Saudi sovereign wealth fund, Public Investment Fund, normally known as PIF, has built a $2 billion stake in Tesla, Financial Times has reported.
The stake according to ‘people familiar with the matter’ quoted by Financial Times is between 3 to 5 percent of Tesla’s share, which at company’s current share price could be valued between $1.7 billion to $2.9 billion.
The report further said that this makes PIF one of the eight biggest shareholders of the Elon Musk’s electric vehicle company.
PIF also owns $3.5 billion worth of stake in Uber that it had acquired in 2016. It’s most recent disclosed investment in a US-based startup was the $400 million it invested in augmented reality startup Magic Leap earlier this year.
The sovereign wealth fund is also known for the being the biggest backer of Softbank’s $93 billion Vision Fund.
- Saudi’s Orbii raises $3.6 million in Prosus-led seed to help banks and fintechs launch SME lending - September 8, 2025
- Egypt’s TradeHub shuts down, returns remaining capital to investors after failing to achieve product-market fit - September 7, 2025
- Dubai’s WheelsOn raises $12.5 million in debt and equity for its deposit-free car rental platform - September 7, 2025
