Elon Musk took to Twitter on Tuesday to declare that he wanted to take Tesla private in a deal that would value the company at $70bn, potentially bringing an end to his fractious relationship with Wall Street.
Mr Musk’s plans were tweeted out shortly after a Financial Times report that Saudi Arabia’s sovereign wealth fund had taken a $2bn stake in Tesla.
Mr Musk’s unorthodox use of social media to divulge the plans left investors guessing about how serious to take the claims by the mercurial entrepreneur. The Tesla boss dropped his bombshell on Wall Street at lunchtime in New York.
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