So What's Going On With Tesla, Elon Musk?

The SEC wants to know, and rapper Azealia Banks has some theories
By John Johnson,  Newser Staff
Posted Aug 14, 2018 11:40 AM CDT
Tesla CEO Elon Musk.   (AP Photo/Kiichiro Sato, File)

(Newser) – It sure has been an interesting week for Tesla CEO Elon Musk, and things might get worse before they get better. The controversy began last Tuesday when Musk startled his own company board by announcing that he might take Tesla private and, in fact, had "funding secured." Now the SEC is looking into how Musk handled the announcement, and one law professor tells the Wall Street Journal that "the probability that there will be an SEC enforcement action is, I think, quite high." Meanwhile, some bizarre accusations about Musk emerged from rapper Azealia Banks. Coverage:

  • Musk's explanation: On Monday, Musk wrote in a blog that he's been in talks with Saudi Arabia's sovereign wealth fund to provide the needed money to take the company private. The post appeared to be an attempt to quell the controversy over his initial tweet, notes the New York Times, which talks to people familiar with the Saudi fund who say a deal is nowhere close. In fact, the story asserts that Musk made his initial tweet with "little forethought." On Monday, Musk also tweeted that he was getting legal and financial advice on a deal from Goldman Sachs and others.

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