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I'm pissed. I've been invested in Tesla for over two years. I was hoping to hold for the long term and maybe retire early. It seems to me that taking Tesla priv

I'm pissed. I've been invested in Tesla for over two years. I was hoping to hold for the long term and maybe retire early. It seems to me that taking Tesla private is just another investment opportunity being taken away from the masses. Think about SpaceX, think about all the startups that Google and Facebook buy up that are never publicly traded. There are many investment opportunities out there, probably most of the best opportunities, that are only accessible to an elite club of billionaires. Musk claims people will still be able to invest in Tesla and hold shares, but I'm heavily skeptical. I'm Canadian, and many US financial companies do not deal with foreigners. There is also no way for me, currently, to invest in SpaceX. That opportunity is reserved to the ultra rich. As a Tesla investor, this is a real blow. As someone who grew up poor and only became "middle class" after years of hard work, I feel like I've been spit in the face.

hughes 8y ago
What's preventing you from continuing to hold?
- marvin 8y ago
  If this goes through, Tesla will no longer be listed on the stock exchange, and all those shares will be force-bought at the sale price. There is talk of creating an investment vehicle that allows existing shareholders to retain their ownership after the company has gone private, but there isn't any information yet on how this would affect foreign investors.
  - nickik 8y ago
    Elon already said this was not the case. You will be able to continue to hold. Stop spreading a panic when you have no evidence that your story is true.
    - marvin 8y ago
      Can you give a link that corroborates this? Because this was distinctly not my impression after reading Tesla’s press release.
      - hughes 8y ago
        Directly from the press release: > I would like to structure this so that all shareholders have a choice. Either they can stay investors in a private Tesla or they can be bought out at $420 per share[...] My hope is for all shareholders to remain
        marvin 8y ago
        Yes, I got that part, but "stay investors in a private Tesla" doesn't mean that this will magically happen by default. Depending on how your broker operates, you will at the very least have to sign some documents. I don't know enough US securities law to know what happens with the currently listed shares, but they will probably disappear and be replaced by some other ownership structure. There is also the possibility that your broker won't do the necessary paperwork and will just liquidate your position, or require you to move your shares to a legal entity that can assist you. Granted, they probably wouldn't do this without notifying you. And if you're a non-US person, there are probably issues regarding transfer of shares, potential tax realization and so on. Not to mention the requirement to be an accredited investor, which I'm not sure how Tesla will skirt. There are a lot of open details here. I can see that my initial comment could be misinterpreted, but my point was that "You will be able to continue to hold" is not quite the complete picture.
shawn 8y ago
This can be summed up as “it sucks to be not-rich.” But that’s always been true. Class mobility has been the exception rather than the rule, and I’m not sure there are ways of changing that other than on an individual basis (i.e. starting a startup and winning). A grim outlook, to be sure. But look at the flipside: emperors of old could only dream of the luxuries we enjoy on a daily basis. We can eat peaches in winter!
marvin 8y ago
Unless I'm mistaken, you are an accredited investor by default, by US rules, if you are not a US person. I wouldn't give up the possibility of retaining your ownership share just yet.
ghaff 8y ago
So you've made a nice increase and now may have an opportunity to sell out at a premium. Doesn't seem like a terrible outcome. I know you think you know Tesla's prospects better than the market but this could also be a good, if not life-changing, exit at the high point.

hughes 8y ago

What's preventing you from continuing to hold?

marvin 8y ago
If this goes through, Tesla will no longer be listed on the stock exchange, and all those shares will be force-bought at the sale price. There is talk of creating an investment vehicle that allows existing shareholders to retain their ownership after the company has gone private, but there isn't any information yet on how this would affect foreign investors.
- nickik 8y ago
  Elon already said this was not the case. You will be able to continue to hold. Stop spreading a panic when you have no evidence that your story is true.
  - marvin 8y ago
    Can you give a link that corroborates this? Because this was distinctly not my impression after reading Tesla’s press release.
    - hughes 8y ago
      Directly from the press release: > I would like to structure this so that all shareholders have a choice. Either they can stay investors in a private Tesla or they can be bought out at $420 per share[...] My hope is for all shareholders to remain
      - marvin 8y ago
        Yes, I got that part, but "stay investors in a private Tesla" doesn't mean that this will magically happen by default. Depending on how your broker operates, you will at the very least have to sign some documents. I don't know enough US securities law to know what happens with the currently listed shares, but they will probably disappear and be replaced by some other ownership structure. There is also the possibility that your broker won't do the necessary paperwork and will just liquidate your position, or require you to move your shares to a legal entity that can assist you. Granted, they probably wouldn't do this without notifying you. And if you're a non-US person, there are probably issues regarding transfer of shares, potential tax realization and so on. Not to mention the requirement to be an accredited investor, which I'm not sure how Tesla will skirt. There are a lot of open details here. I can see that my initial comment could be misinterpreted, but my point was that "You will be able to continue to hold" is not quite the complete picture.

shawn 8y ago

This can be summed up as “it sucks to be not-rich.” But that’s always been true. Class mobility has been the exception rather than the rule, and I’m not sure there are ways of changing that other than on an individual basis (i.e. starting a startup and winning). A grim outlook, to be sure. But look at the flipside: emperors of old could only dream of the luxuries we enjoy on a daily basis. We can eat peaches in winter!

marvin 8y ago

Unless I'm mistaken, you are an accredited investor by default, by US rules, if you are not a US person. I wouldn't give up the possibility of retaining your ownership share just yet.

ghaff 8y ago

So you've made a nice increase and now may have an opportunity to sell out at a premium. Doesn't seem like a terrible outcome. I know you think you know Tesla's prospects better than the market but this could also be a good, if not life-changing, exit at the high point.