Musk Says in Tweet He Is Considering Taking Tesla Private

Elon Musk

Elon Musk

"Yes, might take Tesla private", he said. Shares climbed about 2% on Tuesday, and then soared after Musk tweeted.

On April Fool's Day, Mr Musk, who owns nearly 20% of the company, joked on Twitter about Tesla going bankrupt.

Tesla now has a market value around $60 billion, which would make its take-private price tag about $80 billion, Galloway said. He implied the funding values the company at $420 a share.

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The BBC has been unable to verify the post was written by Mr Musk himself, but it has pushed the shares 6% higher.

On April Fool's Day, Mr Musk joked on Twitter about Tesla going bankrupt.

Tesla spokespeople have not yet confirmed the proposal to any media outlets. If the tweet is serious (and not the work of hackers or a particularly wild night on the factory floor), it would allow Tesla to go private and inject some much-needed capital into the company. "Already do this with Fidelity's SpaceX investment". So it will take some very deep pockets to buy up all of Tesla's publicly held stock.

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Short interest in Tesla on Monday stood at almost $12 billion, equivalent to 28 percent of its float, according to S3 Partners, a financial analytics firm.

And according to a report by The Financial Times, Saudi Arabia's sovereign wealth fund - which is overseen by crown prince Mohammed bin Salman - has reportedly invested heavily in Tesla, building up a stake between 3% to 5%.

"Details, structure, participants and how the valuation has been determined remain to be seen".

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