7.02.2004

Fahrenheit Fact no. 25: Moore claims Saudis have $100 billion more invested in America than is believed they have invested in the entire world

From Dave Kopel:
Moore asks Craig Unger: “How much money do the Saudis have invested in America, roughly?” Unger replies “Uh, I've heard figures as high as $860 billion dollars.” Instead of relying on unsourced figures that someone says he “heard,” let’s look at the available data. According to the Institute for Research Middle Eastern Policy (a pro-Saudi think tank which tries to emphasize the importance of Saudi money to the United States), in February 2003 total worldwide Saudi investment was at least $700 billion. Sixty percent of the Saudi investments were in the United States, so the Saudis had about 420 billion invested in the U.S.—a large amount, but less than half of the amount that Moore’s source claims he “heard.” (Tanya C. Hsu , “The United States Must Not Neglect Saudi Arabian Investment” Sept. 23, 2003.)
From the Institute for Research Middle Eastern Policy:
In February 2003, total worldwide Saudi investment, including investment in the United States and Europe, was conservatively estimated at U.S. $700 billion. The United States received approximately 60% of the global Saudi investment allocation. (See exhibit #2)
) Note that this is their worldwide investment, not their US investment. (Emphasis mine) -a_sdf