The sovereign wealth fund of Saudi Arabia is exploring a way to be a part of taking Tesla private, a Bloomberg report states.

Recently, Tesla CEO Elon Musk tweeted he was considering taking the company private and had secured funding for the same. Saudi’s sovereign fund - Public Investment Fund - had built nearly five percent stake before Musk’s tweet.

Musk said the company will be taken private at $420 per share. While the entrepreneur owns 20 percent of Tesla, more than $60 billion would be needed to buy the business from public shareholders. The potential transaction’s staggering $82 billion price tag (including debt) means the Saudi fund wouldn’t be able to help take the company private on its own.

However, Reuters reports that PIF has shown no interest so far in financing Musk’s proposed $72 billion deal to take the US electric car maker private.

Tesla’s board revealed they will be discussing the proposal to take the company private with investors this week. Directors will probably tell Musk to recuse himself, according to CNBC, and they’ve told him to hire his own separate advisers

Musk is interested in having a wide pool of investors rather than few stakeholders. Sources said he is canvassing other potential investors including asset managers.

Musk’s tweet announcing the deal shocked investors. He is yet to back up his claim that he has financing for the transaction. The US Securities Exchange Board has questioned the authenticity of Musk’s tweets. At least two investors have sued Musk and Tesla alleging share-price manipulation.

Tesla had burned through $ 739.5 million in cash in the second quarter and Musk had assured that the company will post a profit in the next quarter.

Musk had discussed going private with SoftBank CEO Masayoshi Son last year but the duo failed to come to an agreement regarding ownership of the company. SoftBank said it won’t be a part of the current group of investors that will try and take Tesla private as it has already invested in General Motors, increased competition facing the company, and due to Tesla not being able to deliver on its mass market ambition, Bloomberg reported.

Public Investment Fund of Saudi Arabia was founded to invest on behalf of the government. The Saudi government is trying to diversify the country’s economy which is dependent on oil. The Saudi fund hasn’t made any firm decisions on whether to increase its stake, or by how much, but talks are ongoing, sources told Bloomberg.