‘An operation of seduction’Just days after the PGA-LIV Golf merger was announced, a contingent of Saudi Arabian investors and power brokers, including the crown prince, Mohammed bin Salman, has converged on France this week looking for more deals with potentially trillions to spend.
The “Invest in Saudi” booth at VivaTech — where Elon Musk and the luxury tycoon Bernard Arnault are also on the program — has an outsized presence.
Paid for by the Saudi Ministry of Investment, the booth serves as a kind of billboard to announce the country’s ambitions and a way to help its entrepreneurs attract Western investors and prospective business partners, Vivienne Walt writes for DealBook.
Badr Al Badr, the deputy minister for investor outreach, told DealBook that Saudi Arabia has about $3.2 trillion to invest by 2030.
“That is why there are so many opportunities for investors,” he said.
Persons:
Mohammed bin Salman, Elon Musk, Bernard Arnault, Vivienne Walt, DealBook, Prince Mohammed, Badr Al Badr, ”
Organizations:
LIV, Invest, —, Elon, Saudi Ministry of Investment, PayPal, Electronic Arts
Locations:
Saudi Arabian, France, Saudi, Badr, Saudi Arabia