“Funding secured,” explained
reported, and sources cast doubt on the idea that the Saudis would increase their current stake in Tesla.when he tweeted that he was “considering” taking Tesla private “at $420” and that he has secured the funding to do so. The stock exchange briefly halted trading on Tesla shares as investors waited for more information. In a subsequent email to employees, Musk indicated that the tweet was serious, not just a weed joke.
Another critical point to emphasize is that before anyone is asked to decide on going private, full details of the plan will be provided, including the proposed nature and source of the funding to be used. However, it would be premature to do so now. I continue to have discussions with the Saudi fund, and I also am having discussions with a number of other investors, which is something that I always planned to do since I would like for Tesla to continue to have a broad investor base.
He claimed that the deal would be financed with equity rather than debt, arguing that Tesla was saddled with enough debt at the moment. He estimated that “approximately two-thirds of shares owned by all current investors would roll over into a private Tesla.” And he dismissed reports that a buyout could cost as much as $70 billion, stating that they “dramatically overstate the actual capital raise needed.” But he did not clarify what the actual number might be.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Oil Prices Hit 10-Month High Amid Supply Fears as Saudi Arabia, Russia Extend CutsCrude is being squeezed by reductions in output from some of the world's largest exporters.
Lire la suite »
Oil could peak to $100 if Saudi Arabia commits to more cutsOil prices firm up on Monday as traders brace for any comments from the Saudi Arabian minister of energy and oil that could further put pressure on th
Lire la suite »
| Tesla, Saudi Arabia in Early Talks for EV FactoryThe kingdom is trying to boost foreign investment but has a contentious history with Elon Musk.
Lire la suite »
Saudi Arabia didn’t want to take Tesla private, but they may still get a factory.The electric automaker is reportedly in talks to build a new manufacturing facility in the oil-rich nation, according to Wall Street Journal. But any deal would need to overcome a lot of hurdles, including Elon Musk’s contentious relationship with the Saudis (they declined to take Tesla private back in 2018) and the country’s majority stake in rival EV maker Lucid Motors. Much of the talks seem to center on Saudi Arabia’s desire for Tesla’s help securing more cobalt from Africa, which has been linked to human rights abuses. All in all, a tangled mess of foreign relations, late stage capitalism, and bruised billionaire egos!
Lire la suite »
Free Speech Fundamentalist Elon Musk Mass Fired Staff for Saying Mean Things About HimAccording to Walter Isaacson's new biography, Elon Musk mass-fired Twitter employees who were caught saying mean things about him on Slack.
Lire la suite »
How Often Does Elon Musk Think About the Roman Empire?A new meme shows men are way more into ancient history than we realized. Mike Duncan — host of the popular podcast ‘The History of Rome’ — explains why
Lire la suite »