Saudi Public Investment Fund acquires shares in Amazon, Google, Uber
The sovereign wealth fund led by the crown prince has shown a strong interest in technology such as video games.
Saudi Arabia’s sovereign wealth fund has invested hundreds of millions of dollars in several US companies, according to a new filing. The Gulf kingdom continues to aggressively pursue economic diversification with its investments.
The Public Investment Fund revealed the following holdings via stock shares, among others, according to a US Securities and Exchange Commission filing from yesterday:
- $464 million in Alphabet, which owns Google
- $432 million in Amazon
- $451 million in the controversial investment firm Blackrock
- $433 million in JPMorgan Chase
- $474 million in Meta, which owns Facebook
- $473 million in Microsoft
- $492 million in PayPal
- $482 million in Starbucks
- $1.4 billion in video game developer Take-Two Interactive
- $1.5 billion in Uber
- $96 million in Walmart
The filing was made yesterday, but is dated to June 30. The US stock market has fallen significantly this year.
Why it matters: The Public Investment Fund is led by Crown Prince Mohammed bin Salman, who is spearheading the kingdom’s efforts to diversify and reduce dependence on oil.
