Saudi Arabia’s sovereign wealth fund on Friday revealed that its recent push into U.S. investments includes stakes in the Walt Disney Co., Facebook, Starbucks and others.
In a filing with the Securities and Exchange Commission, the country’s Public Investment Fund recently bought more than 5 million shares in Disney for just under $500 million, and more than 3 million Facebook shares for more than $520 million. Both stakes are less than a fraction of a percent but illustrate the fund’s increasing interest in having a position in the U.S.
Saudi Arabia’s PIF also bought stakes in Starbucks, Bank of America, Berkshire Hathaway, Qualcomm and Uber, among others. The fund has been on a spending spree in recent months, as the novel coronavirus pandemic continues to issue a beating on U.S. companies.
The Public Investment Fund, led by Crown Prince Mohammed bin Salman, controls more than $300 billion in assets and has invested in other American companies like Tesla. The fund’s portfolio now totals more than $10 billion in U.S. holdings.thewrap Saudi Arabia’s Public Investment Fund Buys Stake in Disney, Facebook