After days of speculation and conflicting reports, Elon Musk has broken his silence about his plan to take Tesla private. In a Monday morning blog post, Musk explained that he has been in talks for weeks with managers of Saudi Arabia’s sovereign wealth fund to finance the massive deal, which some estimate could cost as much as $50 billion. But it’s unclear whether Musk’s explanation will mollify federal regulators, who are reportedly looking into whether his statements from last week were misleading.
Musk said that the Saudis first approached him about taking Tesla private in early 2017, but they only ramped up those talks in recent days after purchasing almost 5 percent of the company’s stock on the public markets. Musk said he took a...
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