Saudi fox

[Benhogan]

Anyone notice how both O'reilly and Hannity completely side-stepped the issue of Saudi Arabia? Could it be because , from what I've heard, fox is 30 to 40% owned by the Saudis? I thought it was a strange coincidence.

[Chester Copperpot]

Anyone notice how both O'reilly and Hannity completely side-stepped the issue of Saudi Arabia? Could it be because , from what I've heard, fox is 30 to 40% owned by the Saudis? I thought it was a strange coincidence.

Of course... They own like 25% of all the stocks in america so they probably on average own 25% of FOX.

[libertarian4321]

Of course... They own like 25% of all the stocks in america so they probably on average own 25% of FOX.

Umm, no.

This is one of those silly things you hear from time to time- people think that because a few of the Saudi Royal family are very rich, and because it has oil, that its rich enough to "buy out the USA" or similar nonsense.

Saudi Arabia's yearly GDP is roughly equivalent to the annual revenues of Walmart. That means every penny earned in Saudi Arabia, from oil sales to selling Korans to chicken farming combined, is a bit less what one very large American corporation makes.

Saudi Prince Al-Waleed bin Talal, however, does own a fairly large stake in News Corp (the parent of Fox News)- about 6-7%. He's the 13th richest man in the world, but owes most of his fortune to investing, not oil (he made almost $10 billion investing in Citicorp alone).

BTW, China doesn't own most American stocks, either. Nor does Japan (that was the silly story you'd hear 20 years ago, not so much now). Most American stocks (News Corp relocated to the USA in 2004- it had been an Australian Corporation) are owned mostly by....drum roll please...AMERICANS!