Elon Musk denies report that Saudi Arabia, UAE intend to invest in SpaceX
An arm of Saudi Arabia’s Public Investment Fund and an Abu Dhabi-based company were reported to be looking to invest in Elon Musk’s SpaceX, according to The Information, which cited people familiar with investor discussions.
DUBAI — Elon Musk, SpaceX's billionaire founder and CEO, denied on Friday the media reports from earlier this week that Saudi Arabia and the United Arab Emirates (UAE) intended to invest in a multibillion-dollar funding round in the company, according to Reuters.
An arm of Saudi Arabia’s Public Investment Fund (PIF) and an Abu Dhabi-based company were reportedly looking to invest in Elon Musk’s SpaceX, according to The Information on Wednesday, which cited people familiar with investor discussions.
Two of the American tech news outlet's sources indicated that SpaceX and Morgan Stanley, the organizers of the ongoing funding round, told investors that Saudi Arabia’s Water and Electricity Holding Company, which is part of Saudi Arabia’s PIF and Alpha Dhabi from the UAE, were involved in the funding round.
But on Friday, Musk tweeted “not true” responding to the report.
