Re: Saudi money
I have been called in to help on a big NYT investigation into how low oil prices have been effecting the personal finances of royal family in Saudi Arabia. Obviously they called in much of their cash from the likes of BlackRock and others but I thought you might have some ideas. Maybe some people to talk to?
I would think its more than cutting down on yachts and private planes or selling real estate in Paris, Istanbul, London.
Any thoughts?
PS: does my story on Abraaj get me a meeting with Gates next time he is in town:)
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Landon Thomas, Jr.
Financial Reporter
New York Times
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http://topics.nytimes.com/top/reference/timestopics/people/t/landon_jr_thomas/index.html
words that you to refer to one thing, USA. the stock market / the Royal family, , are no longer very useful. In politics the USA meant the white house. now there is pentagon. cia, state, and congress in addition, each feels empowered to act more independantly. stock market even in tech, needs bio tech, consuner tech. infrastrucrue tech. etc. same with Royal family, there are 20k members of a tribe. called the royal family, the words are misleading. if your article is focused on bin salman, or the very top. no one is wondering where they can find the local costco.. but they are aware that a message needs to be sent to their population, regarding the next 20 years, social media, and the selfie crowds post the best of everything, their cutest pictures the amazing food, the luxury resorts. the masses see these things and as the difference between expectations and reality widen, the anger grows. trump has tapped in.
with the passage of the 9 11 saudi bill, unlike the french revolution where it was the people of france that revolted against their own aristocracty, with the internet and globalization of discontect it is now the americans that can revolt against the saudi leadership. it is the americans that are demanding women drive. not the saudis
Interesting. CEO of big finance form told me that Saudis (SAMA) have withdrawn $200 billion that has been parked with usual suspects over past year or so. That number seem in line with what you know?
most of the saudi money is tied up in pe funds. no withdrawals allowed. and im not seeing much in the secondary market. . blackrock is more money market, more like custodian than investor.
what is your back of the envelope guess as to much saudi money tied up in such funds?
sorry, no good handle without digging
I have spoken to a lot of ceos of fund outfits who say Saudis have been pulling billions of dollars in separate account money -- not just from BR. And plus I cant believe they would have so much tied up in lock ups.
number
A new guy for your stable of smart guys. He taught at SAIS in DC where I went in 1989. I was just down there a few weeks ago and was on a panel with him. He is vicious on Bill C's NATO expansion -- biggest foreign policy error since WWII. Retiring. Let me know if you want an intro -- I am sure that your Russian friends would enjoy talking to him. Book well worth reading...