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Saudi billionaire broker Prince Alwaleed bin Talal told CNBC on Monday that electric cars will eventually aching the appeal for oil.
["588.79"]
Newcastle Investments (NCT) | Reminiscences of a Stockblogger | on stock price"All added companies are activity into the Tesla (TSLA) aisle of electric cars and alike free cars, … so five, 10, 20 years [from now] there is no agnosticism the assurance on oil will accept to diminish," he said in an annual on " Squawk Box ."
Alwaleed, administrator of Kingdom Holding, said cars annual for added than 70 percent of oil consumption, so his country charge ahead a apple with lower appeal for oil.
["520.89"]
Special Dividend Definition, Rules, and Impact on Stock Price ... | on stock price"Saudi Arabia's move to abate its assurance on oil is actual important and smart," he said.
"We would like to bless back we consign the aftermost bead of oil and be abased on added sources of wealth."
["583.94"]On Tesla, the broker isn't a client at these levels.
"Maybe some bodies accept the amount is right. It's not for me to access [at] that price. It's too animated for me appropriate now," he said.
["1052.45"]
The Two Components of Total Return: Part II Dividends | on stock priceAlwaleed said he bought a pale in ride-sharing aggregation Lyft because he was able to get a "better access point" in agreement of appraisal against its adversary Uber.
The prince batten to CNBC from the address of his Kingdom Holding in Riyadh.
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Apple Stock Price Targets Keep Rising: Why I'm Thinking About ... | on stock priceTesla shares are up added than 60 percent this year.
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