It is impossible for Elon Musk to make Tesla private – despite the CEO’s belief that getting rid of the electric car manufacturer of its duties as a public company would help accelerate innovation, he said before Christmas. evening.
“Engineering, design and general company operations absorb a large part of my brain and there is a fundamental limit on doing more,” Musk tweeted In response to a user who was speculating on how the tech tycoon could allocate his time. “Tesla’s public company duties are a huge factor, but going private is now impossible (ah).”
Tesla, which was added to the benchmark S&P 500 index this week, has seen its shares rise 670 percent since the beginning of the year. With its nearly $ 630 billion market cap, Tesla will be the largest acquisition ever.
Musk became famous in hot water with the Securities and Exchange Commission after an August 7, 2018 tweet, tweeting that he said “Tesla was considering taking a private at $ 420. Financing is secured.” “
Pot Jock paid him a $ 20 million fine and was forced to step down from his role as president of Tesla as a result.
Musk on thursday Tweeted Starlink – the internet beaming satellite business within SpaceX – is his next venture, likely to IPO, stating that it is publicly “one-time revenue growth is quite predictable.”