Hyperdrive
Musk Mulls Taking Tesla Private, Valuing Company at $82 Billion
- CEO would need about $66 billion to complete the transaction
- Billionaire has bristled at the scrutiny his EV maker faces
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Elon Musk said he’s considering taking Tesla Inc. private in a radical step that, if successful, would ease pressure on the money-losing automaker.
The announcement, made initially via Twitter, stunned investors and sent Tesla’s stock price soaring as much as 13 percent. It followed the news that Saudi Arabia’s sovereign wealth fund had built a less than 5 percent stake in Tesla worth about $2 billion.