‘It was, at best, hasty and naive, and, at worst, manipulative’: Experts slam Elon Musk’s confusing defense of why he tweeted ‘funding secured’ (TSLA)

Rebecca Cook / Reuters

• Tesla CEO Elon Musk released a statement on Monday in which he shed light on some of the questions raised last week by his statements about taking the company private.
• But Musk’s explanation is incomplete and raises new questions, experts say.
• Musk’s new statement doesn’t back up his claim last week that he had “secured” funding to take Tesla private, Jeffrey Sonnenfeld, the senior associate dean for leadership studies at the Yale School of Management, told Business Insider. 
• And Musk doesn’t explain an estimate he makes about the amount of funding he’ll have to raise to convert Tesla into a private company.

Tesla CEO Elon Musk released a statement on Monday in which he shed light on some of the questions raised last week by his statements about taking the company private. But Musk’s explanation is incomplete and raises new questions, experts told Business Insider. 

Last week, Musk said he was considering taking Tesla private for $ 420 a share and implied that he had the funding to do so “secured,” pending a shareholder vote. But, at the time, he didn’t explain where that funding would come from. 

See the rest of the story at Business Insider

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See Also:

• Elon Musk reveals new details about taking Tesla private, says he thought tweeting announcement was ‘the right and fair thing to do’
• Tesla is reportedly in early discussions with investors about funding to go private
• Elon Musk’s ‘funding secured’ tweet could cost Tesla millions, former SEC chairman says

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