*By Carlo Versano* Could SpaceX be the vehicle that allows Elon Musk to take Tesla private? As the fallout from Musk's "funding secured" tweet continues into a third week, some believe the embattled CEO might be looking to borrow against his own shares of SpaceX ー in which he owns a controlling stake ー to buy out Tesla shareholders, said Axios business editor Dan Primack. That tactic would theoretically quell a SpaceX shareholder or board revolt, since the company wouldn't be taking on debt to finance its CEO's other company. SpaceX remains a private company. "He is willing to bet a lot of his own money on himself," Primack said Monday in an interview on Cheddar. This method may allow Musk to fulfill the promise of his Aug. 7 tweet without having to rely on deep-pocketed outside investors like the Saudis. Reuters [reported](https://www.reuters.com/article/us-lucidmotors-m-a-pif-exclusive/exclusive-saudi-pif-in-talks-to-invest-in-aspiring-tesla-rival-lucid-sources-idUSKCN1L40MP) exclusively over the weekend that Saudi Arabia's sovereign wealth fund ー the fund that Musk had said may help him fund the Tesla buyout ー is actively discussing an investment in Lucid Motors, a start-up positioning itself as a rival to Tesla. But Primack said that's not necessarily a bet against Musk; it's more likely an example of the Saudi fund diversifying its electric-car position. Meanwhile, Musk has been on a media blitz. After telling the [New York Times](https://www.nytimes.com/2018/08/16/business/elon-musk-interview-tesla.html) that his job was taking a serious emotional toll on him, he spoke to [YouTube personality Marques Brownlee] (https://www.youtube.com/watch?v=MevKTPN4ozw), suggesting that it would take "maybe" three years to produce a $25,000 car. Then, over the weekend, Musk replied in a tweet to Arianna Huffington, who [posted](https://www.thriveglobal.com/stories/40343-open-letter-elon-musk) an open letter to the CEO on her wellness site Friday, urging Musk to reevaluate his long hours and get more sleep. "You think this is an option. It is not," Musk [wrote at 2:30 am PT on Sunday](https://twitter.com/elonmusk/status/1031111742103814144). In an earlier interview on Cheddar Monday, Ed Carson of Investor's Business Daily said that Musk's stewardship of Tesla cuts both ways. The CEO represents his company's "greatest strength and their greatest weakness," Carson said. Since Musk's personal style and vision are so closely tied to that of Tesla, Carson added, if the chief exec seems "unstable" in an interview or on social media, "that is really concerning" for shareholders. For full interview, [click here] (https://cheddar.com/videos/teslas-go-private-bid-the-spacex-factor).

Share:
More In Business
Michigan Judge Sentences Walmart Shoplifters to Wash Parking Lot Cars
A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
State Department Halts Plan to buy $400M of Armored Tesla Vehicles
The State Department had been in talks with Elon Musk’s Tesla company to buy armored electric vehicles, but the plans have been put on hold by the Trump administration after reports emerged about a potential $400 million purchase. A State Department spokesperson said the electric car company owned by Musk was the only one that expressed interest back in May 2024. The deal with Tesla was only in its planning phases but it was forecast to be the largest contract of the year. It shows how some of his wealth has come and was still expected to come from taxpayers.
Goodyear Blimp at 100: ‘Floating Piece of Americana’ Still Thriving
At 100 years old, the Goodyear Blimp is an ageless star in the sky. The 246-foot-long airship will be in the background of the Daytona 500 — flying roughly 1,500 feet above Daytona International Speedway, actually — to celebrate its greatest anniversary tour. Even though remote camera technologies are improving regularly and changing the landscape of aerial footage, the blimp continues to carve out a niche. At Daytona, with the usual 40-car field racing around a 2½-mile superspeedway, views from the blimp aptly provide the scope of the event.
Is U.S. Restaurants’ Breakfast Boom Contributing to High Egg Prices?
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
Load More