Elon Musk invited to attend investment summit in Saudi Arabia
Reuters has indicated that Tesla CEO Elon Musk has been invited to a Saudi-U.S. investment forum in Riyadh, the capital of Saudi Arabia. The event is expected to be held on Tuesday.
As per Reuters, the upcoming investment forum is expected to be attended by some of the most distinguished people in the investment world. These include the CEOs of high-profile companies such as Blackrock, Citigroup, IBM, Boeing, Delta Airlines, American Airlines, and United Airlines, among others, the publication noted.
Considering the other attendees of the event, Elon Musk would likely fit right thanks to his leadership of companies like Tesla, SpaceX, and xAI, as well as his close ties with the Trump administration through his work at the Department of Government Efficiency (DOGE).
Considering the other attendees of the event, Elon Musk would likely fit right thanks to his leadership of companies like Tesla, SpaceX, and xAI, as well as his close ties with the Trump administration through his work at the Department of Government Efficiency (DOGE).
My Take:
The trip implies more business opportunities for Tesla and SpaceX in Saudi Arabia. As of yesterday closing market, Tesla share price is +26.1% for 1 month and regained the 1 trillion market cap title. But some media is still sharing the stock is doing badly which may be politically motivated by the extreme leftist democrats. The political backslash is due to Elon Musk's role in DOGE which is responsible for revealing Biden administration fraud, wastage and inefficiency in managing public funds.
Related article:
Tesla is above a $1 trillion market cap again.
Tesla is above a $1 trillion market cap again.
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