Elon Musk disrupted multiple industries on Tuesday when the Tesla CEO [NASDAQ: TSLA] took to Twitter to float the idea of taking the Silicon Valley automaker private.
Musk mused Tesla could be bought back at $420 per share.
On Wednesday morning, multiple members of Tesla's board of directors signed a statement that confirmed Musk was serious about taking Tesla private.
In a release, board members Brad Buss, Robyn Denholm, Ira Ehrenpreis, Antonio Gracias, Linda Johnson Rice, and James Murdoch said Musk opened the discussion last week.
The statement says Musk "addressed the funding for this to occur" in the conversations.
In the last week, Tesla's board has met "several times" to discuss Musk's proposal and "is taking the appropriate next steps to evaluate this."
On Tuesday morning, Musk emailed a statement to Tesla employees. The statement was released to the public hours after he took to Twitter to float the idea and to offer a rationale.
Musk holds "about 20 percent of the company now," the statement said, and made clear that he doesn't see that changing whether Tesla is private or public.
Musk's tweets caused a flurry of activity in financial markets. Trading of the company's shares were halted for 92 minutes Tuesday afternoon, according to The Washington Post.
Tesla stock closed Tuesday at $379.57.
While Tesla's board of directors might approve Musk's idea of taking the automaker private, current shareholders have the final say.