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He must have the money in place. If not he just manipulated the stock price with fake news and he will get sued and possibly be convicted of securities fraud. He is not that stupid. they have the funding.
One thing I'd like to bring up, might have previously been mentioned (sorry if that's the case). I keep seeing reports from credible news agencies saying Musk needs to come up with around $81 billion (stock plus debt). This doesnt seem accurate to me as Musk already owns 20% of the stock. He doesnt need to buy himself out does he?! So the number will be less than what's being reported due to that. Also, wouldn't other large share holders likely keep their portion just like Musk plans to do? (in reference to board members for example, since I think the idea is to keep everything as is but just go private) So there is potential to reduce the ending "buyout" number even more?Agreed. This has been planned for a while. It was the "short burn" he's been talking about.
For sure, he has the money allocated. I'm really curious who it would be. There's some really big $$ here, and only so many sources.
Going private avoids management's feet from being held to the fire on promises made. Such as 5,000 per week and profitable Q3 and Q4. Kindly remember it was Musk, not analysts, or shorts, who made those promises that boosted the stock. Now it seems he wants to no longer be held accountable. You really think that is a wise move?
This guy is lying. 5000 shares at $370/ share = 1.85 Million dollars. Anybody who just bought $1.85M worth of Tesla stock is not blathering about it on this forum.What fraud? He already said it is not a done deal. If the deal falls apart and the stock drops to $300 again you can only blame yourself. Not Musk. All he did today was outline what he is trying to do in what he thinks is in the best interest of the company. Guys like you ran up the stock price on hopes of profit taking way too soon.
Without the details of his plan, you have nothing so far except 5,000 shares you paid way too much for.
Well we can still keep the shares in the private fund. Which I plan on doing.
Correct. Tesla will not be employee owned. That wasn't my point. My point is just because it's privately held doesn't mean there aren't rules. Tesla must still go through standard practices.Great example: Except Tesla will not be an employee-owned and operated company. Tesla will be controlled by those with the largest number of shares who will be making the rules. Who is going to set the share price for Tesla?
You did not mention that Publix shares cannot be sold to the public. Only Publix can buy them back. What happens if Tesla runs out of cash to buy your shares at any given time? Publix and Tesla are apples to oranges in comparison. If Tesla goes into decline how are you going to bail out? Simple answer, you can't.
According to the Fidelity rep I chatted with yesterday, my Fidelity IRA will not require me to cash out.If one holds such shares in a retirement fund (IRA), is holding shares in a private fund permitted in an IRA, or would one be required to cash out?
Didn't FB run into this problem at one point. I think that maybe true but owners like Fidelity and TRowe I think can resell them to individuals and others and not count as part of the 2000. Not sure 100% sure. Also big companies with a lot of employees would easily exceed thisAll the non-employees here know they won't be able to keep their shares, right? There is a legal limit of 2000 shareholders for private corporations.
I am really not sure how comfortable I am with Saudi's involvement. Am really not sure.Elon Musk gives an update on going private:
Update on Taking Tesla Private
With a CFIUS review it wont happen. There is too much technology there and also the cross research with SpaceX that CFIUS will most likely reject that. Tencent and Softbank probably wont work either. It will have to be a US based company or one friendly to the US. So maybe softbank but after ARM not sure how much powder they have left.I am really not sure how comfortable I am with Saudi's involvement. Am really not sure.
declaring Tesla "critical technology"