According to a media report, financiers from Saudi Arabia and the United Arab Emirates (UAE) want to invest in Tesla founder Elon Musk’s aerospace company SpaceX.
A unit of the Saudi Arabian Investment Fund and an Abu Dhabi-based company are planning a multibillion-dollar investment, tech news site The Information reported Wednesday, citing people familiar with the matter.
The financing round increases the value of the American rocket manufacturer to around USD 140 billion (129.92 billion euros). SpaceX and representatives of the mandated bank Morgan Stanley have therefore informed investors that the Saudi Arabian Water and Electricity Holding Company, which belongs to the country’s sovereign wealth fund, and Alpha Dhabi of the UAE are involved in the financing round.
SpaceX, the Saudi Arabian Investment Fund and Alpha Dhabi did not immediately respond to a request for comment.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
