It is not clear if PIF is interested in financing Musk's proposed take-private deal.
Public companies have four days to report certain material events that shareholders should know about to the US Securities and Exchange Commission.
"If the tweet was false, the liability could be in the billions of dollars", he said Thursday.
The SEC and Tesla declined Business Insider's requests for comment.
The initial tweet sent the stock market in a frenzy, as Tesla stocks made a gradual rise.
For Musk personally, as Tesla's CEO, going private must be extremely enticing.
Shares of Tesla have rolled over and given up their more-than-10% gains from Tuesday, when CEO Elon Musk tweeted that he was considering taking the company private at $420 a share.
Like Musk's tweet and email to employees, the directors' statement didn't contain details on how the buyout would be financed.
"When Musk tweeted this, was he saying this was something that was definitely going to happen?"
Institutions negotiate a set price for the stock with SpaceX based on criteria such as the rocket company's financial performance and market conditions, Prasad said.
Musk has also said he would be looking to keep his ownership of Tesla at around 20 percent, and that a special objective vehicle, like the one that exists at his aerospace company SpaceX, would allow Tesla shareholders to remain invested if they so choose.
"The short-sellers right now might be smelling blood in the water", he added.
Musk, who normally doesn't shy away from social media, didn't tweet about the subject Thursday. "Oh and uh short burn of the century comin (sic) soon", he wrote. Musk said via Twitter on Tuesday that the deal was contingent on a shareholder vote but that "investor support is confirmed".
The hedge funds betting on a slump in the Tesla share price are holding their nerve amid mounting scepticism that Elon Musk can muster the $82 billion he will need to take it private. SEC enforcement attorneys in San Francisco have begun gathering information on Tesla; however, this could end up leading to nothing.
Some of the fervor for a Tesla buyout faded Wednesday.
The six board members who issued the statement on Wednesday included James Murdoch, chief executive of Twenty-First Century Fox Inc and Brad Buss, who was the chief financial officer of solar panel maker SolarCity until it was bought by Tesla in 2016.
"What investors are waiting for is more details around what is meant when Elon Musk says funding is secured", George Galliers, an analyst at Evercore ISI who rates Tesla the equivalent of a hold, said on Bloomberg Television. And if I learned one thing in my 13 years as a public company CEO, it is that a peer group comparable company analysis is the oxygen that mutual fund managers breathe. Tesla lost another $717.5 million in its most recent quarter. The company has been pushing the company and its employees to its limit to reach its production goals for the Model 3 as many people have started to cancel their orders after not receiving their cars which they had booked over two and half years ago. "I am not sure it is beating him down, but I am sure he is sick of it".
Tesla needs cash for its $2 billion factory in China, to open more stores and to pay off the debt that's coming due in the next eight months.
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