A fundraising round values Musk's tunnel company at 23 billion dollars
Article excerpt
Highlighted: the sentence this signal was extracted from
Elon Musk's tunnel construction company, The Boring Company, has raised 3 billion dollars in a new funding round and is now valued at 23 billion. This funding round was led by the United Arab Emirates and some of their investment funds. Other entities, already shareholders or new participants, followed. The amount raised is intended to develop more than 150 km of tunnels across the United Arab Emirates, as an extension of the 'Dubai Loop' project currently under construction. According to The Wall Street Journal, the fundraising is accompanied by guarantees of local hires and access to government authorities: if these are not respected, The Boring Company will be able to buy back a portion of the shares. Elon Musk confirmed this information. The Boring Company's 'loops' are underground tunnels for Tesla's autonomous electric cars, also owned by Musk. A handful of them have been, or are being, built in the United States and Dubai. The new pension bonus is attractive: more and more Belgians work after 66 years old The new pension bonus is attractive: more and more Belgians work after 66 years old What part of your legal pension will you lose by stopping work earlier? 'Here's how many euros you will lose every year' What part of your legal pension will you lose by stopping work earlier? 'Here's how many euros you will lose every year' Internet in student housing: are student...
Keep reading with a free account
The rest of this article, and every signal for Boring, is in your free account.