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- At Tesla’s AI Day event, Elon Musk touted the benefits of Tesla being a publicly traded company.
- Musk appears to have changed his stance after tweeting that he plans to take Tesla private in 2018.
- Musk’s $44 billion initial bid to buy Twitter came in part from a hefty loan on Tesla stock.
Over the past four years, Elon Musk seems to have changed his tune about being a private company.
On more than one occasion at Tesla’s AI Day event on Friday, Musk touted the benefits of Tesla being a publicly traded company, a departure from his previous stance.
“Tesla … being a single stock owned by the public is very important and should not be overlooked. I think this is very important because if the public does not like what Tesla is doing … the public can buy shares in Tesla. And vote differently,” Musk said. .
“It’s a big deal. It’s important that I can’t just do what I want. Sometimes people think that, but it’s not true,” Tesla added when discussing his plans to develop a humanoid AI robot.
Just four years ago, Tesla’s CEO made waves on Twitter that he was considering taking the company private.
— Elon Musk (@elonmusk) August 7, 2018
A month after sending that tweet, Musk settled fraud charges against the SEC for “false and misleading statements.” Musk has neither admitted nor denied the allegations, but resigned as Tesla chairman and paid a $20 million fine.
Musk is embroiled in a legal battle with Twitter over whether to buy the social media company for $44 billion. Musk’s initial bid for ownership was backed by a large loan against Tesla stock. Tesla’s shares are down more than 30% this year, which would put it on a high financial footing if the deal to buy Twitter goes through.
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