Elon Musk indicates taking Tesla private as he posts 'funding secured' tweet

Elon Musk is considering taking Tesla Inc private, the chief executive officer of the electric car-maker tweeted on Tuesday.

In a second tweet on Tuesday, Mr Musk said taking the company private would not lead to a single dominant shareholder.

"Funding secured", the tweet added, offering no further details on timing or source of funding.

After rising as much as 8.5 percent, the company's shares gave up some of their gains. The company is now valued at just over $60 billion, with Musk holding an nearly 20 percent stake in the company.

Tesla spokespeople have not yet confirmed the proposal to any media outlets.

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- CBS News' Jillian Harding contributed reporting. He said is considering taking the company private at $420 a share and already has secured funding.

"My hope is all current investors remain with Tesla even if we're private", Musk tweeted. Musk owns almost 20% of the company.

Tesla's shares jumped as high as $371.15 in afternoon trading. "Would create special objective fund enabling anyone to stay with Tesla".

Analysts took Musk at his word. They were initially driven higher after the Financial Times reported Saudi Arabia has quietly built a big stake in Tesla. The stock has fallen over the past year as losses mounted.

George Galliers of Evercore ISI said he believed the tweet was serious.

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