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Following the tweet, where Musk revealed he has already secured funding for the move, he sent an e-mail to employees explaining his reasons for wanting to go private.

At US$420 per share, a deal would be worth US$72 billion (S$98 billion) overall.

About an hour and 20 minutes after Musk's initial tweet, Tesla actually did halt trading of its shares, pending the release of news from the company. Short sellers are speculators who effectively bet against the price of Tesla's shares, potentially adding to the volatility of Tesla's stock price and giving them a vested interest in seeing Tesla fail.

Asked on Twitter whether Musk would continue to be CEO under such a scenario, he replied there would be "no change". Even as the world's 31st-richest person and Tesla's largest shareholder, Musk would be reliant on outside funding for any buyout since his fortune is highly illiquid.

It's no joke that particularly in the U.S. and here in Australia, public companies are using share markets more for capital subversion, tax minimisation and corporate capture rather than truly creative, risky capitalistic endeavours.

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Those who previously received Ontario Works social assistance program would likely rolled back into the program, she said. Single people in this program could receive up to $16 989 per year, whereas pair - $24 027.

The rally after Musk's tweet unleashed fresh pain for short-sellers in Tesla, the most shorted US stock, according to financial technology and analytics firm S3 Partners. He said his own stake of about 20 percent would not be "substantially different" if the plan were to proceed. He said in his letter to employees he did not seek to expand his ownership.

In his letter, Musk suggested a choice for shareholders of selling their shares for $420 each or remaining investors in a private Tesla. The stock then plunged to as low as $244.59 in April as the company struggled to meet production targets for its Model 3 sedan and Moody's Investors Service cut Tesla's credit rating deep into junk-bond territory.

The most obvious equity partners for Musk would be a sovereign wealth fund such as Saudi Arabia's Public Investment Fund (PIF) or major technology investment funds such as SoftBank Group Corp's Vision Fund, bankers said.

The stock move could give Tesla some debt relief.

"Earlier today, I announced that I'm considering taking Tesla private at a price of $420/share".

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The cause of crash is now being investigated by the Federal Prosecutor's Office, in partnership with local Swiss authorities. Daniel Knech of the Swiss safety investigation service SESE said the crew did not have time to send out a distress signal.

By taking Tesla private, Mr Musk believes that the company will be able to sharpen its long-term focus of revolutionising an automobile industry dominated by fuel-combustion vehicles without having to cater to investors' fixation on how the business is faring from one quarter to the next. Public companies often have thousands of shareholders-ranging from huge pension plans and mutual funds to ordinary retail investors.

"Being public means that there are large numbers of people who have the incentive to attack the company", he wrote. His $12 billion Tesla stake would presumably be rolled into the private enterprise. Should the funding disclosure turn out not to be true, it could be viewed as "misleading", he warned.

Earlier on Tuesday, a source familiar with the matter said Saudi Arabia's PIF had bought a minority stake of just below 5 percent in Tesla.

But more recently Mr. Musk seemed to be turning things around.

Tesla alerted investors in a 2013 SEC filing that they should follow Musk's Twitter feed for "additional information" about the company. With $2.2 billion in cash on hand at the end of the second quarter, Tesla would have enough to operate until the end of the year.

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Chairman M Venkaiah Naidu assured Mr Sharma that he would look in to the matter after the debate ob NRC is concluded. He also allayed fears among a section of people, insisting "there is no need to panic as it is not the final NRC".

"As a public company, we are subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla", Musk wrote.


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