Public or Private, Tesla Fans Are Along for the Ride

Can he pull off an audacious deal that would take Tesla- like SpaceX- private

Can he pull off an audacious deal that would take Tesla- like SpaceX- private

It is not clear if PIF is interested in financing Mr Musk's proposed take-private deal.

If Musk can pull it off, he will have burnished his reputation as an eccentric visionary who has been compared to Tony Stark, the billionaire playboy depicted by actor Robert Downey Jr.in the "Iron Man" movies.

The SEC declined to comment to CNNMoney.

Skepticism about the legitimacy of Musk's proposed deal surfaced nearly immediately after Musk dropped the bombshell on his Twitter account a few hours after the stock market opened Tuesday.

For Musk personally, as Tesla's CEO, going private must be extremely enticing.

In a statement on Wednesday, Tesla's board said its discussion with Musk "addressed the funding" for the deal, without offering more details.

In an email to Tesla employees on Tuesday, Musk said the structure envisioned for Tesla is similar in many ways to the SpaceX structure: external shareholders and employee shareholders have an opportunity to sell or buy approximately every six months. Before that happened, Tesla's stock had already soared. Now, as the board's announcement has gone out that it would actually consider the possibility of going private, the stock has again begun to jump up in again in after-hours trading.

Tesla Inc's board of directors is seeking more information from CEO Elon Musk about how his plan to take the US electric vehicle maker private for $72 billion will be financed, according to people familiar with the matter.

Bloomberg on Thursday afternoon confirmed the paper's report and said the federal securities regulator had been looking into Tesla's public statements before the tweet. Musk did not identify the buyout parties when he tweeted. Musk has feuded publicly with regulators, critics, short sellers and reporters, and some analysts suggested that less transparency would be welcomed by Musk. The statement also gave no details on how the price of USA $ 420 per paper had been established. And because shares would no longer be traded on an exchange, short sellers would be shut out.

Musk, who normally doesn't shy away from social media, didn't tweet about the subject Thursday.

Is Elon Musk's sensational tweet legal?

The news comes two days after Musk, Tesla's CEO, announced via Twitter that he's considering taking the company private at $420 per share.

Some of the fervor for a Tesla buyout faded Wednesday.

I don't tweet often and, for the life of me, I don't understand why serious people, in the most consequential positions, choose Twitter as their medium to communicate breaking news. Tesla lost another $717.5 million in its most recent quarter.

Soon people were declaring they had secured funding for all sorts of things - mostly food-related. "I am not sure it is beating him down, but I am sure he is sick of it".

Musk and SoftBank held unsuccessful talks about a take-private deal in April 2017, according to a source familiar with the matter.

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