Saudi Arabia builds Tesla stake worth up to $3.2 bn: Report
Saudi Arabia's sovereign wealth fund, overseen by Crown Prince Mohammed bin Salman, has built an undisclosed stake of 3-5% in Elon Musk-led carmaker Tesla, reports said. After Tuesday's jump in Tesla's share price, the position was worth $1.9-$3.2 billion. The fund, which has over $250 billion in assets, reportedly approached Musk about buying newly issued shares but Tesla declined.