File 031624
Email Chain on Saudi Arabia Investment Withdrawals and Royal Family Finances (File 031624)
Email correspondence between Landon Thomas Jr. (New York Times financial reporter) and Jeffrey E. discussing Saudi Arabia's withdrawal of substantial funds from investment vehicles and the financial impact on the Saudi royal family amid declining oil prices.
Summary
In October 2016, Landon Thomas Jr. reached out to Jeffrey E. seeking insights for a New York Times investigation into how declining oil prices were affecting the personal finances of Saudi Arabia's royal family. Thomas noted that the Saudis had withdrawn approximately $200 billion from entities like BlackRock over the past year. Jeffrey E. provided context on Saudi investments being heavily concentrated in private equity funds with withdrawal restrictions, and offered broader geopolitical analysis regarding the diversification of U.S. political power, social media's role in amplifying wealth inequality within the Saudi royal family, and the impact of the 9/11 Saudi litigation bill on U.S.-Saudi relations.
From:Sent:To: Thomas Jr., LandonSubject: Re: Saudi moneyjeffrey E. [jeeyacation@gmail.com]10/19/2016 1:48:17 PMImportance: Highsorry, no good handle without diggingOn Wed, Oct 19, 2016 at 9:47 AM, Thomas Jr., Landon <1.1> wrote:what is your back of the envelope guess as to much saudi money tied up in such funds?On Wed, Oct 19, 2016 at 9:43 AM, jeffrey E. <jeevacation@gmail.com> wrote:most of the saudi money is tied up in pe funds. no withdrawals allowed. and im not seeing much in thesecondary market. . blackrock is more money market, more like custodian than investor.On Wed, Oct 19, 2016 at 9:41 AM, Thomas Jr., Landon -1.1> wrote:Interesting. CEO of big finance form told me that Saudis (SAMA) have withdrawn $200 billion thathas been parked with usual suspects over past year or so. That number seem in line with what youknow?On Tue, Oct 18, 2016 at 7:04 AM, jeffrey E. <jeevacation@gmail.com> wrote:words that you to refer to one thing, USA. the stock market / the Royal family, . are no longer veryuseful. In politics the USA meant the white house. now there is pentagon. cia, state, and congress inaddition, each feels empowered to act more independantly. stock market even in tech, needs biotech, consuner tech. infrastrucrue tech. etc. same with Royal family, there are 20k members of atribe, called the royal family, the words are misleading. if your article is focused on bin salman, orthe very top. no one is wondering where they can find the local costco.. but they are aware that amessage needs to be sent to their population , regarding the next 20 years,social media, and the selfie crowds post the best of everything, their cutest pictures the amazingfood , the luxury resorts. the masses see these things and as the difference between expectations andreality widen, the anger grows. trump has tapped in.with the passage of the 9 11 saudi bill, unlike the french revolution where it was the people of francethat revolted against their own aristocracty, with the internet and globalization of discontect it is now theamericans that can revolt against the saudi leadership. it is the americans that are demanding womendrive, not the saudisOn Mon, Oct 17, 2016 at 5:57 PM, Thomas Jr., Landon < > wrote:I have been called in to help on a big NYT investigation into how low oil prices have beeneffecting the personal finances of royal family in Saudi Arabia. Obviously they called in much oftheir cash from the likes of BlackRock and others but I thought you might have some ideas.Maybe some people to talk to?I would think its more than cutting down on yachts and private planes or selling real estate inParis, Istanbul, London.Any thoughts?PS: does my story on Abraaj get me a meeting with Gates next time he is in town:)HOUSE OVERSIGHT 031624Landon Thomas, Jr.Financial ReporterNew York Timeshttp://topics.nytimes.com/top/reference/timestopics/people/t/landon jr thomas/index.htnnlIplease noteThe information contained in this communication isconfidential, may be attorney-client privileged, mayconstitute inside information, and is intended only forthe use of the addressee. It is the property ofJEEUnauthorized use, disclosure or copying of thiscommunication or any part thereof is strictly prohibitedand may be unlawful. If you have received thiscommunication in error, please notify us immediately byreturn e-mail or by e-mail to jeevacation@gmail.com, anddestroy this communication and all copies thereof,including all attachments. copyright -all rights reservedLandon Thomas, Jr.Financial ReporterNew York Timeshttp://topics.nytimes.com/top/reference/timestopics/people/t/landon jr thomas/index.htmlplease noteThe information contained in this communication isconfidential, may be attorney-client privileged, mayconstitute inside information, and is intended only forthe use of the addressee. It is the property ofJEEUnauthorized use, disclosure or copying of thiscommunication or any part thereof is strictly prohibitedand may be unlawful. If you have received thisHOUSE OVERSIGHT 031625communication in error, please notify us immediately byreturn e-mail or by e-mail to jeevacation@gmail.com, anddestroy this communication and all copies thereof,including all attachments. copyright -all rights reservedLandon Thomas, Jr.Financial ReporterNew York Timeshttp://topics.nytimes.com/top/reference/timestopics/people/t/landon jr thomas/index.htmlplease noteThe information contained in this communication isconfidential, may be attorney-client privileged, mayconstitute inside information, and is intended only forthe use of the addressee. It is the property ofJEEUnauthorized use, disclosure or copying of thiscommunication or any part thereof is strictly prohibitedand may be unlawful. If you have received thiscommunication in error, please notify us immediately byreturn e-mail or by e-mail to jeevacation@gmail.com, anddestroy this communication and all copies thereof,including all attachments. copyright -all rights reservedHOUSE OVERSIGHT 031626