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Top related persons:
LIV - 2 Antony Blinken - 1 Saudi Crown Prince Mohammed bin Salman - 1 Saudi Arabian Crown Prince Mohammed bin Salman - 1 we'll - 1 PIF - 1 Hritika Sharma - 1 Michael Perry - 1
Top related locs:
Jeddah Saudi Arabia Saudi Bandar Hyderabad Wall Silicon Miami
Top related orgs:
PGA - 2 Saudi - 2 Saudi Crown - 1 Saudi Royal Court - 1 REUTERS - 1 Saudi Arabian Crown - 1 Fox News - 1 Public Wealth Fund - 1

Search resuls for: "Public Wealth Fund"


7 mentions found


☆ Saudi crown prince says he does not care about 'sportswashing' claims
  + stars: | 2023-09-22 | by ( ) www.reuters.com   time to read: +2 min
U.S. Secretary of State Antony Blinken (not pictured) meets with Saudi Crown Prince Mohammed bin Salman, in Jeddah, Saudi Arabia, June 7, 2023. "If sportswashing (is) going to increase my GDP by 1%, then we'll continue doing sportswashing," the crown prince told Fox News. Saudi Arabia denies accusations of human rights abuses and says it protects its national security through its laws. When asked specifically about the term "sportswashing", the crown prince said: "I don't care. Saudi Arabia has been hosting a Formula One Grand Prix since 2021 and has also held boxing world title fights.
Persons: Antony Blinken, Saudi Crown Prince Mohammed bin Salman, Saudi Arabian Crown Prince Mohammed bin Salman, we'll, PIF, LIV, Hritika Sharma, Michael Perry Organizations: Saudi Crown, Saudi Royal Court, REUTERS, Saudi Arabian Crown, Fox News, Public Wealth Fund, Premier League, Newcastle United, PGA, Saudi Pro League, Thomson Locations: Jeddah, Saudi Arabia, Bandar, Saudi, Hyderabad
☆ The Saudi-back LIV golf league is moving its possible last ever championship to Trump's Doral golf course
  + stars: | 2023-07-10 | by ( Brent D. Griffiths | ) www.businessinsider.com   time to read: +3 min
LIV Golf will host its championship tournament at a Trump-owned golf course for its second straight year. The golf league moved the championship from Saudi Arabia where it was initially scheduled. The PGA has said it will merge with the controversial Saudi-backed golf league. The decision means that for the second straight year, LIV's golf championship will be held at Trump's Doral course. Before their merger, LIV and the PGA were in fierce competition to retain some of the sport's most successful golfers.
Persons: LIV, Donald Trump's Trump, Trump, Jamal Khashoggi, Prince Mohammed bin Salman, Randall Stephenson, Rory McIlroy, Dustin Johnson, they're, Johnson Organizations: Trump, Service, Donald Trump's Trump Doral, Golf Club, Doral, Capitol, PGA, Golf, ESPN, Saudi, Washington Post Locations: Saudi Arabia, Saudi, Wall, Silicon, Miami, Jeddah
☆ EV maker Lucid announces $3 billion raise from Saudi public wealth fund and stock offering
  + stars: | 2023-05-31 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com   time to read: +1 min
Electric vehicle maker Lucid announced plans to lay off 1,300 workers, 18 percent of its workforce, as part of a restructuring plan. Lucid Group said on Wednesday that it is raising about $3 billion through a new equity offering, with the majority coming from the Saudi fund that controls the luxury electric-vehicle maker. Lucid said that about $1.8 billion of the total will come from a private placement of stock with Saudi Arabia's Public Investment Fund (PIF). The remainder will be raised through a public offering of new shares that commenced Wednesday, the company said. Lucid had about $3.4 billion in cash and about $700 million in available credit lines as of March 31, according to its most recent report.
Persons: Lucid Organizations: Electric, Lucid, Saudi, Saudi Arabia's Public Investment Fund Locations: Newark , California
☆ 'Our phones are ringing off the hook': Amid a global downturn, the finance world is chasing Middle Eastern money
  + stars: | 2023-03-09 | by ( Natasha Turak | ) www.cnbc.com   time to read: +5 min
The region's 10 largest sovereign wealth funds combined manage nearly $4 trillion, according to the Sovereign Wealth Fund Institute. The regional investors, especially the sovereign funds but also the families, are now much more sophisticated than before. Follow the capitalAs oil prices made a roaring comeback in the last two years, the Gulf's public wealth funds went on a spending spree. It added that GCC sovereign wealth funds "played an important role in 2020 during the Covid-19 pandemic and now again in 2022 during times of financial distress." Our phones are ringing off the hook," one manager from a UAE investment fund said, declining to be named due to professional restrictions.
☆ Lucid's revenue falls short of estimates as it guides to higher EV production in 2023
  + stars: | 2023-02-22 | by ( John Rosevear | ) www.cnbc.com   time to read: +2 min
Electric vehicle start-up Lucid on Sept. 28, 2021 said production of its first cars for customers has started at its factory in in Casa Grande, Arizona. Electric vehicle maker Lucid on Wednesday reported fourth-quarter revenue that fell short of expectations after building just 7,000 of its Air luxury sedans last year amid manufacturing challenges. But the company said it expects to make between 10,000 and 14,000 vehicles in 2023. The company's bottom line likewise improved, coming in narrower than the 64-cent loss per share it posted in the year-ago period. The company said in April that Saudi Arabia's government had agreed to buy up to 100,000 of its vehicles over the next 10 years.
☆ EV maker Lucid closes $1.5 billion raise from the Saudi public wealth fund and other investors
  + stars: | 2022-12-19 | by ( John Rosevear | ) www.cnbc.com   time to read: +1 min
Lucid Motors CEO Peter Rawlinson claps after ringing the opening bell at the Nasdaq MarketSite as Lucid Motors (Nasdaq: LCID) begins trading on the Nasdaq stock exchange after completing its business combination with Churchill Capital Corp IV in New York City, July 26, 2021. Electric vehicle maker Lucid Group said Monday that it has completed a planned $1.5 billion equity offering. Lucid raised the majority of that cash, about $915 million, via a private sale of nearly 86 million shares to an affiliate of its largest investor, Saudi Arabia's Public Investment Fund. The remaining $600 million was raised via a traditional secondary stock offering, in which Lucid sold an additional 56 million shares. The funding round was structured to keep the Saudi public wealth fund's stake in Lucid at its previous level, about 62%.
☆ Electric vehicle maker Lucid reports third-quarter loss, confirms it's on track to meet production guidance
  + stars: | 2022-11-08 | by ( John Rosevear | ) www.cnbc.com   time to read: +2 min
Electric vehicle start-up Lucid on Sept. 28, 2021 said production of its first cars for customers has started at its factory in in Casa Grande, Arizona. Here's what the company reported:Revenue: $195.5 million, versus $232,000 in the year-ago quarter, when it was beginning production of the Air sedan. $195.5 million, versus $232,000 in the year-ago quarter, when it was beginning production of the Air sedan. On Oct. 12, Lucid said that it produced 2,282 vehicles and delivered 1,398 vehicles to customers in the third quarter. The funding round is structured to keep the Saudi public wealth fund's stake in Lucid at its current level.
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