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.
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
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.
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Still waiting for your quote of him retracting anything about it.
Still waiting for your quote of him retracting anything about it.
I was intending the conflict of interest. If Tesla ever goes down then everyone thinks that the Saudis sabotaged it to slow the introduction of EVs and slow the fall in oil prices. If Tesla goes great then everyone in OPEC thinks SA is backstabbing them. if Tesla doesn’t do as well as predicted, but doesn’t falter, then both sides get angry. They may both be correct.
I was intending the conflict of interest.If Tesla ever goes down then everyone thinks that the Saudis sabotaged it to slow the introduction of EVs and slow the fall in oil prices.If Tesla goes great then everyone in OPEC thinks SA is backstabbing them.if Tesla doesn’t do as well as predicted but doesn’t falter then both sides get angry.They may both be correct.
in fairness..that totally sounds like the saudi way of doing things, buy the most prominent brand because you’ve got hundreds of billions of dollars in private equity parked…call it diversification….decades later realize that a super overcapitalized single brand does not buy you diversity nor a permanent position in the EV space. That said…I’ll probably by a Tesla in 2020 lol. But I keep my physical and financial hats in different spots. Again, not Brian, Brian, please let me have the Pleb.legation. I have no idea why I ended up with this name.
in fairness..that totally sounds like the saudi way of doing things buy the most prominent brand because you’ve got hundreds of billions of dollars in private equity parked…call it diversification….decades later realize that a super overcapitalized single brand does not buy you diversity nor a permanent position in the EV space. That said…I’ll probably by a Tesla in 2020 lol. But I keep my physical and financial hats in different spots. Again not Brian Brian please let me have the Pleb.legation. I have no idea why I ended up with this name.
Still waiting for your quote of him retracting anything about it.
I was intending the conflict of interest.
If Tesla ever goes down then everyone thinks that the Saudis sabotaged it to slow the introduction of EVs and slow the fall in oil prices.
If Tesla goes great then everyone in OPEC thinks SA is backstabbing them.
if Tesla doesn’t do as well as predicted, but doesn’t falter, then both sides get angry.
They may both be correct.
in fairness..that totally sounds like the saudi way of doing things, buy the most prominent brand because you’ve got hundreds of billions of dollars in private equity parked…call it diversification….decades later realize that a super overcapitalized single brand does not buy you diversity nor a permanent position in the EV space.
That said…I’ll probably by a Tesla in 2020 lol. But I keep my physical and financial hats in different spots.
Again, not Brian, Brian, please let me have the Pleb.legation. I have no idea why I ended up with this name.
No, he retracted nothing.
Yes he did backtrack…in his SECOND tweet.
Get with reality, Kool-Aid drinker.
Moron, he has not backtracked at all.
The Kool-Aid is strong and you drank it all.
arstechnica.com cars 2018 08 employee-email-explains-elon-musks-plan-to-take-tesla-private
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put me in the no list
No he doesn’t. He made two tweets. One where he makes up this $420 thing to apparently manipulate the markets to raise the stock price. Then after market close, he posts another tweet where he backtracks.
Where’s the money? “reported’ does not equal “Trump has the money”.
That Kool-Aide is strong.
Saudi Arabia buying the public face of electric cars? That can go wrong in so many ways.