony cited by Bloomberg.

Musk defends tweets during takeover saga

On the witness stand, Musk downplayed the market impact of his posts during the takeover negotiations.

The Tesla and SpaceX chief said his comments about Twitter were simply personal opinions expressed publicly, not an attempt to influence investors.

“People tend to read too much into things that I do,” Musk told the court, according to reports from the BBC and Bloomberg.

He added that his posts were often spontaneous reflections of his thinking at the time. “What I think privately is what I say publicly — there’s no difference,” he said.

At one point during the proceedings, Musk acknowledged his controversial online presence, telling the court: “If this was a trial on whether I’ve made stupid tweets, I’d say I’m guilty.”

Legal battle that reshaped the deal

The case centres on the dramatic months leading up to Musk’s acquisition of Twitter, now known as X.

After agreeing in April 2022 to buy the company for $44 billion, Musk attempted to terminate the deal months later, citing concerns about fake accounts and spam on the platform.

Twitter sued in Delaware to force him to honour the agreement, launching an expedited legal battle that threatened to drag the world’s richest person into a high-stakes trial.

Musk eventually reversed course and completed the takeover in October 2022.

According to Bloomberg, Musk told jurors that several pre-trial rulings by Delaware Chancery Court chief judge Kathaleen St. J. McCormick favoured Twitter, reinforcing his lawyers’ belief that the case would likely fail.

A representative for the Delaware court did not immediately respond to requests for comment about Musk’s criticism, Bloomberg reported.

Musk’s wider disputes with Delaware courts

Musk has previously clashed with Delaware’s corporate courts, which handle many disputes involving US public companies.

In a separate legal fight, Judge McCormick ruled against Musk by invalidating his record-setting Tesla compensation package, though the Delaware Supreme Court later reinstated the pay arrangement in December, according to Bloomberg.

Following that ruling, Musk moved Tesla’s incorporation from Delaware to Texas — a shift that prompted debate about the state’s long-standing dominance as the legal home for US corporations.

Trial set to test Musk’s market influence

The trial, which began earlier this week, is expected to last about three weeks.

At its centre is a key question: whether Musk’s public statements during the takeover saga constituted market manipulation or simply reflected his personal views.

The outcome could have broader implications for how corporate leaders communicate with investors in an era where social media posts can move markets within minutes.

For Musk, whose online presence has repeatedly drawn legal scrutiny, the proceedings represent another test of the fine line between personal expression and corporate accountability.