Tesla has a big, new investor — and it hails from the Middle Kingdom.
Tencent Holdings — a Chinese tech giant that invests in everything from social media to video games — just revealed a 5-percent stake in Elon Musk’s electric-car company.
Tencent, controlled by billionaire power broker Pony Ma, disclosed its 8.2-million share stake, worth $1.78 billion, in a Tuesday filing. The fresh investment makes Tencent Tesla’s fifth largest shareholder.
Earlier this month, Tesla said it had raised nearly $1.2 billion in common shares and convertible debt to fund the ramp-up of its mass-market Model 3 electric car.
Billionaire Musk — who has warned investors that the Model 3 launch later this year will push Tesla’s finances “close to the edge” — is Tesla’s top shareholder, with a stake of about 21 percent as of Dec. 31.
Tesla’s stock was up 2.3 percent at $276.41 in early-morning trading on Tuesday.
Tencent is best known in China for its dominant WeChat app, which gets used for everything from playing games to mobile payments to ride sharing.


