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Saudi PIF picks up minority stakes in Alphabet, Microsoft and Zoom

PIF has doubled down its bet on various American brands

[Source photo: Anvita Gupta/Fast Company Middle East]

Saudi Arabia’s Public Investment Fund (PIF) has invested over $7 billion in American companies, increasing its investment portfolio to approximately $40.8 billion.

According to a US Securities and Exchange Commission, the sovereign investment fund bought 213,000 class A shares in Alphabet, 4.7 million class A shares in Zoom, and 1.8 million in Microsoft.

Among the other companies it has invested in are JPMorgan, BlackRock, and Starbucks, acquiring 3.9 million shares, 741,693 shares, and 6.3 million, respectively.

PIF’s shares in Alphabet, Zoom, and JP Morgan Chase are worth $464 million, $507 million, and $433.6 million, respectively. PIF has also increased its stake in Facebook’s owner Meta where it has invested $474 million to increase the number of shares from 418,000 to 2.9 million.

PIF, which manages $620 billion in assets, has also picked up shares of Adobe Systems, Advanced Micro Devices, Salesforce, Home Depot, Costco, Freeport-McMoRan, Datadog, and NextEra Energy in its latest investment spree.

Among the other major companies that PIF has invested in are PayPal Holdings, Inc, where it has increased its share count to 7.1 million, Amazon, where it now owns 4 million shares, and 16 million shares in Electronic Arts, where it has invested over $1.94 billion.

The list doesn’t stop here. The Saudi sovereign wealth fund has also bought $17.4 billion shares in Lucid Group Inc., taking up its claims to 1 billion.

This latest investment activity aligns with Saudi Arabia’s strategy to reduce its reliance on Oil and help build a diversified portfolio. 

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