Published: Tue, August 21, 2018
Life&Culture | By Sue Mclaughlin

Elon Musk says changing the way he (over)works is not an option

Elon Musk says changing the way he (over)works is not an option

Brinkman and his colleagues now "believe that funding was not secured for a going private transaction, nor was there any formal proposal", they wrote, citing a blog post August 13 in which Musk said the Saudi Public Investment Fund had requested more information about how a buyout might work.

Musk said he had no choice but to work long hours because the alternative was potentially catastrophic for Tesla.

"This past year has been the most hard and painful year of my career".

It's unlikely Musk has lost much sleep over concerns about Newark, California-based Lucid Motors, whose predecessor Atieva Inc. was founded in 2007 by Bernard Tse, a former Tesla executive and board member.

The bank's analysts cited doubts about Mr Musk's claims to have secured funding for his take-private plan.

In researching this story, I went back into the CleanTechnica files and was surprised to find we had written barely a word about the company since July of past year when we reported a prototype of the Lucid Air sedan had achieved a top speed of 235 miles per hour. "At least I've not heard any indication that they do".

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Musk said that in late July, he met Saudi Arabian sovereign fund representatives to discuss the electric carmaker's possible exit from the stock market.

The question even came up during a Tesla earnings call past year, when a Morgan Stanley analyst pointed out to Tesla CEO Elon Musk that Apple has more than enough cash to buy Tesla and could help it achieve its vision. "This is why I referred to "funding secured" in the August 7 announcement". Since then, Musk has faced questions from federal investigators and shareholders, as well as mounting concern over Tesla's production issues, debt and his own erratic behavior and leadership style.

Follow Tesla's stock price in real-time here. The company's stock is down 2 percent this year through Friday versus the S&P 500's 7 percent gain.

I drove the regular, 271-hp, rear-wheel-drive Tesla Model 3 a few months ago and liked it. A large number of investors known as short-sellers have bet against the company. He also cried, The Times said, during the interview.

Musk is responding to a letter from Huffington on Friday in which she called on him to take more time to "refuel and recharge". But even with a small stake in Tesla, Apple could be positioned to put its iOS operating software in Tesla cars. He continued: "But from a personal pain standpoint, the worst is yet to come".

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