Saudi Arabia to Invest $20 Billion in Infrastructure, Mostly in U. S. -
By MICHAEL J. de la MERCEDMAY 20, 2017
As 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 fund was one of several business deals between an American company and Saudi Arabia announced after Mr. Trump’s arrival.
All told, including potential borrowed money, the new fund could invest more than
$100 billion in infrastructure projects, the company said in its statement.
The American investment company said it had already invested in over $40 billion worth of projects tied to infrastructure over the last 15 years.