TECH
Saudi Money Flows Into Silicon Valley—and With It Qualms
The kingdom is now the largest single investor for U.S. startups, an unsettling fact for Silicon Valley
Turkish officials say a team of alleged Saudi assassins apprehended and likely killed a Saudi journalist in Istanbul. The Saudis have denied any involvement but Jamal Khashoggi has not been seen since he entered the Saudi Consulate on Oct.2. Photo: Getty Images
By Eliot Brown and Greg Bensinger
Updated Oct. 16, 2018 1:50 p.m. ET
As international backlash grows over Saudi Arabia’s alleged involvement in the possible murder of a journalist, Silicon Valley faces a potentially unsettling fact: The kingdom is now the largest single funding source for U.S. startups.
Crown Prince Mohammed bin Salman has directed at least $11 billion of Saudi money into U.S. startups since mid-2016, either directly or through SoftBank Group Corp.’s $92 billion tech-focused Vision Fund, to which the Saudis committed $45 billion, according to a Wall Street Journal estimate...
READ MORE: https://www.wsj.com/articles/saudi-backlash-threatens-u-s-startups-1539707574
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