Elon Musk Considering Taking Tesla Private

Elon Musk announced on Tuesday that he is considering taking the company private, as he loathes having to constantly answer to investors.

In fact, Elon Musk even tweeted that he had secured funding to make it go private “at $420.” Although nothing has been confirmed, investors are still shaking at the thought of Tesla not being publicly traded anymore. Musk explained to employees,

If he follows through with the plan, shareholders will be bought out for $420 a share, which is significantly higher than its current valuation of roughly $379. In fact, Tesla’s stock has risen 11 percent since the announcement.

Additionally, this news came after a report that the Saudi Arabian Public Investment Fund had acquired a stake in Tesla. Musk notes that Dell pursued a similar strategy and went private after facing pressure from investors.

Musk has been known to make heavy claims, so it will be interesting to see if he follows up with this. It could certainly change the trajectory of the company — whether that’s good or bad, the public will just have to find out.

Featured image via Flickr/Jakob Harter

Related posts:

Here at Cleaning Leads Pro, we are offering double verified leads for a wide range of cleaning services, starting with carpet cleaning, roof, air duct, to gutter sanitation. Generating cleaning leads…

I want to get a family photo session with you but I cant afford your rates. Will you give me a discount? How many times have we heard the “I cant afford you” as a reply after telling a potential…

Wasabi Pea Salad. I had a hearty meal with my dad last night. We went to Cafe Murano in Covent Garden, an Italian restaurant with a date-night atmosphere….