Open source
Sovereign wealth fund owned by Saudi Arabia, The Public Investment Fund (PIF), plans to significantly increase its part in the Tesla Inc. This is reported by Bloomberg news agency.
As of August 13, the share of the Sovereign Fund of Saudi Arabia in Tesla is 5% (Elon Musk itself owns almost 20% of the company and is its largest shareholder – ed.). But the media reported that in the near future PIF plans to participate in a major transaction, the cost of which may amount to USD 82 billion.
It is noted that the fund makes its investments in Tesla as a strategic way for the world’s largest oil producer, who wants to diversify its revenues from oil production.
As The Journalist reported earlier, Elon Musk has apologized to investors for the record losses of Tesla.
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