In a surprising announcement, Tesla CEO Elon Musk has revealed his consideration of taking the electric car company private. This move, if pursued, would see Tesla’s shares delisted from public stock exchanges, removing it from the scrutiny of quarterly earnings reports and shareholder expectations.

Musk’s decision to contemplate taking Tesla private stems from his desire to pursue long-term goals without the constant pressure of short-term financial results. In a tweet, Musk stated, “I’m considering taking Tesla private at $420 per share. Am considering taking Tesla private at $420. If you are supporting this, please let me know.”

Musk’s proposed privatization would involve acquiring all outstanding Tesla shares at a price of $420 per share, valuing the company at approximately $70 billion. This price represents a significant premium over Tesla’s current market value, which has fluctuated considerably in recent months.