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Elon Musk explains funding plans for taking Tesla private
When Elon Musk said he was seriously looking at taking Tesla private, he still left a few open questions. Why did he decide to not only disclose it with a tweet, but shout "funding secured" from the rooftops? He's now offering an explanation -- not that it'll make everyone happy. In a blog post, Musk claimed that it "wouldn't be right" to limit talks of going private to just the largest investors. The tweets kept everyone in the loop, he said. He also insisted that he was speaking for himself as a "potential bidder" for his company.
Tesla may get help from Saudi Arabia in its bid to go private
Tesla may recruit an unusual ally in its effort to become a private company and take more control over its fate. A Bloomberg source has claimed that Saudi Arabia's Public Investment Fund is in talks that could make it a "significant investor" in Tesla as part of the electric car company's plan to go private. The funding arm has already amassed a five percent stake in Tesla, but this suggests it would grab a larger slice if the plan went forward.
