Elon Musk says Silver Lake, Goldman advising on taking Tesla private

Tesla Inc Chief Executive Elon Musk on Monday tweeted that he would work with buyout firm Silver Lake and investment bank Goldman Sachs as financial advisers on a proposal to take private the electric car maker.

But a source said Silver Lake was offering its assistance to Musk without compensation and had not been hired as a financial adviser in an official capacity. Moreover, Silver Lake is not currently discussing participating in the deal as an investor, the source said. Silver Lake declined to comment.

Musk, who is still looking for funding for the plan, also said law firms Wachtell, Lipton, Rosen & Katz and Munger, Tolles & Olson would be legal advisers on the plan.

Musk shocked markets last week with the tweeted announcement that he was considering taking Tesla private for $420 a share, a price that valued Tesla at more than $70 billion, and that he had "funding secured."

Elon Musk's Boring Company raises $112.5 million for hyperloop tunnels

Elon Musk's Boring Company has raised $112.5 million in equity, the firm said in a regulatory filing on Monday, as it seeks to build underground tunnels for its hyperloop transportation project.

Musk, who also leads electric vehicle maker Tesla Inc and rocket company SpaceX, is seeking to revolutionize transportation by sending passengers packed into pods through an intercity system of giant, underground vacuum tubes known as the hyperloop.

The funding comes about five months after Musk said the Boring Company would compete to fund, build and operate a "loop" to connect downtown Chicago with O'Hare Airport.

Musk had earlier sold Boring Company hats and flamethrowers to raise funds.

The Boring Company says tunnel-digging projects can cost as much as $1 billion per mile. Its goal is to lower these costs by a factor of 10 or more, its website says.