‘Not Even Close’: Analysts Reject Elon Musk’s Defense of Tesla ‘Funding Secured’ Claim

Tesla CEO Elon Musk unveils the new Tesla factory in Fremont, Calif., Wednesday, Oct. 27, 2010. The new Tesla factory is the former NUMMI plant. (AP Photo/Paul Sakuma)
AP Photo/Paul Sakuma

Various tech and business analysts are calling out Elon Musk on just how “secured” his funding for a potential deal to take Tesla private again actually is.

Last week, billionaire tech mogul Elon Musk tweeted that he was “considering taking Tesla private at $420,” ending the brief message with a simple but profound two-word statement: “funding secured.” Less than a week later, Musk has walked back the audacious claim in a blog post where he said he had “no doubt” that Saudi Arabia’s Public Interest Fund would bankroll the deal.

The collective reaction was… less than impressed:

Several pundits came up with colorful analogies to illustrate the weakness of Musk’s position:

And potential legal fallout with the Securities and Exchange Commission (SEC) remains a continuing theme:

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