Elon Musk And The $420 Buyout Figure?
- 6 years ago
According to Automotive News, Elon Musk’s reason for offering a $420 a share buyout figured is simple … Karma.
In an interview with the New York Times, Musk said that he wanted to offer roughly a 20% premium over where the stock had been trading, which was $419. So, he decided to round up to $420.
As a number, 420 has long been code for marijuana in counterculture lore, and it seemed better to Musk:
It seemed like better karma at $420 than at $419, but I was not on weed, to be clear.