We find it hard to believe that Tesla's chief executive officer Elon Musk could possibly be running low on cash, but that's the story we've heard. If true and Musk actually is almost broke, he's a lot less so now with the addition of some $24 million in pocket change courtesy of Tesla's recent IPO. In the first day of trading, Tesla's stock shot up 40 percent, bringing in a significant amount of coin for the company, and Musk benefited, too.
- Eric Loveday
- Jun 29, 2010
Reuters is reporting that a market source has indicated that Tesla Motors sold 13.3 million shares in its IPO at the unexpectedly-high price of $17 per share. The source states Tesla raised nearly $226 million from the offering. Just yesterday, Tesla hinted at a price range of $14 to $16, but high initial interest in the company allowed Tesla to secure investors that were willing to pay the extra bucks.
- Volvo XC40 revealed | Style and substance
- Genesis G70 | Arrow to the heart of the Germans
- Updated Crossover Buying Guides
- Nissan Leaf Quick Spin: Will it electrify buyers?
- Ford Ranger Raptor: What it might look like
- Find and compare 2018 models