Saudi Arabia to Invest $20 Billion in Infrastructure, Mostly in U.S.
ByAs President Trump begins his first presidential trip abroad in Saudi Arabia, an investment company run by one of his top supporters, the billionaire Stephen A. Schwarzman, has secured an enormous investment from the Middle Eastern kingdom.
The company, Blackstone, which Mr. Schwarzman helped found, said on Saturday that Saudi Arabia’s sovereign wealth fund had committed $20 billion to a new investment fund aimed at infrastructure projects, primarily in the United States.
The commitment is about half of the capital Blackstone plans to raise for the fund. All told, including potential borrowed money, the new fund could invest more than $100 billion in infrastructure projects, the company said in its statement…
Saudi Arabia to Invest $20 Billion in Infrastructure, Mostly in U.S.
