Tesla's Investors Make the Company. They May Also Ruin Its CEO

Elon Musk in Chicago

Elon Musk in Chicago

"There were times when I didn't leave the factory for three or four days - days when I didn't go outside", Mr Musk said.

During the interview, Musk maintained that his social media post was based on repeated and ongoing assurances that the official sovereign wealth fund of the Saudi Arabian government was interested in bankrolling a buyout.

It's all taking quite the personal toll on Musk, he revealed in an emotional interview with the New York Times on Thursday.

In an emotional interview with The New York Times, Musk also revealed that the pressures of work had caused him to spend his birthday stuck in the Tesla factory and nearly miss his brother's wedding. Rather than celebrating with friends or family, Musk said he was holed up at Tesla's offices for a full 24 hours, overseeing the delayed production on the Model 3.

Musk acknowledged that no one read his Twitter post before he sent it, but said he did not regret it.

For more about Musk's state of mind, including the reason he settled on $420 as the target price for a buyback of Tesla shares, check out the Times interview.

Tesla CEO Elon Musk recently announced his plans to convert Tesla from public to private, as well as making the shares $420 a piece.

Tesla's board has moved to clarify Musk's comments by saying it hasn't received a formal outline of a plan to go private from Musk and hasn't reached a conclusion about whether going private would be achievable for the auto maker.

Oil edges lower as Cushing build adds to demand fears
More specifically, analysts are converging on a range of between 700,000 bpd to 1 mb/d of disrupted Iranian supply, give or take. Oil drops as economic turbulence in Turkey and the strengthening greenback heightens concerns about global oil demand.

"As a result, it was clear to me that the right thing to do was announce my intentions publicly".

Though Musk says that his tweeted ultimatum was definitely intentional, and that he has secured to funding to make it a reality, he understood that the 420 reference might make people assume the billionaire - who is known for being a bit of a troll - was joking.

But while Tesla is always on the lookout for senior talent, no official search for a COO is now underway, said the person familiar with the board's thinking. Is there someone who can do the job better?

"It's [physical health] not been great, actually". Some suspect there is a deeper meaning to this figure, however, due to the history of drug-related tweets on Musk's Twitter account.

"This is why I referred to "funding secured" in the August 7 announcement", he said, referring to his surprise tweet on that date that he was thinking about taking Tesla private.

This source said Tesla's independent board members had hired law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP to help handle the SEC inquiry and other fiduciary duties with respect to a potential deal.

Tesla Inc. has received a subpoena from the U.S. Securities and Exchange Commission regarding Elon Musk's effort to take the company private, indicating the regulatory scrutiny of his statements have reached a more serious stage.

But he said: 'If you have anyone who can do a better job, please let me know. So short-sellers only benefit when the company - and Musk himself - fails.

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