Tesla CEO Elon Musk on a usual Twitter day tweeted his desire to make his billion-dollar company private at USD 420 per share . The reason: to take the pressure off the company.
After his tweet caused a stir, Musk wrote an email to Tesla employees explaining the rationale behind the thought. While the decision is not final, one of the reasons to take the company private to make it operationally efficient without any distractions.
Musk goes on to write how he envisions Tesla following the model of SpaceX where the employees are also the shareholders. The deal will be finalised through a vote of shareholders.