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Elon Musk has secured significant deals in Saudi Arabia, including a partnership for Starlink to provide internet services to maritime and aviation sectors, and a $1.23 billion refinancing for X Corp. with the help of Kingdom Holding Company. This reflects a growing collaboration between Musk and Gulf investors, despite past tensions over Tesla and the Saudi sovereign wealth fund's involvement. Additionally, Musk's ventures have attracted investments from various Middle Eastern countries, enhancing his influence in the region.
Elon Musk announced that Saudi Arabia has approved Starlink for aviation and maritime use during an investment forum. He also expressed plans to introduce Tesla robotaxis in the kingdom and showcased Tesla's Optimus humanoid robots to President Trump and Crown Prince Mohammed bin Salman.
Saudi budget airline flynas plans to sell a 30% stake in an IPO on the Tadawul stock exchange, aiming to capitalize on growing investor interest in Gulf aviation. This move aligns with Saudi Arabia's Vision 2030 goals to diversify the economy and boost tourism, as the airline targets a fleet expansion to 160 aircraft by 2030. Flynas, profitable since 2015 (excluding 2020), reported SAR 6.3 billion in revenues for 2023, marking a 32% increase year-on-year.
Al Waleed bin Talal Al Saud
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musk secures deals with saudi investors for starlink and x corp refinancing
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14:22 14.05.2025
Elon Musk announces Starlink approval for aviation and maritime in Saudi Arabia
Kingdom Holding Company
SAU
USA
Jensen Huang
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Al Waleed bin Talal Al Saud
Elon Musk
Mohammed Bin Salman Bin Abdulaziz Al Saud
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17:09 13.05.2025
flynas to launch 30 percent IPO amid Gulf aviation expansion efforts
09:21 31.03.2025
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