Tesla CEO drops latest bombshell with $72B buyout proposal

Tesla CEO drops latest bombshell with $72B buyout proposal

6 years ago
Anonymous $oIHRkISgaL

https://phys.org/news/2018-08-tesla-ceo-latest-bombshell-72b.html

Musk got the ball rolling Tuesday after the stock market had already been open more than three hours with a tweet announcing he had secured funding to buy all of Tesla's stock at $420 per share with no further details.

At that price, the buyout would cost nearly $72 billion, based on Tesla's outstanding stock as of July 27, but it's unlikely the deal would cost that much because Musk owns a roughly 20 percent stake in the Palo Alto, California, company. He also said he intends to give Tesla's existing shareholders the option of retaining a stake in the company through a special fund, if they want.