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Last week, Elon Musk made a Tweet referencing taking Tesla private at a price of $420, with “funding secured.” At the time we, and several other outlets, tried to speculate who it was that Musk had secured funding from, and postulated that the best fit seemed to be the Saudi Arabia Public Investment Fund (PIF)
Earlier today, Elon Musk made an official post on Tesla’s website confirming that indeed this was the intended source of Tesla’s privatization funding (https://www.tesla.com/blog/update-taking-tesla-private). But with some sources claiming that the Saudi Arabia PIF hasn’t confirmed its intent to invest, it’s still not clear what’s going to happen next.
So, in order to help, here’s what’s going on thus far, what’s likely to happen, and what hurdles need to be overcome for Tesla’s privatization to occur.
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