Saudi fund adds Disney, Facebook to entertainment stocks
The PIF, which owns nearly 6% of Live Nation, bought into the Walt Disney Company, Facebook, Marriott, BP, Boeing and Starbucks in Q1 2020
News By IQ | 25 May 2020
Saudi Arabia’s acquisitive sovereign-wealth fund added investments in leisure and media giants including the Walt Disney Company, Facebook and Marriott International in the first financial quarter of 2020, according to newly revealed US regulatory filings.
According to the Financial Times, the Public Investment Fund (PIF) – which made headlines last month after buying half a billion dollars’ worth of Live Nation shares – spent nearly US$8bn on US and European blue-chip stocks in the first three months of the…
You've used your free article this month
Continue reading with a free account, or subscribe for unlimited access to all of our news, features and reports.
