Tesla CEO Elon Musk shocked the markets on Tuesday with a series of tweets outlining the mercurial entrepreneur’s desire to take the company private.
In a tweet from Tuesday, Musk wrote that he was “considering taking Tesla private at $420” per share and that the funding was “secured.” It’s a move that Musk discussed last week with some of Tesla’s board members, and those discussions reportedly addressed “the funding for this to occur” and “how being private could better serve Tesla’s long-term interests.”
Investor support is confirmed. Only reason why this is not certain is that it’s contingent on a shareholder vote. https://t.co/bIH4Td5fED
— Elon Musk (@elonmusk) August 7, 2018