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Aug 12, 2018

Saudi Fund in Talks to Invest in Tesla Buyout Deal

Posted by in categories: business, Elon Musk, sustainability, transportation

While Elon Musk owns 20% of Tesla, more than $60 billion would be needed to buy the business from public shareholders.


Saudi Arabia’s sovereign wealth fund is in talks that could see it becoming a significant investor in Tesla as part of Elon Musk’s plan to take the electric car maker private, according to a person with direct knowledge of the fund’s plans.

The Public Investment Fund, which has built up a stake just shy of 5 percent in Tesla in recent months, is exploring how it can be involved in the potential deal, the person said on condition of anonymity. Discussions began before the controversial Aug. 7 tweet by Musk, who is Tesla’s co-founder and chief executive officer, saying he was weighing a plan to take the company private.

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