Sydney — Elon Musk said no one saw or reviewed his tweet about the plan to take the electric-car maker private before he posted it, the New York Times reported, citing an hour-long interview with the billionaire. Musk, Tesla’s CEO and chairman, typed the tweet as he drove himself to the airport on August 7, the newspaper reported, citing Musk. The tweet said: "Am considering taking Tesla private at $420. Funding secured." The tweet set off a firestorm and caused the stock to jump. The remark about funding also exposed Musk to legal risk. Almost a week later, the CEO said the basis for that statement was conversations with Saudi Arabia’s Public Investment Fund, which first expressed interest in helping take the company private in early 2017. Tesla’s board has since clarified that it hasn’t received a formal proposal from Musk, nor has it concluded whether going private would be advisable or feasible. One funding possibility being considered for the potential privatisation is for Musk...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.