Musk strikes Tesla investors, saying the company can go privately

Eight years after Elon Musk took Tesla public car, Mercurial CEO began on Tuesday saying he wants to make the automaker back to a private company – at least for a while.

Musk, in a series of public tweets and an email to employees, said he had financed Tesla privately, with the shareholders to receive $ 420 per share.

Moved, he said, would release Tesla from the public market’s emphasis on quarterly results. It would release the company from the “short sellers” who have invested in Tesla’s high share price, Musk added – people he has accused of spreading incorrect information about Tesla and its cars.

The Palo Alto company said he might return to the public markets later, when it comes to a period of “slower, more predictable growth”. The plan to go privately, said Musk, must be approved by the shareholders.

“In principle, we believe we are at our best when everyone is focused on implementing when we can focus on our long-term mission and when there are no perverse incentives for people to try to harm what we all try to achieve “he wrote in the e-mail, which

One comment

  1. At least Chelsy is ambitious and is finishing her studies. Good for her. She’s no dumb blond.

    By Kazi. Posted March 8 2009 at 9:40 AM.

    These two ‘Princes’ have bitten the bait and are now being reeled in by women of a hidden agenda like two helpless haddocks! They are dragging what is left of the Monarchy into the gutter by associating with Women of no ambition apart from ‘fame by association’ accepting the kudos that comes with the deal and come across as nothing more than ‘Martini Girls’…………’anytime, any place, any where’! This boosts the inflated egos of the two overgrown Schoolboys who have no sense of duty now nor in the future. Their Father is too weak a character to have a go at the pair of them. He should be pulling them up and telling them the facts-of-life. These two are going to end up in relationships with women who know exactly what they are doing when they do not………then the goodtimes will be over and reality might just touch first-base!!!

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