Lots of SA in the news recently
Prince Alwaleed Buys A 2.3% SNAP Stake, As Snapchat Users Shrink For The First Time Ever
https://www.zerohedge.com/news/2018-08-07/snapchat-users-shrink-first-time-ever-prince-alwaleed-buys-23-stake
and
The FT reports that Saudi Arabia’s sovereign wealth fund has built a significant stake in Tesla - the latest bold bet by the state fund overseen by powerful crown prince Mohammed bin Salman.
Saudi’s Public Investment Fund (PIF) built the undisclosed stake of between 3 and 5 per cent of the electric vehicle maker’s shares this year, according to people with direct knowledge of the matter.
Interestingly, The FT reports that PIF initially approached Musk about purchasing newly issued shares but Musk reportedly rebuffed the offer - perhaps anxious of the perception of further dilution and the promises he made of the need for more capital.
Note, however, that Tesla gets $0 from this secondary market investment - at a time when the carmaker is losing a record amount of money.
Tesla shares are jumping on the news…
https://www.zerohedge.com/news/2018-08-07/tesla-jumps-saudis-reveal-2-billion-stake
and
As Diplomatic Feud Deteriorates, Saudis Stop Buying Canadian Wheat, Barley
https://www.zerohedge.com/news/2018-08-07/diplomatic-feud-deteriorates-saudis-stop-buying-canadian-wheat-barley