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The Saudis' Giant Wealth Fund Sold Almost All Its Tesla Shares Before Epic Surge
- Public Investment Fund had been among the five biggest owners
- Musk’s ‘funding secured’ explanation upset Saudi officials
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Saudi Arabia’s sovereign-wealth fund sold almost all of its Tesla Inc. shares last quarter, nearly exiting what had been one of the largest holdings in the electric-car maker.
The Saudi Arabia Public Investment Fund held just 39,151 shares at the end of the year, according to a regulatory filing. The fund previously had more than 8.2 million shares and ranked among the five biggest owners, according to data compiled by Bloomberg.