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.
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.
