Tesla announces $450M stock sale

By Laurie Bennett

May 16, 2013 at 7:45am

Tesla Motors announced Wednesday that it will sell 2.7 million shares of stock in an effort to raise $450 million.

Elon Musk
Elon Musk

Company chairman and CEO Elon Musk will put in $100 million of his own money.

Proceeds from the stock sale will be applied toward repayment of a $452 million loan debt to the Department of Energy.

Although Musk was a poster boy during the 2012 elections for Republican charges that the Obama administration’s support of green technologies had failed, Tesla’s stock has risen 150 percent in 2013.

Musk, who made his fortune as a co-founder of PayPal, is also chairman of SolarCity Corporation and founder of Space Exploration Technologies.

Follow Muckety on Twitter Tweet This! Share on Facebook

Click here to sign up for the Muckety Newsletter

This post is tagged with: , ,
 Read related stories: Business · Recent Stories · Top one percent  


  • There are no comments yet, be the first by filling in the form below.

Leave a Comment

The relationship map to the left is interactive.
• Solid lines are current relations. Dotted lines are former relations.
• Expand items with + signs by double-clicking or by selecting multiple items in the map and pressing the "e" key.
• Move an item in the map by clicking and dragging.
• You can also delete items, separate boxes and save maps. Right-click on the map or select Map Tools for these options.
• Find out more about an item in the map by right-clicking on the item and choosing Information about...
• View map color key.
• This interactive map requires Flash player.

Become a fan of Muckety on Facebook

  • Search for stories
    Special Features

Follow Muckety on Twitter Follow Muckety on Twitter
Muckety has no direct connection to most of the people or organizations listed on these pages.
We are unable to forward personal messages or provide personal contact information.
We make every effort at Muckety to ensure that our data is correct and timely. However, relationships are in constant flux and we cannot guarantee accuracy. If you come across incorrect or outdated information, please let us know by email.
© 2017 Muckety LLC