Saudi Arabia May Be Planning Bid For Tesla Buyout


Gizmodo reports The official sovereign wealth fund of the Saudi Arabian government may be considering a major investment in Elon Musk’s electric car giant Tesla,. Sources say it is “in talks” to do so after Musk let slip via Twitter that he is considering taking the company private in a $60-billion-plus deal at $420 a share. According to the report, Saudi Arabia’s Public Investment Fund has already built up a 5 percent stake in the company and is trying to expand that share dramatically.