Instagram models can make serious bank with sponsored posts, but Elon Musk may take the cake for using social media for money moves.
Business Insider reports a recent tweet from the Tesla CEO made him $1.4 billion richer. In the short message, Musk said he had plans to make Tesla a privately-owned company at $420 per share. He also claimed to have the "funding secured" to make the move.
And that is all he needed to say for stockholders to run and buy shares of the company while they still could, which led to $1.4 billion more in Musk's pockets.
"Shareholders could either to sell at 420 or hold shares & go private," Musk later explained. "My hope is *all* current investors remain with Tesla even if we’re private. Would create special purpose fund enabling anyone to stay with Tesla. Already do this with Fidelity’s SpaceX investment."
Musk continued to reassure O.G. shareholders that their investment would not go unnoticed. One tweeter reached out to ask him for "a provision for retail investors who have held Tesla shares prior to Dec 31, 2016" which would convert their shares to private shares.
"Absolutely. Am super appreciative of Tesla shareholders. Will ensure their prosperity in any scenario," tweeted Musk. But it isn't written in stone yet. Musk says the move is "contingent on a shareholder vote."
He also released a full statement on the idea.
