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Elon Musk's latest big idea is daring even by his standards: He wants to turn Tesla into a private company.He stunned investors on Tuesday with a tweet saying he had already lined up the funding, and he told employees that it would relieve the electric car company of the "enormous pressure" of Wall Street's expectations.In a letter to Tesla workers that was posted on the company's blog, Musk called his idea the "best path forward.""As a public company, we are subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla, all of whom are shareholders," he wrote.He also said trading its stock publicly "means that there are large numbers of people who have the incentive to attack the company." Musk has complained repeatedly about short-sellers, who profit when Tesla stock drops.Musk, the CEO and largest shareholder, said on Twitter that the private funding valued Tesla at 0 per share. Tesla is already the most valuable automaker in the United States.The early afternoon tweet sent Tesla stock spiking by almost 9%. Trading in Tesla was halted for more than an hour before Tesla posted Musk's letter to employees on its blog. It finished up 11%, at 9.The stock had climbed slightly earlier in the day after the Financial Times reported that Saudi Arabia has quietly built a big stake in the company.At first, Tesla had declined comment on Musk's tweet, even as he casually engaged Twitter followers with more posts about his plans.Musk said that he hoped all current investors would stay with Tesla even if it went private. He said he would create a special fund to allow that. Fidelity, the investment firm, has such a fund for its stake in SpaceX, a separate private company also run by Musk.He pledged to hold on to his stake in the company, about 20%, no matter what. He said he was "super appreciative" of Tesla shareholders, and vowed to "ensure their prosperity in any scenario."Tesla has burned through cash while struggling to produce the Model 3, its lowest-priced electric car. That has driven the stock lower and raised concerns about whether Tesla will need to sell more shares to pay for expansion. Musk has insisted Tesla has no such need.Musk has also clashed repeatedly with critics, especially investors who have taken short positions on the stock, meaning they benefit when the price falls. He clashed with analysts on a contentious call after Tesla reported earnings three months ago.Gene Munster, managing partner at Loup Ventures and a top tech analyst, said the odds that Musk will take Tesla private were about one in three. But he said the idea made a certain amount of sense."Musk does not want to run a public company," Munster wrote on his website. "His mission for Tesla (to accelerate the globe's adoption of sustainable energy) is both grand and long-term, making it difficult to accommodate investors quarterly expectations."It would cost about billion to take Tesla private at 0 per share. Before Musk's tweet, Tesla had a market value of billion, already higher than that of General Motors or Ford, even though those companies are significantly larger and more profitable.In fact, Tesla has turned a narrow profit in only two quarters since it became a public company in 2010. Musk has vowed that the company will start turning a regular profit in the second half of this year.In a 2013 report, the SEC said companies can use social media outlets to announce important information, so long as they comply with regulations and "investors have been alerted about which social media will be used to disseminate such information."The SEC issued that report after Reed Hastings, the CEO of Netflix, used a Facebook post to congratulate Netflix's chief content officer on record-breaking viewership. Netflix stock moved higher as a result.Tesla said in a regulatory filing in 2013 that investors interested in keeping up with Tesla should follow Musk's account.The SEC declined comment on Musk's tweet.Musk has a history of outrageous behavior on Twitter.On April 1, amid rising market concerns about a cash crunch at Tesla, he tweeted an email announcing that Tesla would have to file for bankruptcy. The tweet was apparently an April Fool's joke.Musk also faced intense public criticism after he suggested in a tweet that one of the rescuers of the Thai soccer team trapped in a cave was a pedophile.He later deleted that tweet and apologized for that exchange, but at least one analyst suggested Musk needed to get off Twitter to restore investor confidence in the company.After Musk, the next largest shareholders in Tesla are the mutual fund giants T. Rowe Price and Fidelity, with stakes of more than 9% and 8%, respectively, according to Thomas Reuters Eikon.Scottish money manager Baillie Gifford, which recently urged Musk to focus less on tweeting and more on running the business, is the fourth-largest shareholder, with a nearly 8% stake. Chinese tech giant Tencent owns almost 5%.James Anderson, a Baillie Gifford fund manager who recently called out Musk's tweeting in an interview with Bloomberg, had no comment about Musk's tweets on Tuesday. Fidelity and T. Rowe Price also declined comment.— CNNMoney's Donna Borak contributed to this report.The-CNN-Wire 5277

ESCONDIDO, Calif. (KGTV) -- Authorities are offering a large reward for information leading to the arrest of a suspect accused in an arson attack on a mosque in Escondido. The FBI announced the ,000 reward at a news conference Thursday. The FBI, Bureau of Alcohol, Tobacco, Firearms and Explosives as well as local authorities are investigating the incident. RELATED: Graffiti referencing New Zealand left at Escondido mosque after possible arsonThe arson happened at the Islamic Center of Escondido on West 6th Avenue around 3 a.m. on March 24. A handful of worshipers were inside at the time and were able to extinguish the flames before any significant damage was done. RELATED: Security tight at San Diego area mosques after Sunday's arsonWhen police arrived, they found a message in graffiti referencing the shootings at mosques in New Zealand. 861

ENCINITAS, Calif. (KGTV) — One person is dead after being hit by a vehicle in Encinitas late Saturday.San Diego Sheriff's Department reported just after 8 p.m. the person was struck in the 2500 block of S. Coast Highway 101. The driver involved remained at the scene and deputies do not suspect alcohol or drugs to be a factor.A Sig Alert for S. Coast Highway 101 was issued as deputies investigated. All northbound lanes had been blocked.Anyone with information or who may have witnessed the collision is asked to call SDSO at 858-565-5200. 549

FALLBROOK, Calif. (KGTV) - You could experience a delay in receiving your package from Amazon, due to a carjacking in Fallbrook on Sunday night. According to authorities, the suspect had barricaded a street with trash cans and began yelling at the delivery truck driver. 283

ENCINITAS (CNS) - The Rancho Coastal Humane Society will take in 23 puppies, adolescent, and adult dogs from the Mexican state of Sonora this morning -- the latest in a series of lifesaving transports from Rescue Fenix in Obregon, working hand-in-paw with the humane society and Greater Good Charities."These dogs were rescued from the streets and taken to the Rescue Fenix shelter," said John Van Zante, RCHS spokesman. "They live in outdoor colony kennels. The puppies and smaller dogs compete for food with every other dog. Many of them would not survive if they were not taken in by Rescue Fenix then transferred out of there."The dogs began their 17-hour ride to Tijuana early Friday morning. They crossed the border early Saturday morning and then got some rest at the home of a Rescue Fenix volunteer in Escondido.The dogs are scheduled to be transferred to RCHS in Encinitas on Saturday morning. Rescue Fenix volunteer Georgina Parsa, who lives in Escondido, will complete the transfer."Our Medical team will perform examinations before the dogs are settled into their new kennels with food, water, and their first soft bedding," said Judi Sanzo, RCHS president. "Some of them will go into foster care with trained RCHS volunteers. In the coming days the dogs will receive more extensive exams, vaccinations, medical treatment including spay or neuter, and each dog will be micro chipped before becoming available for adoption."Sanzo said the relationship between Rancho Coastal Humane Society and Rescue Fenix is new, but it's already proven successful."From the first transfer, we were told that the dogs and puppies who arrived here would not have survived if we had not taken them. That's how important this is. Together -- we save lives," Sanzo said.For more information about Rancho Coastal Humane Society's adoptions visit www.sdpets.org or call 760-753-6413. 1882