Taking up stake: A car passes by Tesla factory in Buffalo, New York. The Public Investment Fund built up a less-than 5 stake in the electric carmaker in recent months. — Reuters
DUBAI: Saudi Arabia’s purchase of a stake of about US$2bil in Tesla Inc is only the latest high-profile investment by its sovereign wealth fund since 2016.
The Public Investment Fund (PIF) built up a less-than 5% stake in the electric carmaker in recent months, according to a person familiar with the matter, just as Elon Musk considers taking the company private.
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