Can Elon Musk be governed?

On Tuesday, Aug 7, Tesla's chief executive famously tweeted: "Am considering taking Tesla private at US$420. Funding secured." In a later tweet, he announced: "Investor support is confirmed."

These announcements sent markets into a frenzy. Given that Tesla's stock price was trading at US$340 prior to this tweet, there were billions of dollars on the line for investors - not least of which was Mr Elon Musk himself, who owned more than 33 million shares at the time of the announcement. The stock price increased to nearly US$380 following the initial tweet - that's a temporary US$1.2 billion (S$1.6 billion) gain for Mr Musk.

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A version of this article appeared in the print edition of The Straits Times on September 21, 2018, with the headline 'Can Elon Musk be governed?'. Print Edition | Subscribe