It looks like Saudi Arabia’ sovereign wealth fund might have had a role behind Elon Musk’s decision to take Tesla private.
In a blog on Monday, Musk wrote that Saudi Kingdom’s Public Investment Fund’s managing director nudged Musk about why Tesla was not yet private in a July 31 meeting. The Fund had approached Elon Musk with a similar suggestion almost two years back. Not too long after the July 31 meeting, Musk tweeted on August 7 about wanting to go private with Tesla and confirming that he had “funding secured” at $420 per share.
Musk also confirmed that the Saudi Arabia fund has invested in almost 5% stake in Tesla.