Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

Hi, what are you looking for?

slide 3 of 2
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Finance

Finance

Elon Musk considering taking Tesla private

Featured image via Flickr/Jakob Harter Featured image via Flickr/Jakob Harter
Featured image via Flickr/Jakob Harter Featured image via Flickr/Jakob Harter

Listen to the article now

Tesla tossup

Elon Musk announced on Tuesday that he is considering taking the company private, as he loathes having to constantly answer to investors.

In fact, Elon Musk even tweeted that he had secured funding to make it go private “at $420.” Although nothing has been confirmed, investors are still shaking at the thought of Tesla not being publicly traded anymore. Musk explained to employees,

As a public company, we are subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla, all of whom are shareholders…I fundamentally believe that we are at our best when everyone is focused on executing, when we can remain focused on our long-term mission, and when there are not perverse incentives for people to try to harm what we’re all trying to achieve.

If he follows through with the plan, shareholders will be bought out for $420 a share, which is significantly higher than its current valuation of roughly $379. In fact, Tesla’s stock has risen 11 percent since the announcement.

Additionally, this news came after a report that the Saudi Arabian Public Investment Fund had acquired a stake in Tesla. Musk notes that Dell pursued a similar strategy and went private after facing pressure from investors.

Musk has been known to make heavy claims, so it will be interesting to see if he follows up with this. It could certainly change the trajectory of the company – whether that’s good or bad, the public will just have to find out.


Comment Template

You May Also Like

Economy

Elon Musk’s government role faces scrutiny amid concerns over his influence on policy and ties to China. As a key figure in the U.S....

Business

AMD faces challenges in the AI chip race as its latest forecast failed to meet investor expectations, causing a stock decline. While the company...

Business

Palantir Technologies’ 2025 revenue outlook highlights its rapid growth as a leader in AI innovation. Projecting $3.75 billion in revenue, Palantir excels in both...

Finance

The insurance industry's shift toward securitized debt, driven by soaring annuity demand, underscores its focus on long-term financial security. Investments in asset-backed securities and...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok