Elon musk has a plan to quiet Tesla critics for good

When you think of companies going private, your first thought is not tech firms with no earnings and a USD 65 billion valuation. But from now on it will be after Elon Musk’s Tuesday afternoon bombshells.

Photo: /ritzau/AP/Ben Macmahon

Tesla Inc.’s founder took annoyance with short sellers and his campaign against myopic thinking to new heights, tweeting that he has financing to take the electric-car maker private for USD 420 a share. The ensuing rally burned bears to the tune of USD 800 million.

As a market operator, Tesla is a study in extremes. Its 47 percent annualized gain since 2010 has done nothing to quiet an exceedingly vicious war of words between Musk and his detractors. Musk gets many things a growth company wants from public markets: a sky-high stock, loyal shareholders, capital to expand. But it’s never been enough to give him peace of mind.

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