Musk did not brag and published a statement announcing the source of funds for privatization

On August 13th local time, Musk announced some details of Tesla's privatization plan on Tesla's official website, explaining why he said that "funding sources are guaranteed."

On August 2, Elon Musk notified the Tesla board of directors of his plan to take Tesla private at $420 per share. After that, Tesla's external board held a full board meeting (Elon Musk and Kimbal did not attend) to discuss Elon Musk's proposal.

Tesla then held another full board meeting, during which Elon Musk explained to the board the discussions on fundraising and why going private would be beneficial to Tesla's long-term development.

Elon Musk announced the privatization plan for the sake of fairness. He hopes to let all investors know his privatization plan instead of discussing it only with Tesla's major shareholders.

Recently, the Saudi fund bought 5% of Tesla shares through the stock market. After that, they asked for another meeting. The meeting was held on July 31. During the meeting, the senior executives of the Saudi sovereign fund expressed regret that Elon Musk did not continue the privatization process before, and strongly expressed their support for providing financial support for Tesla's privatization at this time.

After the privatization plan was announced on August 7, Elon Musk continued to communicate with senior executives of the Saudi sovereign wealth fund.

The fund's executives expressed support for Tesla to continue with financial and other related due diligence, as well as other internal review procedures for obtaining approval. At the same time, the fund's executives asked for more details on how the company would be privatized, including the proportion of shares to be privatized and regulatory requirements.

Musk dismissed reports that Tesla would need to spend more than $70 billion and estimated that about two-thirds of existing investors would continue to hold Tesla after it goes private.

Elon Musk said he will continue to communicate with investors and hire consultants to study a range of possible corporate structures and options. This will also give him a more accurate understanding of how many of Tesla's current shareholders will become shareholders after Tesla is privately owned.

Regarding the final resolution, Tesla's board of directors has set up a special committee and will conduct appropriate evaluation procedures with legal counsel. If the board approves the plan, the required regulatory requirements must be obtained and the plan will be submitted to Tesla shareholders for a vote.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.