Asia's richest man gets $1.5 billion from Saudi Arabia for his tech war chest

By Dilip -
In less than two months, Indian billionaire Mukesh Ambani has amassed more than $15 billion in investments to fuel his technology ambitions from the likes of Facebook and top Silicon Valley investors Silver Lake and TPG. Now he has attracted a powerful new investor with deep pockets: Saudi Arabia. The kingdom's sovereign wealth fund, the Public Investment Fund (PIF), will pay $1.5 billion for a 2.3% stake in Jio Platforms, the digital technology arm of Ambani's sprawling conglomerate Reliance Industries. The deal, announced on Thursday, values Jio Platforms at close to $68 billion.

Jairus Banaji on the history of Indian capitalists
More posts on Saudi Arabia
Saoussen Ben Cheikh: Middle East Governments are using Covid-19 as a Pretext to Crush Human Rights // Palestinians to be “subjects,” not Citizens in Israeli Annexation
Leading Saudi activist dies in detention, say campaigners

It's the tenth major investment in Jio Platforms since April, when Facebook bet $5.7 billion in one of its biggest ever deals. That deal offered Facebook a crucial foothold in India's fast-growing internet market and further cemented Ambani's position as a kingmaker in the region. The social media company has hundreds of millions of users in India and has already invested heavily into growing its own business, but has run into a series of regulatory hurdles in recent years. Thanks to the fundraising blitz and a recent $7 billion share sale, Reliance Industries said on Friday that it is now debt free. The company said its net debt at the end of March was 1.61 trillion rupees ($21 billion)....
https://edition.cnn.com/2020/06/18/tech/mukesh-ambani-jio-saudi-investment-fund/index.html

 see also

Alex Clark - Nazism, slavery, empire: can countries learn from national evil?
Robert Fisk: Sinister efforts to minimise Japanese war crimes
Unit 731 Museum Harbin, China - the Japanese Army's 'medical experimentation' on POW's
The CIA's Intervention in Afghanistan Interview with Zbigniew Brzezinski, January 1998
Bharat Bhushan: A hanging in Dhaka, courtesy Delhi
Jairus Banaji: The history of Indian capitalists; and the BJP's assault on basic human rights


The knights of Bushido : a history of Japanese war crimes during World War II (1958)
Manimugdha Sharma - Subhas Bose wanted ruthless dictatorship in India for 20 years
The Manifesto of the Anti-Fascist Intellectuals: Written by Benedetto Croce (1925)

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