Elon Musk touted the 'importance' of Tesla being a publicly traded company just 4 years after trying to take it private with his 'funding secured' tweet




Elon Musk.
Elon Musk.  
  • At Tesla's AI Day event, Elon Musk touted the benefits of Tesla being a publicly traded company.

  • Musk seems to have changed his stance since tweeting that he was considering taking Tesla private in 2018.

  • Part of Musk's initial $44 billion bid to buy Twitter was financed by a huge loan against his Tesla shares.

Over the last four years, Elon Musk seems to have changed his tune about being a private company.

In more than one instance during Tesla's AI Day event on Friday, Musk touted the benefits of Tesla being a publicly traded company, a very different stance than he has held in the past.

"Tesla... being a single class of stock owned by the public is very important and should not be overlooked. I think this is essential because if the public does not like what Tesla is doing ... the public could buy shares in Tesla and vote differently," Musk said.

"This is a big deal. It's very important that I can't just do what I want. Sometimes people think that, but it's not true," he added when discussing Tesla's plans to develop its humanoid AI robot.

Just over four years ago, the Tesla CEO made waves when he tweeted that he was considering taking the company private.

One month after sending that tweet, Musk settled fraud charges with the SEC for allegedly "false and misleading statements." Musk neither admitted nor denied the allegations, but he resigned as Tesla's chairman and paid a $20 million fine.

Musk is currently embroiled in a legal battle with Twitter over whether he will buy the social media company for $44 billion. Musk's initial takeover bid was financed by a huge loan against his Tesla shares. Tesla's shares are down more than 30% this year, which puts him in a potentially shakier financial position should his agreement to buy Twitter be ruled legally binding.

COMMENTS

More Related News

'Biden Team' Requested Twitter Scrub Scandalous Hunter Biden Info Days before 2020 Election

Internal documents released by Elon Musk on Friday reveal confusion among Twitter management over the suppression of the Hunter Biden laptop bombshell.

Exclusive-Twitter exec says moving fast on moderation, as harmful content surges
Exclusive-Twitter exec says moving fast on moderation, as harmful content surges

(Reuters) -Elon Musk's Twitter is leaning heavily on automation to moderate content, doing away with certain manual reviews and favoring restrictions on...

Kanye Who? Musk Shifts Twitter Focus to Hunter Biden Laptop
Kanye Who? Musk Shifts Twitter Focus to Hunter Biden Laptop

Taylor Hill/GettyYet again, Elon Musk turned Twitter into a spectacle on Friday evening, promising to air the company's dirty laundry about "what really...

Elon Musk Just Let A Notorious Neo-Nazi Troll Back On Twitter
Elon Musk Just Let A Notorious Neo-Nazi Troll Back On Twitter

Andrew Anglin spent his first day back on Twitter defending Ye's antisemitic rants.

France
France's Macron discussed Twitter content rules in meeting with Musk
  • US
  • 2022-12-03 00:09:20Z

"Transparent user policies, significant reinforcement of content moderation and protection of freedom of speech: efforts have to be made by Twitter to comply...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Economy