Elon Musk is Considering taking Tesla off the Stock Exchange. Elon Musk, the director of Tesla, is considering taking his car company off the fair.
Musk would pay 325 pounds per share, he writes on Twitter. With the current number of shares issued, that would amount to more than 54 billion pounds.
In a supplementary statement, the Tesla director mentions that the stock exchange listing results in the focus being too short-term, instead of the long-term development of the company.
He stresses that no final decision has yet been taken.
Investment of Saudi Arabia
The tweet follows the news that Saudi Arabia’s state investment fund has taken a 3 to 5 percent stake in Tesla, according to reports.
It makes the investment fund one of the eight largest shareholders of the company.
Musk himself owns about a fifth of Tesla. To take the company off the stock exchange,
it must obtain approval from other significant shareholders.