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tl;dr: They plan to launch the world's largest sovereign wealth fund ($2 trillion in assets) via an IPO for 5% of Aramco, and diversify into nonpetroleum assets
by joeyspn 11y ago
tl;dr: They plan to launch the world's largest sovereign wealth fund ($2 trillion in assets) via an IPO for 5% of Aramco, and diversify into nonpetroleum assets.
I guess this signals interesting times ahead for tech, biotech, and clean energy entrepreneurs in S.A.
- azazqadir 11y agoAlso, real estate.
- bayesian_horse 11y agoI certainly wouldn't want to live in Saudi Arabia. And I wouldn't recommend any one else to relocate there, especially women.
- venomsnake 11y agoIt will fail. Money will be embezzled, it will be captured by power brokers, contracts will be given to OUR people. Even if the prince is sincere. Look at the corruption that EU projects have ...