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.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
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