Saudi Arabia bought shares in Tesla

Саудовская Аравия купила акции Tesla

The money the country has spent on the deal, owned by sovereign wealth Fund Saudi Arabia – public investment institution.

This year Saudi Arabia bought by different estimations, from 3 to 5% of Tesla shares. This made the state one of the largest shareholders of the manufacturer of electric vehicles. The transaction value is estimated at $2-3 billion, the Financial Times reports.

The money the country has spent on the deal, owned by sovereign wealth Fund Saudi Arabia – public investment institution.

It is noted that thus the country continues the strategy of transition of the economy from oil dependence.

Previously the founder and CEO of Tesla Elon Musk announced plans to make the company private, buying it for $68 billion.

It was reported that Tesla finished the second quarter with record losses.

 

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