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Elon Musk touted the ‘importance’ of Tesla becoming a publicly traded company just 4 years after trying to keep it private with his ‘financially secured’ tweet



Andrew Kelly / Reuters
  • In Tesla’s AI Day Event, Elon Musk advertised the benefits of Tesla being a publicly traded company.
  • Musk appears to have changed his stance since tweeting that he was considering buying Tesla privately in 2018.
  • Part of Musk’s initial $44 billion to acquire Twitter was funded by a massive loan against his Tesla stock.

Over the past four years, Elon Musk seems to have changed his mind about going private.

On many occasions during Tesla’s AI Day event on Friday, Musk touted the benefits of Tesla becoming a publicly traded company, a stance very different from what he has held in the past. .

“Tesla … being a single class of stock owned by the public is very important and shouldn’t be overlooked. I think this is necessary because if the public doesn’t like what Tesla is doing… the public can buy shares of Tesla and vote in another way,” Musk said.

“This is a big deal. It’s very important that I can’t just do what I want. Sometimes people think so, but it’s not,” he added when discussing the company’s development plans. Tesla. Humanoid AI robott.

Just over four years ago, the Tesla CEO caused a stir when he tweeted that he was considering taking the company private.

A month after sending that tweet, Musk settlement of fraudulent charges with the SEC for alleged “false and misleading statements.” Musk neither admitted nor denied the allegations, but he resigned as Tesla chairman and paid a $20 million fine.

Musk is currently caught up in a legal battle with Twitter about whether he would buy the social media company for $44 billion. Musk’s initial takeover bid was financed by a huge loan against his Tesla stock. Tesla’s shares have fallen more than 30% this year, which leaves him in a financial position that could be more shaky if his deal to buy Twitter is hit with a legally binding ruling.

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