Western Journalism: Saudi Arabia’s sovereign wealth fund would be the main source of money for Tesla CEO Elon Musk’s grand plan to take the company private, but the deal isn’t done yet, Musk disclosed in a blog on Monday.
The fund approached Musk about going private multiple times during the past two years, and Musk says he left a July 31 meeting with no question that the deal could be closed. That’s why he tweeted on Aug. 7 that he had “funding secured” to take the company private.
It is that phrase that may lead to trouble for Musk.
If the tweet is deemed by regulators to be a factual statement, and it was taken as such by investors who drove shares up 11 percent on that day, Musk could be at risk for securities fraud if it wasn’t entirely true. MORE
I’m pretty sure lying by a CEO about having funding that isn’t true is against the law, but that’s okay he’s a democrat and Sessions is impotent.
I saw the first Tesla in my town yesterday. Inched my way forward to see a young blonde in the passenger seat and a 60-70ish male driver leaning on the console like a 25 y.o. kid.
I bet she was his granddaughter. 🙄
No right to repair your own Tesla. Try it and the mothership will shut you down. As a result, repairs are extremely expensive. Don’t think for a second insurance on your 2003 Honda (blue book $3k) isn’t being hiked to cover expenses on these $100k+ unicorn vehicles that lose pieces on the road and burst into flames. Elon is fucking you on federal taxes and on private insurance. Even when you take no part in his shenanigans. Not to mention his other retarded ventures that hook just as retarded cities like Chicago to dig a tunnel to an airport for a few Billion to raise even local taxes. Keep paying for Elon, you have no choice, and he NEEDS you. It feels good to be needed, right?
He will say anything to keep the stock price up but the fact is he has never delivered on his promises and if the stock price goes below $200 Tesla is in big trouble and he knows it .the company is losing money and some of its subsidies are going away . I have never seen a company propped up this long with such losses it’s crazy.
Need to change that logo to a big “L”.
Not a genius, Musk is a genuine LOSER.
He creeps me out. I picture him wearing a trench coat with nothing under it.
@Will –
What’s wrong with being nekkid under a trench coat?
I do it all the time.
Oh, wait….wrong site….nevermind. I’ll go sit in the corner, now.
The most skilled hustlers become senators. EM must not meet the standard.