Musk confirmed the talks with Saudi Arabia on the purchase of Tesla stock

Маск подтвердил переговоры с Саудовской Аравией о выкупе акций Tesla

Elon Musk in talks with a Saudi Fund, and other investors. Businessman wants Tesla had a wide number of investors.

The founder of Tesla Elon Musk confirmed that leads with the sovereign wealth Fund Saudi Arabia Public Investment Fund (PIF) negotiations to purchase shares of the company. About this businessman said on Monday, August 13, in his blog.

According to him, he continues to negotiate with the Fund, but at the same time is negotiating with several other investors. As noted by Musk, he wants to Tesla was a wide number of investors.

The businessman also said that for nearly two years Sovereign Fund Saudi Arabia talks about how to make Tesla not public and a private company. The first meeting took place in early 2017, there were a few in which the Saudis have confirmed their interest.

Musk emphasized that the Fund has “more than enough resources to implement such transactions”.

The day before Bloomberg reported that PIF is conducting talks with Tesla about increasing its stake in the company. The Fund owns 5% of Tesla stock. PIF seeks to diversify their investments and to hedge risks in the oil market. On 7 August, Musk tweeted that the company can turn from public to private when the value of its shares at $420 per share.

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