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Their sovereign wealth fund is currently sitting at $700M. The Aramco IPO will hardly be the only contributor on the way to $2T.
by dwaxe 11y ago
Their sovereign wealth fund is currently sitting at $700M. The Aramco IPO will hardly be the only contributor on the way to $2T.
- pliny 11y agoAramco represents more than half of Saudi Arabia's GDP, and at best they should be able to net $0.5T by selling 5%. How do they find another $1.5T? $700M is 0.05% of that.
- auntienomen 11y agoThis is either a typo or an English-American collision. The SA wealth fund is sitting on 0.7 trillion dollars.
- cmdkeen 11y agoTypo in the parent - their Sovereign Wealth fund has assets of ~$700 billion. Though they've been using it heavily to prop up state spending with the collapse in the oil price and war in Yemen.