Billionaire entrepreneur Elon Musk has revealed that he could have raised the funds to take Tesla private.
In a recent interview with The New York Times, Musk said that he had been in talks with several investors who were willing to provide the necessary funds for the move, but that he ultimately decided against it.
“I could have raised the funds to take Tesla private, but I chose not to,” Musk said. “I felt that it was better for the company to remain public and continue with its mission of accelerating the world’s transition to sustainable energy.”
The news comes after Musk’s much-publicized tweet in August that he was considering taking Tesla private at $420 per share. The tweet, which sent shockwaves through the financial world, sparked an investigation by the US Securities and Exchange Commission (SEC).
Musk later settled with the SEC, agreeing to pay a $20 million fine and step down as Tesla’s chairman for three years.
The Tesla CEO has since said that he is focused on the company’s mission and that he remains committed to leading the company.
“I’m here to build the future,” Musk said. “That’s my focus and that’s what I’m going to continue to do.”