Tesla Inc (TSLA)

[XFundManager]

Saudi Arabia investing over 1.7 trillion in Tesla !!


Spending on electric cars is a great way to diversify an economy built on the back of Big Oil.

But, according to Musk, who recently made news when he talked and tweeted about taking Tesla private, the investors controlling Saudi Arabia's sovereign wealth fund have approached him multiple times since the beginning of last year. Most recently at a meeting on July 31 which, according to his blog post, Musk left “with no question that a deal with the Saudi sovereign fund could be closed, and that it was just a matter of getting the process moving." (Whether that counts as “funding secured,” as he tweeted on August 7, is a question Securities and Exchange Commission regulators are looking into.)