Elon Musk calls Fortune's report on Tesla's latest stock sale 'BS' in Twitter tirade

Photo: Justin Sullivan/Getty Images.

Elon Musk is going off on Fortune. 

In two tweets fired out Tuesday morning, Musk called a report from Fortune’s Carol Loomis published Tuesday “BS.”

Loomis’ report questioned whether Tesla withheld material information from shareholders after the company learned a driver using autopilot in the company’s Model S sedan had died in an accident on May 7. 

Loomis notes that the company sold over $2 billion of stock on May 18  —  a sale that was executed before investors had learned about the autopilot death. 

Tesla had long-telegraphed this sale of stock, saying on its first quarter earnings call it would need to raise cash to fund a ramp-up in vehicle production. 

News of the crash became public last week, when the National Highway Traffic Safety Administration said it was looking into possible connections between Tesla’s Autopilot system and fatal crashes.

Musk’s tweets were directed at Alan Murray, Fortune’s editor.


In an email on Monday, Musk told Fortune that disclosing this death, “is not material to the value of Tesla.” Musk noted in that same exchanged that over 1 million people die in car accidents each year and that half of these deaths could be prevented if Tesla’s autopilot features were universally available.”

Musk’s kicker implored Loomis to, “do the bloody maths before you write an article that misleads the public.”

NOW WATCH: A Navy SEAL explains why he’ll never go skydiving as a civilian again

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.