Elon Musk considers taking Tesla private in tweet, shares rise


A tweet from Tesla boss Elon Musk's account suggests he is "considering" taking the electric vehicle firm private.

In a second tweet on Tuesday, Mr Musk said taking the company private would not lead to a single dominant shareholder.

On Twitter Tuesday, Musk said he has secured funding from a private buyer.

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Tesla didn't immediately respond to a request for comment.

Shares in Tesla were up sharply following the tweet, trading at $363 at the time of writing.

The company had a market value of $58 billion as of Monday's close.

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Musk's surprise announcement comes as the Financial Times revealed that a fund controlled by the Saudi Arabian government holds a stake of between three and five percent in the company. It would be one of the biggest go-private deals on record with a price tag of about $72 billion, based on $420 per share.

It's never a boring day when Elon Musk takes to Twitter.

But it was not clear how seriously to take the post, given Mr Musk's history on the social media service. I think he's serious.

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"Details, structure, participants and how the valuation has been determined remain to be seen".