Naspers-owned Tencent buys 5% of Elon Musk’s Tesla

Tencent – China’s most valuable company – has bought 5% of South African-born Elon Musk’s Tesla.

Naspers – South Africa’s most valuable company – owns 34% of Tencent.

Tesla’s share price immediately shot up by 3% after the news broke.

The value of Tencent’s shares in Tesla is now worth about R28 billion.

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