After talking about the £5.8 billion (near $10 billion) that the Sovereign Wealth Funds of Qatar and Abu Dhabi gave to Barclays in return for a 30% stake in the Bank, which is by no means a done deal by the way, I wondered what else they could have done with the money.
And the answer came to me whilst watching a programme about the building of the Burj Dubai.
This is going to be the world's tallest building at 688 metres high.
The cost of the Burj Dubai is about $1 billion ... so they could have had FIVE of the world's tallest buildings EACH!!!
And maybe they should have done because, just as Dubai gets to build a 688 metre tall
building, Saudi announce they are going one better and building a 1,600 metre
tall building. You heard me - a Mile High Tower!!!!
Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...