Saudi wealth fund buys $7bn in US stocks, including Starbucks, Zoom and Microsoft
INTERNATIONAL Saudi Arabia’s Public Investment Fund (PIF), which is chaired by Crown Prince Mohammed bin Salman, has bought $7bn of shares in US companies including Starbucks, Zoom and Microsoft. The purchases bring the market value of the sovereign wealth fund's investment portfolio to about $40.8bn at the end of the second quarter. Bloomberg reported that the move echoed the PIF’s strategy in early 2020, when the fund spent billions on stakes in […]
