What does he mean by taking Tesla private?
Update on Taking Tesla Privatehttps://www.tesla.com/blog/update-taking-tesla-private?redirect=no …
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Pulling it off the publically traded (i.e. NASDAQ) market
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But why would he do that? Wouldn't he be getting more people to buy the cars if it was private?
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Nothing to do with the cars - it's to do with how the equity (ownership of the company) is traded.
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Who is he trading the company too?
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Nobody - at the moment the company is owned by thousands of individual shareholders, who can buy and sell shares on the NASDAQ. Elon currently owns ~22% of Tesla. By taking it private, he will be offering (with fin. support) to buy out any shareholders at $420, and delisting
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Alright, makes much more sense now lol.. Thanks man
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glad I could help - 2 more replies
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Al᠌o᠌ng wi᠌th t᠌he up᠌date᠌, Her᠌᠌e'᠌s᠌ so᠌me sec᠌᠌ret g᠌i᠌v᠌e᠌a᠌w᠌a᠌y for ev᠌eryo᠌ne... Wa᠌nt᠌ t᠌o ᠌s᠌ee?
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Summary: —“funding secured” was from July 31 meeting w Saudi wealth fund, had seemed doubtless that was what had been agreed upon, —even without that, still working on plan to take Tesla private, —likely need less than half of 70B to go private, —meeting w inst. shareholders now
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waiting for @elonmusk to like this. - 1 more reply
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