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‘Private’ mess: Musk’s credibility goes from bad to worse

'Private' mess: Musk's credibility goes from bad to worse | iNFOnews.ca
FILE- In this June 14, 2018, file photo, Tesla CEO and founder of the Boring Company Elon Musk speaks at a news conference in Chicago. For years, Tesla’s board remained almost invisible, staying behind the curtain as Musk guided the electric car maker to huge stock price increases. Now, given Musk’s recent questionable behavior, experts say it’s time for the board to step onstage and take action on the company’s leadership. (AP Photo/Kiichiro Sato, File)

DETROIT – First it was the shocking tweet that funding was secured and Tesla may go private. Then a statement that the money wasn’t locked down after all. Two weeks later it’s never mind, the whole deal is off.

Welcome to the disarray of Elon Musk, the impulsive genius and architect of cutting-edge car, rocket and solar panel companies built nearly from scratch.

Chaos, though, comes with a price. Experts say it all could wind up with Tesla exposed to a fine for misleading investors. And even though Musk has almost legendary status, the episode could damage his credibility with stakeholders who have endured multiple broken promises and years of losses as a public company.

Musk tweeted Aug. 7 he was considering taking Tesla private and that funding had been secured.

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Abbey Westbury

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