SAN FRANCISCO • A jury Friday decided Elon Musk didn’t deceive investors with his 2018 tweets about electric automaker Tesla in a proposed deal that quickly unraveled and raised questions about whether the billionaire had misled investors.

The verdict by the nine jurors was reached after less that two hours of deliberation after a three-week trial. It represents a major vindication for Musk, who spent about eight hours on the witness stand defending his motives for the August 2018 tweets at the center of the trial.

Musk, 51, wasn’t on hand for the brief reading of the verdict, after making a surprise appearance earlier Friday for closing arguments that drew starkly different portraits of him.

Alex Spiro, Musk’s attorney, declined to comment as he walked out of the courtroom following the verdicts.

The trial pitted Tesla investors represented in a class-action lawsuit against Musk, who is CEO of the electric automaker and the Twitter service he bought for $44 billion a few months ago.

Shortly before boarding his private jet on Aug. 7, 2018, Musk tweeted that he had the financing to take Tesla private, even though it turned out he hadn’t gotten an iron-clad commitment for a deal that would have cost $20 billion to $70 billion to pull off.

Musk’s integrity was at stake at the trial as well part of a fortune that has established him as one of the world’s richest people. He could have been saddled with a bill for billions of dollars in damages had the jury found him liable for the 2018 tweets that had already been deemed falsehoods by the judge presiding over the trial.

Earlier Friday, Musk sat stoically in court during the trial’s closing arguments while he was vilified as a rich narcissist whose reckless behavior

risks “anarchy” and hailed as a visionary looking out for the “little guy.”

The trial hinged on whether Musk’s tweeting in 2018 misled Tesla shareholders, steering them in a direction that they argue cost them billions of dollars. The civil case centered on two tweets Musk posted Aug. 7, 2018, about a Tesla buyout that never happened.

The first tweet Musk declared he had “funding secured” to take Tesla private. A few hours later, Musk sent another tweet indicating that the deal was imminent.

The tweets caused Twitter’s stock to surge during a 10-day period covered by the lawsuit before falling back after Musk abandoned a deal in which he never had a firm financing commitment, based on evidence presented during the trial.

Nicholas Porritt, a lawyer for the Tesla shareholders, urged the jurors to rebuke Musk for his “loose relationship with the truth.”

“Our society is based on rules,” Porritt said. “We need rules to save us from anarchy. Rules should apply to Elon Musk like everyone else.”

Alex Spiro, Musk’s attorney, conceded the 2018 tweets were “technically inaccurate.” But he told the jurors, “Just because it’s a bad tweet doesn’t make it a fraud.”