Elon Musk says impossible to take Tesla private, mulls new IPO

Billionaire Elon Musk has said that it is impossible to take Tesla private now, but it seems that he is mulling an IPO for SpaceX’s budding space-internet business.

Tesla CEO Elon Musk has said it is impossible to take the company private now as its public company duties are a much bigger factor. As much as he would have liked to spend more time on innovation, the billionaire said “going private” is an impossible prospect for Tesla. Musk’s comment came in reply to a tweet asking him to optimise his time in areas such as innovation.

Tesla shares, which were included in the S&P 500 index this week,

have surged eightfold this year ahead of the addition to the benchmark

measure. The gain is twice the advance of the next best performer on the gauge. The share price jump also created millionaires among its investors, and propelled Musk’s net worth by $132.2 billion to $159.7 billion, making him the world’s second-richest person, according to the Bloomberg Billionaires Index.

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