Markets aren’t buying Elon Musk’s definition of “funding secured”

Nearly a week later, Elon Musk has revealed what exactly he meant when he said he had “funding secured” to take Tesla private at $420 per share. Faced with lawsuits from flummoxed shareholders, Musk said in a blog post that his apparent partner in the venture is the Saudi sovereign wealth fund.

On Aug. 7, Musk roiled markets with a terse tweet:

Am considering taking Tesla private at $420. Funding secured.

Elon Musk (@elonmusk) August 7, 2018

The electric car company’ shares were...


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