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: