Chinese Fintech Firm Invests Nearly $2B in Tesla

Tesla
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.
(Bill Taylor/CEO)

“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.

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Tesla’s shares were up 1.7 percent at $274.76 in premarket trading on Tuesday.”Source:

Tencent invests $1.8 billion in Tesla for a 5% stake