Saturday, October 13, 2018

Although Uber Pulled Out of The Saudi Investment Conference They Will Be Keeping the $3.5 Billion

From The Hill:
Uber's CEO Dara Khosrowshahi says he will not attend an upcoming conference in Saudi Arabia amid reports of the disappearance of Jamal Khashoggi, a Washington Post contributor and critic of the Saudi government.

Khosrowshahi said in a statement to reporters Thursday evening Uber would pull out of the Future Investment Initiative, dubbed Riyadh's "Davos in the desert" because of Khashoggi's disappearance amid reports Thursday evening that Turkish police say they have evidence the Post columnist was tortured and murdered by Saudi personnel.

"I’m very troubled by the reports to date about Jamal Khashoggi. We are following the situation closely, and unless a substantially different set of facts emerges, I won’t be attending the FII conference in Riyadh," he said, according to an email from Uber's press office.

Saudi Arabia has denied responsibility for Khashoggi's disappearance and has called for a joint investigation.

Recordings reportedly obtained by Turkish investigators and described to U.S. counterparts apparently contain evidence detailing the torture and dismemberment of Khashoggi, a Saudi-born journalist with ties to the royal family who nevertheless had been critical of Crown Prince Mohammed bin Salman in recent months....MORE
Financial Times, June 01, 2016

Leslie Hook
 Saudi wealth fund takes $3.5bn Uber stake
Saudi Arabia's sovereign wealth fund is investing $3.5bn in Uber, marking the largest single investment ever made in a private company.
The deal solidifies Uber’s place as the most-funded start-up in the world and brings its war chest to more than $11bn, at a time when the company is aggressively expanding in nearly 70 countries worldwide....