How Saudi Arabia Bought A $2 Trillion Company
发布时间 2021-09-20 19:00:01 来源
摘要
Saudi Arabia is known for its extreme levels of wealth thanks to its rich oil reserves. But did you that Saudi Arabia was so wealthy that they managed to buy a $2 trillion oil company from American giants? It all started in the early 1900s when the automobile industry experienced its first boom. American oil giants started their global search for oil and Saudi Arabia, who was desperate for any sort of revenue they could get at the time, let the Americans search for oil in Saudi Arabia. The Americans searched for years but found no oil. Just as they were about to quit though, they struck gold. Over the next few decades, Saudi Arabia worked with the Americans for royalty and profit-sharing deals. It wasn’t until the 1970s and a misunderstanding over the Yom Kippur war that Saudi Arabia started to build up a stake in Aramco. Within just 6 years, the Saudi government bought out the entire company, and they have been enjoying the full financial benefits ever since. As the world moves to renewable energy though, the future of Saudi Arabia has become more uncertain. The prince of Saudi Arabia has chosen to diversify the country’s revenue sources and take Saudi Aramco public which gave the company a valuation of $2 trillion. This video explains the story of Saudi Aramco and how Saudi Arabia ended up buying a $2 trillion company.
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Timestamps:
0:00 - Saudi Aramco
0:46 - The Search For Oil
3:20 - Entering The Oil Industry
5:46 - OPEC
7:28 - Taking Control
9:02 - Fighting The Dependence On Oil
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