Musk touts Tesla going public 4 years after ‘Secure Funding’ tweet

  • At Tesla’s AI Day event, Elon Musk touted the benefits of Tesla being a publicly traded company.
  • Musk appears to have changed his stance since tweeting that he was considering taking Tesla private in 2018.
  • Part of Musk’s initial $44 billion bid to buy Twitter was funded by a huge loan against his Tesla stock.

Over the past four years, Elon Musk seems to have changed his mind about being a private company.

In more than one instance at Tesla’s AI Day event on Friday, Musk touted the benefits of Tesla being a publicly traded company, a very different stance than he has taken in the past.

“Tesla…being a single class of publicly held stock is very important and shouldn’t be overlooked. I think it’s critical because if the public doesn’t like what Tesla is doing…the public could buy Tesla stock and vote differently,” Musk said.

“It’s a big deal. It’s very important that I can’t just do what I want. Sometimes people think that, but it’s not true,” he added when discussing the plans. of Tesla to develop its humanoid AI robot.

Just over four years ago, the CEO of Tesla made waves when he tweeted that he was considering taking the company private.

A month after sending that tweet, Musk settled fraud charges with the SEC over allegedly “false and misleading” statements. Musk neither admitted nor denied the allegations, but resigned as Tesla chairman and paid a $20 million fine.

Musk is currently embroiled in a legal battle with Twitter over whether he will buy the social media company for $44 billion. Musk’s initial takeover bid was funded by a huge loan against his Tesla shares. Tesla shares are down more than 30% this year, putting it in a potentially more fragile financial position if its deal to buy Twitter is deemed legally binding.