Saudi Arabian sovereign wealth fund acquires significant stake in Tesla shares

[Saif al-Arab]

Saudi sovereign wealth fund acquires significant stake in Tesla shares

Tesla shares later jumped further after a tweet from Musk's verified Twitter account, which mentioned taking the company private. (Tesla)

Staff writer, Al Arabiya English
Wednesday, 8 August 2018

Saudi Arabia's sovereign wealth fund has acquired a significant position in Tesla shares, according to the Financial Times.

The media outlet said the Saudi's Public Investment Fund bought a 3 percent to 5 percent stake in the electric car maker, according to people with direct knowledge of the matter.

The stake is worth $1.9 billion to $3.2 billion at the company's current share price.

Reuters later confirmed the Saudi fund bought a stake "at just below 5 percent" of the company, according to a source familiar with the matter.

Tesla shares later jumped further after a tweet from Musk's verified Twitter account, which mentioned taking the company private.

(With Agencies)

https://english.alarabiya.net/en/bu...quires-significant-stake-in-Tesla-shares.html

Great stuff.

 

[Saif al-Arab]

https://twitter.com/x/status/1028280408620904448

https://www.cnbc.com/2018/08/11/sau...interest-in-teslas-idea-of-going-private.html

 

[Nile-Tiger]

WOW

Saudi Arabia always have a lot of surprises... And the concentration on Economic development, and technology and research is really hitting significant and eye-catching levels

With all the work in agriculture and power projects and mining and manufacturing, backed with serious intention in establishing and boosting scientific research, we are looking up for a real giant here in the middle East.

 

[Saif al-Arab]

WOW

Saudi Arabia always have a lot of surprises... And the concentration on Economic development, and technology and research is really hitting significant and eye-catching levels

With all the work in agriculture and power projects and mining and manufacturing, backed with serious intention in establishing and boosting scientific research, we are looking up for a real giant here in the middle East.

Yes, great things are occurring already and much more is to come, bro. It's just the beginning. Insha'Allah we will see development in every single Arab country on all key areas. Preferably joint development.

 

[gangsta_rap]

you forgot to mention how this all relates to the baghdad battery of the past and how its a continuation of ancient superior Semitic (CRADLE OF CIVILIZATION) magick science

 

[Saif al-Arab]

https://www.reddit.com/r/path%3D%252Fr%252Fwallstreetbets%252Fcomments%252F9768xa%252F

 

[Yaseen1]

control of company will remain in u.s hands and saudis are only limited to investing and buying shares and technology transfer to saudia is highly unlikely to occur

 

[BHarwana]

The title is not telling the actual story.
Actually Saudis saved Tesla from current crisis.

 

[The Accountant]

Yes, great things are occurring already and much more is to come, bro. It's just the beginning. Insha'Allah we will see development in every single Arab country on all key areas. Preferably joint development.

Guys Saudi should get into management to get the real benefit, below 5% investment means you can insert one or 2 directors at max, but the real achievement would be to transfer manufacturing to KSA. Good job

 

[HariPrasad]

Smart Decision. Well done.

 

[HannibalBarca]

Good Move.
Let's hope they push for a Gigafactory in KSA... Investing is good... But having a hand in it is better...