Elon Musk is “impossible” to turn Tesla into a private sector – despite the CEO’s belief that releasing the electric vehicle manufacturer from its public company duties would help accelerate innovation, he said on Christmas Eve.
“The engineering, design and general operations of the company absorb the vast majority of my mind and are the fundamental limit to do more” Musk wrote on Twitter in response to a user speculating on how the tech mogul can best spend his time. “The taxes of the public company Tesla are a much higher factor, but the transition to private is impossible now (sigh).”
Tesla, which was added to the S&P 500 benchmark this week, saw its shares rise 670 percent since the beginning of the year. With a market capacity of nearly $ 630 billion, Tesla would be by far the largest acquisition of all time.
After sending a tweet on August 7, 2018, Musk went into hot water with the Securities and Exchange Commission, after which he said that “he is thinking of taking Tesla private for $ 420. Guaranteed financing. “
The pot joke fined him $ 20 million and forced him to step down as president of Tesla.
Musk and Thursday posted on Twitter that Starlink – the satellite internet business within SpaceX – is his next adventure which is likely to be an IPO, saying it will go public “once revenue growth is reasonably predictable”.