Elon Musk unexpectedly appeared virtually at Saudi Arabia's Future Investment Initiative, indicating a potential reconciliation with the kingdom after a previous fallout during his attempt to take Tesla Inc. private.

Musk was recently cleared by a jury of allegations that he defrauded investors with his claims of having "funding secured" for the deal. The billionaire's relationship with the Saudi wealth fund had been strained, but his participation in the event suggests a change in dynamics.

Musk's previous efforts to privatize Tesla had faced scrutiny and legal challenges, but the recent jury verdict has allowed him to move forward without the shadow of those claims.