Imagine how much sadder Elon Musk would be today if he had managed to take Tesla Inc. private in 2018. In August 2018, he tweeted “considering taking Tesla private at $420. Funding secured,” and spent a few days pretending it might happen. Eventually he decided not to do it, because (1) in fact he had no funding and (2) it would not have been possible to take Tesla private and keep all of its public shareholders, which for some reason is something that Musk said he wanted to do. It was all pretty half-baked, and later Musk got in trouble with the Securities and Exchange Commission because pretending you’re going to buy out a public company is something of a no-no.
But imagine he’d done it; imagine he had taken umpteen billion dollars of Saudi sovereign wealth money and bought out all of Tesla’s public shareholders, leaving himself and the Saudis as the only owners. In some sense, it would have been an incredible trade. Tesla’s stock closed at $341.99 the day before Musk tweeted that he’d buy it for $420. It closed yesterday at $1,034.07. In between there was a 5-for-1 stock split. The stock is up more than 1,100% from Musk’s proposed deal price in about three years. Yesterday’s closing price gave Tesla a market capitalization of $1.03 trillion. In hindsight, Musk would have been buying the company cheap:
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October 27, 2021 at 12:27AM
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Elon Musk Had a Good Day - Bloomberg
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