A billionaire who was reportedly caught with a billion dollars in cash and cash equivalents during a luxury cruise ship excursion has been caught with $8 million in cash, the Los Angeles Times reported.
Elon Musk has been accused of pocketing the $1.1 million cash, which was reported to be hidden in a black bag on board the vessel.
Musk was seen wearing a suit, a $50,000 diamond necklace and a Rolex watch while boarding the cruise ship.
He also had a $4,500 Rolex wristwatch in his pocket, the Times reported, citing sources.
In a statement, Musk said he would not comment on the report and had not received the money.
“While I am not in a position to discuss personal matters, I am glad to have this opportunity to clarify a rumor that was reported in the press,” he said.
The cruise ship had just completed a trip to Africa and was heading back to the U.S. to complete the $2.4 billion deal with Disney, the newspaper said.
Musk is the founder and chief executive officer of electric car maker Tesla Motors and is currently in negotiations with Disney to make a film based on his books.
But Musk has long been linked to a multimillion-dollar cocaine bust.
In the early 2000s, he pleaded guilty to cocaine possession and received a three-year sentence.
He was released from prison in 2009 and went on to co-found SolarCity, which has made solar panels.