Seems like the fire sale has been going on for a while. $1.5B for 10% six months ago.
https://www.marketwatch.com/story/sa...?mod=home-page
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It wasn’t even six months ago that Saudi National Bank paid $1.5 billion for a 9.9% stake in Credit Suisse.
That stake is now worth about $215 million after UBS UBS, -5.50% reportedly swooped in to acquire its fallen rival for more than $2 billion.
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Others taking a hit.
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The Saudis aren’t the only Middle Eastern investor nursing a heavy paper loss. The Qatar Investment Authority has a 6.8% stake in Credit Suisse, its sixth largest position in its portfolio. Olayan Group, which is headquartered in Liechtenstein but whose founder was a major Saudi businessman, is the number-three shareholder.
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Looked up the below. The sovereign fund has $1.2T and "in December 2021, it was worth about $250,000 per Norwegian citizen". That was an interesting way to put it vs with US social security, it talks about monthly/annual payouts.
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Another major shareholder is the Norges Bank Investment Management, the sovereign wealth fund of Norway.
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