Musk says he may take Tesla private and shares roar

Elon Musk

In follow-up tweets, Musk said shareholders could either sell at $420 or hold their shares and go private, adding that he was super appreciative of Tesla shareholders and would ensure their prosperity in any scenario. Netflix stock moved higher as a result. Musk previously tweeted an April Fool's joke about his $60 billion company going broke.

In a second tweet on Tuesday, Mr Musk said taking the company private would not lead to a single dominant shareholder.

Musk claimed on his personal Twitter account to have secured funding for the maneuver, estimating the per-share valuation of the possible transition at $420.

When asked on Twitter whether he was serious, Musk replied: "Yes.It saves a lot of headaches".

Musk also owns about 10 percent of Space X, which is valued at $25 billion and a large portion of The Boring Company, which analysts have said could reach $16 billion in value if it executes on current contracts.

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The two pieces of news helped move shares of Tesla up almost 6% in trading Tuesday, to $362 apiece.

For years, Musk has enjoyed mocking "shorts"-investors who bet against the value of Tesla's stock". The higher the price, the less likely it is that Tesla will have to repay those loans. I think he's serious.

"T$3 he reason for doing this is all about creating the environment for Tesla to operate best", the email reads. They are also shielded from the ups and downs of the stock market.

Last month, Musk attacked British diver Vern Unsworth, who had dismissed the Tesla chief's efforts to help the rescue mission for the 12 boys as a "PR stunt" in a widely seen interview on CNN. SpaceX is a ideal example: it is far more operationally efficient, and that is largely due to the fact that it is privately held. On the other hand, many of Tesla's most passionate backers bought stock because they believe the price will eventually go to stratospheric levels.

The SEC did not immediately respond to a request for comment on Musk's tweet.

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Here's what I envision being private would mean for all shareholders, including all of our employees.

Harvey Pitt, a former SEC chairman, told CNBC on Tuesday that Musk's tweets "might consittute fraud if any of the facts he disclosed are not true" or if there was any indication that he had floated the proposal purely to boost the stock price. This would enable you to still share in the growing value of the company that you have all worked so hard to build over time.

In his blog post, Musk emphasized that the intention was not to merge SpaceX and Tesla, a strategy that some have speculated about in the past.

Finally, this has nothing to do with accumulating control for myself. However, Musk expects the shareholders to agree with him and allow him to take the company private again.

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