With everything going on in 2020, it can be easy to ignore one of the biggest storylines that has been somewhat quietly developing–namely, the Public Investment of Saudi Arabia has been aggressively buying up large ownership stakes in many American and British corporations.
Specifically, in 2020, Saudi Arabia’s investment arm has made the following acquisitions: $828 million in BP stock, $714 million in Boeing stock, $523 million in Facebook stock, $522 million in Citigroup, $514 million in Marriott stock, $496 million in Walt Disney, $491 million in Cisco, $484 million in Royal Dutch Shell stock, $481 million in Suncor Energy stock, $416 million in Live Entertainment, $408 in Canadian Natural Resources stock, and a hodgepodge collection of sub-$100 million investments in Berkshire Hathaway, Qualcomm, Pfizer, IBM, Starbucks, ADP, and Union Pacific. In addition, the Saudi Investment Fund purchased Newcastle United (you know you’re in strong financial shape when a professional … Read the rest of this article!