‘Private’ mess: Musk’s credibility goes from bad to worse

DETROIT (AP) — First it was the shocking tweet that funding was secured and Tesla may go private. Then a statement that the money wasn’t locked down after all. Two weeks later it’s never mind, the whole deal is off.

Welcome to the disarray of Elon Musk, the impulsive genius and architect of cutting-edge car, rocket and solar panel companies built nearly from scratch.

Chaos, though, comes with a price. Experts say it all could wind up with Tesla exposed to a fine for misleading investors. And even though Musk has almost legendary status, the episode could damage his credibility with stakeholders who have endured multiple broken promises and years of losses as a public company.

Musk tweeted Aug. 7 he was considering taking Tesla private and that funding had been secured.