By Brittany De Lea Published August 13, 2018 Markets FOXBusiness Facebook Twitter Comments Print video Mounting questions for Tesla after Elon Musk’s tweet Former SEC attorney Teresa Goody and The Wall Street Journal tech and autos reporter Tim Higgins on the fallout from Tesla CEO Elon Musk’s tweet about potentially taking the company private. Tesla CEO Elon Musk confirmed reports on Monday morning that the Saudi Arabian sovereign wealth fund purchased a stake in the company worth nearly 5% and held discussions with Musk about taking the company private. Continue Reading Below In a blog post, Musk said the wealth fund has approached him “multiple times” over the past two years to discuss funding for privatization, most recently on July 31. “I left the July 31st meeting 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,” Musk wrote. “I continue to have discussions with the Saudi fund, and I also am having discussions with a number of other investors, which is something that I always planned to do since I would like for Tesla to continue to have a broad investor base.” The… Read full this story
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