On August 7, enigmatic CEO Elon Musk revealed his intent to take the publicly-traded electric vehicle company, Tesla, private. In his statement to Tesla shareholders Musk cited, “wild swings in our stock price”, and “quarterly earning cycles that put enormous pressure on Tesla,” as reasons for his interest in taking the company private. Musk went on to publish a further explanation of the potential privatisation saying, “I’m considering taking Tesla private because I believe it could be good for our shareholders, enable Tesla to operate at its best, and advance our mission of accelerating the transition to sustainable energy”. Musk has since backtracked and stated he intends to keep Tesla public, following feedback from shareholders.
