Saudi State Fund Takes Interests in Disney, Boeing and Facebook
Saudi Arabia’s sovereign wealth fund has taken hundreds of millions of dollars of interest in a series of large US companies to capitalize on the downturn in stock prices due to the corona crisis.
These include entertainment and media concern Walt Disney, social media giant Facebook and aircraft manufacturer Boeing.
The Saudi public investment fund (PIF) has assets under management of more than $ 300 billion.
The fund also joined hundreds of millions with major US banks Citigroup and Bank of America, as well as Marriott International hotel chain and concert promoter Live Nation Entertainment.
It also appeared that the PIF also took an interest in the British oil and gas group BP for almost $ 828 million.
Last month it was announced that the Saudis had bought share packages in the major European oil companies Shell, Total, Eni and Equinor.