Elon Musk insists he has funding to take Tesla private, but won't because investors pleaded with him not to

  • Elon Musk announced on Friday that he no longer wants to make Tesla a private company.
  • In a blog explaining why he made the decision, Musk insisted he could fund the move, despite widespread skepticism.
  • Instead, he said that investors persuaded him that Tesla is better as a public company.
  • He summarized the reaction from shareholders as "please don’t do this."

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Shares of Tesla opened down about 1.5% Monday after falking as much as as 5% over the weekend, opening at $310 — 35% below Musk’s targeted $420 per share for going private.