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Home > News > Company News > Musk may take Tesla private

Musk may take Tesla private

  • Author:Ella Cai
  • Release on:2018-08-09
Elon Musk set the cat among the pigeons last night with this tweet: ‘Am considering taking Tesla private at $420. Funding secured.’

Wth the stock closing at 379 last night, this may be an attractive offer for shareholders. It values Tesla at $80 billion. Musk owns 20% of the stock.

The funding may be coming from the Saudi Sovereign Wealth Fund which owns between 3 & 5% of Tesla.

In July, Tesla sold 16,000 Model 3 cars making it the top seller of small and luxury cars in the US abead of BMW and Mercedes.

In March, Tesla awarded Musk $2.6 billion in share options which could be worth $55.8 billion if Tesla meets 12 successive targets aimed at growing Tesla to a $650 billion valuation.

If it does nothing else, last night’s tweet will deliver a sharp kick in the pants to short sellers of Tesla stock.