Has Saudi Arabia Amassed A $2 billion Stake In Tesla

Shares of Tesla surged more than 3% Tuesday after the Financial Times reported Saudi Arabia's sovereign wealth fund had amassed a $2 billion stake in the auto manufacturing company. According to Business Insider, the stake is worth approximately $1.7 billion to $2.9 billion. Saudi Arabia's Public Investment Fund has more than $250 billion in assets that it has amassed over decades of oil exports.