Elon Musk considering taking Tesla private

Elon Musk Reveals Details of Tesla V9.0 Software Including Early Access

Elon Musk Reveals Details of Tesla V9.0 Software Including Early Access

Mr Musk has previously discussed the drawbacks of being a public company, saying shareholder demands often produce short-term thinking.

Mr. Musk's account tweeted: "Am considering taking Tesla private at $420. Funding secured", Musk said.

Tesla's shares were up 6.5pc at $363.46.

Musk's surprise announcement comes as the Financial Times revealed that a fund controlled by the Saudi Arabian government holds a stake of between three and five percent in the company. However, given Musk's lack of concern for industry norms and his ongoing feud with short-sellers, it's not out of the realm of possibility.

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According to Deadline , Depp's movie was set to release on September 7, but that will no longer be the case. Depp appeared in character at the 2018 San Diego Comic Con.

While Musk is known for making erratic tweets, he tweeted "420" in a reply to Fox Business anchor Liz Claman, following up on his initial tweet.

The news caused Tesla's share price to jump by $14. The stock has fallen over the past year as losses mounted.

Tesla spokespeople have not yet confirmed the proposal to any media outlets. A share premium in a buy-out is common, so the $420 number isn't out of the realm of possibility.

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