Elon Musk has funding to take Tesla Private at $420 per share

Elon Musk has tweeted that he has the funding to take Tesla private at $420 per share.

A shareholder vote would be needed to approve it.

This would be about a $72 billion valuation.

Elon has 33.7 million shares of Tesla. Elon shares of Tesla would be worth $14.1 billion.

Elon Musk net worth would be about $27 billion.

Elon would move past Paul Allen to become the 30th richest person in the world.

Saudi Arabia’s sovereign wealth fund is likely part of the buyout.

It is reported Saudi’s Public Investment Fund purchased between 3% and 5% of Tesla’s shares, in what could be seen as yet another bold bet by Saudi Arabia Crown Prince Mohammed bin Salman. It was in the range of $2-3 billion.

logo

Don’t miss the latest future news

Subscribe and get a FREE Ebook