Deals

Elon Musk reveals he is working with Goldman Sachs and Silver Lake to help take Tesla private

1 month ago   |   By Business Insider

Max Whittaker / Getty Images
Elon Musk said via Twitter Monday evening that he was working on a proposal with Goldman Sachs and Silver Lake as financial advisors to take Tesla private.
In a statement on Monday , Musk also shared more details about who might fund a deal to take Tesla private.
Musk said in the statement that a meeting with the managing director of Saudi Arabia's sovereign wealth fund prompted his tweet about wanting to take Tesla private. But Musk said he is also having discussions with other investors because he wants to "continue to have a broad investor base."
Elon Musk...
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Some of Tesla's board members were reportedly 'totally blindsided' by Elon Musk's tweet about going private

Some of Tesla's board members were reportedly 'totally blindsided' by Elon Musk's tweet about going private

1 month ago   |   By Business Insider

Max Whittaker / Getty Images
Elon Musk's decision to tweet that he was considering taking Tesla private reportedly caught the company's own board of directors off-guard, The New York Times reported Monday night.
That August 7 tweet caused Tesla's stock to skyrocket to $380 per share that day.
In the days that followed, the SEC got involved, reportedly investigating Musk's online musings about taking the company private.
The fallout from that tweet follows an extended run of public missteps by the Tesla CEO.
Elon Musk's decision to tweet that he was considering taking Tesla private...
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'It was, at best, hasty and naive, and, at worst, manipulative': Experts slam Elon Musk's confusing defense of why he tweeted 'funding secured'

'It was, at best, hasty and naive, and, at worst, manipulative': Experts slam Elon Musk's confusing defense of why he tweeted 'funding secured'

1 month ago   |   By Business Insider

Rebecca Cook / Reuters
Tesla CEO Elon Musk released a statement on Monday in which he shed light on some of the questions raised last week by his statements about taking the company private.
But Musk's explanation is incomplete and raises new questions, experts say.
Musk's new statement doesn't back up his claim last week that he had "secured" funding to take Tesla private, Jeffrey Sonnenfeld, the senior associate dean for leadership studies at the Yale School of Management, told Business Insider.
And Musk doesn't explain an estimate he makes about the amount of funding he'll have to raise...
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