Well, here at FintekNews we are always eager to learn and share relevant stories and thoughts. First, Tencent is NOT a hip hop rapper (who knew?). Second, with a name like Tencent how did they get $1.8 Billion to hand over to Tesla? And for ONLY a 5% stake? Wow! Think we should rename ourselves ‘Twentycent’. In any event, congrats on the investment.
“Tesla Inc said on Tuesday that Chinese tech giant Tencent Holdings Ltd has invested $1.78 billion in the electric carmaker for a 5 percent stake.
Tencent, best known for its WeChat mobile app, has been investing in a number of sectors, including gaming, entertainment, cloud computing and online financing.
Tencent now owns more than 8 million shares in Tesla as of March 24, the carmaker said, making the Chinese company one of its biggest shareholders.