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Elon Musk tweets he is ‘considering’ taking Tesla private

By reviews / 7. August 2018

Elon Musk has surprisingly revealed he is considering taking the electric car company private once again. In a tweet, the founder and CEO says he has secured the funding to buy out publicly-owned shares.

In a series of tweets on August 7, Musk said existing Tesla shareholders could chose to sell at $420 per share, or keep their holding and be part of a private enterprise that is no longer traded on the stock market.

Following the unconventional announcement through the social media platform, Tesla shares rose 7.4% to $367.25. Now trading has halted pending further news.

Musk followed up the tweet by promising to take care of Tesla shareholders, promising to “ensure their prosperity in any scenario.”

Musk intimated his thinking on the matter had been influenced by the actions of Michael Dell, who bought back the computer company in 2013 after 25 years on the stock market.

Developing…

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Original source: https://www.trustedreviews.com/news/elon-music-tesla-private-shares-3525903

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