Not long ago, Elon Musk tweeted that he would be taking Tesla private and that funds have already been secured. This tweet was met with a lot of murmuring among investors, shareholders, and lovers of Tesla.
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
Just when we thought that was all, Elon made a U-turn recently in a blog post on Tesla’s official website where he stated that the best is for Tesla to remain public. According to Elon, he decided to remain public after consulting with his investors and board of directors.
In the blog post, he said, “it’s apparent that most of Tesla’s existing shareholders believe we are better off as a public company.” He would went on to explain that, taking Tesla private will be a very challenging, distracting and time-consuming task.
This announcement was greeted with sighs of relief from investors and shareholders.