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Seven days: 10 August 2018

Seven days: 10 August 2018

Tesla tweets

Elon Musk has never been one to play by the rules, but announcing his intention to take Tesla private via Twitter was one of his most unorthodox moves to date. The entrepreneur – who founded the electric car maker in 2003 – said he would pay $420 per share or $70bn for the company because he thinks Tesla will do better without the distractions of a stock market listing. Mr Musk’s tweet came just hours after the Financial Times reported that Saudi Arabia’s Public Investment Fund had amassed a stake of between 3 and 5 per cent this year.

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