At a recent Goldman Sachs conference, Murdoch called his experience at Tesla "fascinating" and praised Musk for setting "some really audacious goals" for the maker of electric vehicles. Elon Musk then published in the network on which it sits kind of passed out, leaning on the side of the electric auto, and on the chest hangs a Board with the inscription "Bankrupt".
A week after the initial tweet, however, Musk backed down, indicating he came up with the idea after a meeting with executives from the Saudi Arabian sovereign investment fund and had no clear plan for privatization.
A subsidiary of T. Rowe that manages the company's mutual funds boosted its investment in Tesla to 10.2 percent during a tumultuous quarter for the Palo Alto, California-based vehicle maker, shown by controversial tweets by Musk about taking the company private. "He's going to get access to so much deal flow".
Elon Musk has been the Chairman of Tesla's Board of Directors, ever since the automaker was founded way back in the year 2003.
His stepping down from the chairman position is also rumoured to be associated with concerns for his health due the high stress nature of his job. Atherton also said that it expects Tesla to also outsell Mercedes during Q4 as production accelerates.
Apart from these reasons, Murdoch will also face a mighty challenge in the face of Musk himself, Reuters notes, saying that "any chairman would have to contend with [Musk's] powerful personality".
Post his spat with the Securities and Exchange Commission, Elon Musk ended up paying tens of millions of dollars in fine. KeyCorp restated a "hold" rating on shares of Tesla in a report on Thursday, August 2nd. Glass Lewis, in particular, asserted that Murdoch already served on too many boards, and had "a troubled history as an executive and director". Now, almost half a year later, it looks like tequila could be the latest in Tesla's arsenal of merchandise it sells to fans.
Since then, Musk's twitter has been a public platform for his company, which allows the SEC to file the lawsuit on his tweet, and its false claims. In the years since the filing, Musk has used Twitter to go on rants against short sellers, the media, and celebrities.
"Just want to [sic] that the Shortseller Enrichment Commission is doing incredible work", Musk, a frequent critic of investors betting against the electric vehicle company, wrote.