Can Elon Musk be governed?

New: Gift this subscriber-only story to your friends and family

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.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.

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?. Subscribe