by ROCKMAN » Sun 20 Aug 2017, 16:45:07
Doc - It is amazing how many people buy into the BS that the KSA is "broke". In addition to your post last time I saw the figure it had $700 billion in its sovereign fund. And is spreading those investments around the world:
"Saudi Arabia’s sovereign wealth fund plans to invest $65bn with foreign asset managers, underscoring the dramatic transformation under the leadership of Mohammed bin Salman, the country’s powerful deputy crown prince.
Saudi’s Public Investment Fund is to place $20bn with Blackstone, the alternative asset manager, becoming the anchor investor in a new $40bn infrastructure fund that will focus on upgrading US assets. The PIF at the weekend also finalised plans to commit $45bn to a new $90bn technology investment fund to be managed by SoftBank, the Japanese tech-to-telecoms conglomerate led by Masayoshi Son, its billionaire founder."
Yep, $100 BILLION here, $100 BILLION there and eventually it could add up to a lot of money. LOL.
I think folks get confused when they read the KSA has a budget deficit. That's just an accounting issue due to a change in revenue as a result of lower oil prices. That has nothing to do with the fact that the KSA has a sh*tload of money.