You may have noticed the other day that Elon Musk took to Twitter to reveal that he’s considering taking Tesla private at $420 a share. “Funding secured,” he confidently signed off. “My hope is *all* current investors remain with Tesla even if we’re private. Would create special purpose fund enabling anyone to stay with Tesla. Already do this with Fidelity’s SpaceX investment.”
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
Unsurprisingly, the news sent Tesla’s stock rocketing up by 11 percent, closing the day at just under $380. Given that Musk reportedly has in the region of 33.7 million shares of Tesla, that single days’ surge increased the CEO’s net worth by an incredible $1.4 billion.
The news also did significant damage to those betting against Tesla, with those holding short positions (it’s one of the most shorted stocks in the world) losing a total of $3 billion – not bad for a single tweet.