https://phys.org/news/2018-08-tesla-board-musk-private.html

Musk jolted markets Tuesday by announcing the proposal on Twitter and saying he could finance the buyout at a large premium to current valuation, at a price of $420 a share.

Going private would liberate the company from the quarterly reporting cycle, making it "free from as much distraction and short-term thinking as possible," Musk said in a blog post.