Elon Musk Got 1.4 Million Dollars Richer Because Of A Tweet

Tesla's board might not know where Elon's 'secure' funding is coming from

One lawsuit, filed by Tesla investor Kalman Isaacs, said Musk's tweets amounted to a "nuclear attack" on short-sellers, created to "completely decimate" them for not believing in Tesla's stock to date.

Saudi Arabia's Public Investment Fund (PIF) has shown no interest so far in financing Tesla Inc CEO Elon Musk's proposed $72bn deal to take the United States electric auto maker private, despite acquiring a minority stake in the company this year, two sources familiar with the matter said.

The proposed class-action complaint filed by Kalman Isaacs in San Francisco federal court accused Tesla and Musk of trying to artificially manipulate the company's stock price. In reaction to Musk's Tweet, the price of Tesla's stock soared to an intra-day high of $387.46, $45.47 above the previous day's closing price, closing at $379.57 per share. Short-sellers are one of the reasons he wants to take the company private - to protect Tesla from the distractions of share price volatility and pressure to meet quarterly financial targets.

"I have not seen significant short covering in Tesla since Elon Musk's tweets", Dusaniwsky told Benzinga.

Tesla declined to comment for this story. His personal stake in Tesla is nearly 20 per cent. The board is said to be interested in that information, obviously, since funding must be secure if Elon's buyout, which could cost $70 billion, is to happen.

May 2, 2018 - Tesla shares slump after Musk cuts off analysts on a conference call asking about company finances, criticizing their "boring, bonehead" questions.

Elon Musk says Saudi Arabia could finance bid to take Tesla private
Going back nearly two years, the Saudi Arabian sovereign wealth fund has approached me multiple times about taking Tesla private. He wrote that in the blog and the August 7 tweet that he was speaking for himself as a potential bidder for the company.

August 1, 2018 - Tesla reports its biggest-ever loss but shares rise on Musk's claims of positive cash flow and profit in the second half of 2018, and signs of more consistent Model 3 production.

Indeed, Tesla continues is burning through cash at an annualized rate of $4 billion as it tries to sort through its myriad of production problems.

Even a "preliminary commitment" with an investor or bank would be enough to support the idea that Musk's statements were made in "good faith", Fisch said.

Here are some of the key events in Tesla Inc's turbulent history as a public company.

The case is Isaacs v Musk et al, U.S. District Court, Northern District of California, No. 18-04865.

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