Elon Musk's texts

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Baller move

⚽

Sucks being public

Sucks being private without IPO alternative for inst investors/employees with RSU’s

Works for SpaceX

We do a liquidity event every 6 months

You might have similar problem I had with Tesla though. Too many individual financing rounds with aggravating terms. Only way to clear out the stupid assholes was to go public.

Exactly. No other IPO alternative exists at the moment.

SpaceX must be RSU free…

No, we mostly issue RSUs

How are they structured that selling them in a liquidity event doesn’t trigger tax on the entire holding of the employee

Tax is paid as they vest. For the first 5 or 6 years, people just got options, so this wasn’t an issue.

so it was a blend

Their not selling rsu’s..

Thing is that I have a ton of stock and haven’t had to pay tax on it

SpaceX is 16 years old, so vast majority of people have RSUs

Most of last decade has been RSUs

Would Bret be down to chat with our cfo

Sure

Cool. Send him over to me and I’ll add her. [REDACTED]

Just called. Btw, this is Elon. Not sure if you have my new number.

Nope didn’t have it…am traveling. Nice block 5!

Thanks!

Wanna invest in Tesla?

I’ll ask David Drummond to reach out to your folks.

Sorry, I’m kinda into emojis these days

This is a major problem. It is extremely important that you confirm that you are in discussions with me regarding the take private transaction. Nothing more needs to be said. If this is not said, we will never speak again. Never.

Elon, As you know, PIF purchased a passive stake in shares of Tesla on the market in April 2018 as part of our investment strategy to diversify away from oil and increase our investment in emerging technologies, including electronic vehicles. PIF remains interested in potential investment opportunities that are consistent with its investment strategy and the EV space is one of interest. We would like to explore investing in Tesla subject to being able to create a Tesla production hub in the Kingdom of Saudi Arabia that serves MENA, Europe, Asia and Africa with the right incentives on all fronts (subsidies on energy and land, tax exemptions, support in obtaining financing, etc). Therefore, as discussed, we would like our teams to start working together in a confidential manner to explore a potential transaction. All the best, Yasir

Thank you, this is much appreciated. Very important that media inquiries confirm this statement.

Please note that any SAUDI venture will be 100% owned by Tesla And no strains attached.

Got it, thanks

What the hell is going on here? This is false.

It’s not true. No body talked to them.

Good morning Elon, Just wanted to check-in and see when your team would be able to start sending us information and perhaps have a kickoff call with our International Investments Team. If Sam can organize, that would be great. Best, Yasir

Please refute this false statement that PIF has no interest in Tesla. This is outrageous.

I am deeply offended

This is an extremely weak statement and does not reflect the conversation we had at Tesla. You said you were definitely interested in taking Tesla private and had wanted to do so since 2016. You also made it clear that you were the decision-maker, moreover backed strongly by the Crown Prince, who regards this as strategically important at a national level.

I’m sorry, but we cannot work together

It’s up to you Elon

You are throwing me under the bus

It takes two to tango We haven’t received any thing yet

Let’s get on the phone and discuss

Are available now

Sorry

It’s over

Let’s see the numbers and get our people to meet and discuss. We cannot approve something that we don’t have sufficient information on. We’ve agreed that you will send the financial information and the way going forward within a week and no thing happened since. The last thing I want to do is the "through you under the bus" I am your friend. So, please don’t treat me like an enemy. I’m willing to fly to you or we can meet somewhere in Europe and discuss a constructive next steps.

Tesla is a publicly traded company and there is detailed information in our earnings newsletter and Q&A afterwards

You bought 5% based on that

Details on how we can take the company private

That’s what we agreed on

What is the required percentage and so on

What are required regulatory thresholds for taking it private

Yasir, when we met at Tesla recently, you said that you were the decision-maker for PIF, that you had wanted to do the Tesla take-private deal for two years, and that this was supported directly by the Crown Prince. I checked with my team who were in that meeting in case I remembered something wrong and they confirmed this exactly.

You are extremely experienced financially and are well-aware of what a go-private would require, which is that there would need to be at least a 20% premium to market in order to buy out any shareholders who don’t want to remain part of the company when it is private. This is all standard practice. Nothing unusual at all.

There are many other investment funds who want to be part of this deal. We do not need your fund to get this done. I will not work with an organization who’s public statement to the media do not match their private statements to me and my team.

We haven’t taken any company private yet in the us or any where els and the agreement as was minuted by my people is to wait for the information to be sent be you within a week, on how we will move forward to gather.

Please extend an offer to the Crown Prince that I would like to apologize personally and explain why Tesla will not with PIF in this transaction.

We haven’t gone to the media yet

Read the article please

I read the article. It is weak sauce and still makes me sound like a liar. It is filled with equivocation and in no way indicates the strong interest you conveyed in person.

Let’s meet ASAP. Please let me know what works for you

I am sorry, but there will be no further communication unless you fix the public perception of wishy washy support and interest from PIF. That is not what you said to me and my team privately. Someone is either a friend or not a friend and no friend says one thing privately and another thing publicly. This is not right.

In light of these actions and nothing meaningful done to correct them, Tesla will be moving forward with Silver Lake, Goldman and other investors to take Tesla private.

Please let them know if you wish to retain or sell your current position in Tesla

I will ask Shihana to call Sam so they can work on PIF statement.

Thank you. This means a great deal.

Elon, I am personally surprised. You have signed an NDA and while we are waiting for you and your team to provide us with information to move forward, you post an ill-advised blog with loose information. Anyway, we hope that you and your team work on gathering the information as soon as possible and send that to us to move forward. Yasir

You shouldn’t be

I’m still upset

You allowed people to think that I was a liar

Reuters reported that two sources from PIF confirmed no interest in Tesla, which is absolutely false, and yet you did nothing until I forced the issue

Regarding the take-private proposal, I have engaged Silver Lake and Goldman. We will have documents ready in about a week. Since we are a publicly traded company, any non-public information about Tesla will need to be vetted carefully and, if considered material by legal counsel, will need to be provided to all shareholders simultaneously.

Links to original tweets: Airbnb cofounder, Larry Page, Saudi Public Investment Fund

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