Musk’s Aug. 7 announcement that he was considering taking the company private, made without his alerting his board, said he had “funding secured.” The unexpected turn of events led to a spike in the company’s shares and a brief halt in trading. “I knew the process of going private would be challenging, but it’s clear that it would be even more time-consuming and distracting than initially anticipated,” Musk wrote in a statement that Tesla posted on the company’s Twitter account and blog shortly after 11 p.m.

“After considering all these factors, I met with Tesla’s board of directors yesterday and let them know that I believe the better path is for Tesla to remain public,” he said. Musk, who posted the announcement via Tesla’s blog, said Friday that after speaking with shareholders and investigating the process of taking the company private he believes the better path is for Tesla to remain public. Tesla Inc. CEO Elon Musk said Friday that investors have convinced him that he shouldn't take the company private, so the firm will remain on the public stock markets.The eccentric and sometimes erratic CEO said in a statement that he made the decision based on feedback from shareholders, including institutional investors, who said they have internal rules limiting how much they can sink into a private company.Musk met with the electric car and solar panel company's board on Thursday to tell them he the company to stay public and the board agreed, according to the statement.In an Aug. 7 post on Twitter, Musk wrote that he was considering taking the company private. “The board and the entire company remain focused on ensuring Tesla’s operational success,” they said, “and we fully support Elon as he continues to lead the company moving forward.”

The six directors — James Murdoch, Antonio Gracias, Robyn Denholm, Brad Buss, Ira Ehrenpreis and Linda Johnson Rice — served on a special committee to evaluate the prospect of taking Tesla private.
Two weeks after Elon Musk expressed his intentions of making Tesla, Inc. private, he and the company's board announce that the company will remain publicly listed.