SpaceX could finance Tesla Inc’s privatization move

As per a report by the NYT, SpaceX could potentially take a stake in Tesla and partially help finance the buyout.

As per a report by the New York Times, Tesla Inc’s CEO Elon Musk has no plans to relinquish his role as chairman and chief executive officer of the company.

NYT’s interview of Musk comes in the wake the visionary CEO facing intense scrutiny by the U.S. Securities and Exchange Commission (SEC) over his tweets that he aims to take Tesla private. Musk has also attracted lawsuits because of the tweets.

According to the forty seven year old billionaire, no one had seen or reviewed his tweets before he went public and posted them on Twitter.

The SEC has sent subpoenas to Tesla regarding Musk’s plan to take the company private and his statement that funding was “secured”.

On Monday, Musk had stated through a blog post on Tesla’s website that he was in discussions with Saudi Arabia’s sovereign wealth fund and with other potential backers regarding the buyout, which was yet to be finalized.

Another potential possibility being considered is that SpaceX could help bankroll Tesla’s privatization move and as a result it will have a stake in the carmaker, reported NYT citing unnamed sources familiar with the matter at hand.

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