Saudi fund could be involved in potential Tesla buyout
But the potential transaction’s staggering $82 billion price tag means Tesla is still likely to need to tap other sources of cash.
Tesla board members are preparing to meet with financial advisers this week to evaluate Musk’s proposal, reports the newspaper. According to CNBC, directors will probably tell Musk, the chairman, to recuse himself, and they’ve told him to hire his own separate advisers. Musk is hoping to avoid having one or two large stakeholders in a company and would instead prefer to gather the funds from a larger group, the people said. Musk owns 20 percent of Tesla, yet more than $60 billion would be needed to buy the business from public shareholders.