August 7, Elon Musk announced his intention to withdraw the shares of Tesla at auction, buying them into private property. Today on the official website of Tesla, the entrepreneur confirmed that soon with the assistance of the public investment Fund of Saudi Arabia (Public Investment Fund of Saudi Arabia — PIF), he will become the sole owner of all shares of the company.
The first steps towards the redemption of his creation Mask made in early 2017, after talks with partners from the PIF. Today, this process is not just the desire of the founder, but also the need for a trade war between the US and China. Bought all the shares of the company, Elon Musk wants to transfer the production to Saudi Arabia and to start serial production of automobiles (according to preliminary data, about 500 thousand units per year). Judging by the Mask, the main issues are resolved, the case remained for small.
However, experts believe that the head of Tesla in a hurry with optimistic statements. If the Commission on securities and stock exchanges of the USA (U. S. Securities and Exchange Commission) will be the basis for penalties, plans Mask can lead to a fines of hundreds of millions of dollars, and even criminal liability. According to market experts, the Mask no more than an attempt to «save face».
Being the owner of 20% of the company, Elon Musk is confident that, thanks to the strong support of partners from Saudi Arabia, which owns 5% of shares, his plan will be realized. By the way, after the statement of the businessman, the shares of Tesla rose to $367,25. However, this increase is unlikely to stop a businessman who is willing to pay $420 per share.
Public reports every step of the Musk explained the need to inform investors about their decisions.
