Published by Aditya Agarwal on and last updated on

Elon Musk: Tesla is Really ‘Secured’ with Saudi Arabia

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Elon puzzled the Wall Street when he last week said that he would be taking Tesla private. His decision created a lot of buzz and lawsuits. 

He planned to take the company private, at $420 per share. Elon’s statments seemed to be super unrealistic for the fact that buying all the shares at $420 costs more than $70 Billion.  

#Elon latter disclosed that he along with many other investors would stay invested in the privately help #Tesla This would bring the cost to under $24 Billion 

That $24 Billion is a really big amount. And finding new investors seemed to be really difficult for the fact that Tesla has never recorded profit on #WallStreetExchange

When chances seemed slim, and 2 lawsuits had been started against musk. The story opened up.

Saudi’s had been willing to invest up in Tesla, to diversify themselves from oil fields. They had been aporoaching Elon for a long time. 

On July 31st in a meeting Elon Felt “with no question that a deal with the Saudi sovereign fund could be closed, and that it was just a matter of getting the process moving.”

Saudi’s own 5% of Tesla stake, already that they bought from the stock market. There have been many skeptics of this deal, and many lawsuits have been made against the same.

Infact many Tesla employees are hiring attorneys for same, they have asked Elon to calm down on social media, and in the fesr of lawsuits they are willing to soften themselves but Elon is reluctant. 

Aditya Agarwal

Aditya Agarwal

"The People Who Love The Journey, Are The Ones That Reach The Most Beautiful Destinations"

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