Oracle’s Larry Ellison reveals $1-billion stake in Tesla

Tesla boss Elon Musk has been offered a "green card", China said on Thursday, a privilege enjoyed by an elite group of foreigners, including several Nobel laureates and a former National Basketball Association star.

Two days after Musk appeared at a muddy groundbreaking ceremony for his newest gigafactory, China's Premier Li Keqiang met with the billionaire-entrepreneur in Beijing and said he hopes Tesla's CEO can do both.

"I love China and want to come here more often", Musk said, according to a transcript of the meeting, which took place Wednesday.

USA electric carmaker Tesla Inc. on Monday broke new ground with its Shanghai factory, becoming the first to benefit from a new policy allowing foreign carmakers to set up wholly-owned subsidiaries in China.

"If this is what you truly have in mind, we can give you a "Chinese green card", Li replied, according to a government readout seen by the South China Morning Post.

Once an extremely lofty goal to aspire to, Chinese permanent resident permits have now become easier to obtain. That's about equal to the number given out in all of 2017.

The Q4 2018 number was 8 percent higher than in the previous quarter, with the Model 3 booking the largest increase in deliveries, from 55,840 in the third quarter, to 63,150 in the final quarter of past year.

Members of this club, according to the paper, include Dutch scientist Bernard Feringa, who won the 2016 Nobel Prize in chemistry, former National Basketball Association all-star Stephon Marbury, and Nobel-winning economist Robert Mundell.

Ellison is worth just shy of $60 billion and according to Tesla's filing his personal investment now stands at a billion dollars.

Vanessa Coleman

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