What seemed like a joke at first may be serious and as the company's stock price went insane, trading had been halted.
Following the company's surge after last week's earnings, Musk took aim again at a short-seller in a reposted short YouTube video that likened these investors to Hitler's last days. Musk has vowed that the company will start turning a regular profit in the second half of this year.
He says the move could be structured so that so that all shareholders will have a choice to remain investors in the private company or sell their stock for $420 (£324.58 / €362.11) per share. It's not hard to imagine the gyrations that Tesla's stock would go through if Musk's plan was scrapped or substantially changed.
When asked on Twitter whether he was serious, Musk replied: "Yes". He also said he does not now have a controlling vote in the company and wouldn't expect a single shareholder to have one if the company were private.
In July, Model 3 - that comes with a base price tag of $35,000 - not only had the top market share position in its segment in the USA, but it also outsold all other mid-sized premium sedans combined - accounting for 52 per cent of the segment overall.
Tesla did not immediately respond to requests for comment.
The billionaire Musk himself owns a bit more than 20 percent of Tesla stock.
Going private would take the company out of the quarterly reporting cycle, making it "free from as much distraction and short-term thinking as possible", Musk said in a blog post.
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"Musk does not want to run a public company", said Gene Munster of Loup Ventures, as Tesla's ambitious mission makes it "difficult to accommodate investors' quarterly expectations".
Musk's tweet isn't a clear violation of SEC rules, but it could be if it was explicitly meant to boost Tesla's price.
The company's shares rose more than 7% on the news, before Tesla trading was halted.
The U.S. Securities and Exchange Commission allows companies to use social media outlets like Facebook and Twitter to announce key information in compliance with its fair disclosure rules so long as investors have been alerted about which social media outlets will be used to disseminate such information.
"His mission for Tesla (to accelerate the globe's adoption of sustainable energy) is both grand and long-term, making it hard to accommodate investors quarterly expectations", he wrote.
Call options, which convey the right to buy shares at a fixed price in the future, were particularly busy and logged significant price gains on the day after the report.
That came shortly before 3:30 p.m. when Tesla published an email that Musk sent to company employees, saying thatno final decision on taking the company private had been made and that it would ultimately be left to shareholders.
Musk said he hoped current shareholders would keep their stock.
Soros Fund Management LLC took a $35 million stake in the 2019 Tesla convertible bonds in May of 2018.