"Yes, might take Tesla private", he said.
The billionaire co-founder of the company took to Twitter on Tuesday afternoon to say he was "considering taking Tesla private at $420". Mr. Musk has a history of joking on Twitter and sending erratic tweets.
Tesla shares, which were already rising on news of the Gulf investor, spiked in response. The company had a market value of $58 billion as of Monday's close.
Mr Musk has previously discussed the drawbacks of being a public company, saying shareholder demands often produce short-term thinking.
Saudi Arabia asks Canadian ambassador to leave
The Canadian Embassy had earlier tweeted and urged the Saudi authorities to immediately release them and all other peaceful human rights activists.
Saudi Arabia's diplomatic dispute with Canada: An explainer
A number of rights campaigners, including award-winning gender rights activist Samar Badawi, have been arrested in the kingdom. Traders said they had received an official notice from the Saudi Grains Organization (SAGO) about its decision.
Manchester United may turn their attention to Bayern's Jerome Boateng
The report claims that Everton have agreed a £28.4m transfer fee and only minor details of the transfer now need to be finalised. It seems extremely likely that Everton will officially announce the arrival of Yerry Mina in the next few hours.
"Funding secured", Musk said on Twitter.
On April 1 this year, Musk tweeted, "We are sad to report that Tesla has gone completely and totally bankrupt". Tesla has always been one of the most-shorted stocks on Wall Street, but so far, the company has not seen the share-price meltdown that shorts expected. I think he's serious.
A short squeeze is a trading scenario that occurs from time to time in heavily shorted stocks, when bearish traders are forced to buy shares to avoid big losses - something that ends up pushing the stock only higher.
He is also under intense pressure to prove he can deliver consistent production numbers for the Model 3 sedan, Tesla's lowest-priced model and the key to its plans to become a mass-market automaker, after a host of manufacturing challenges and concerns it was burning cash too quickly.