What happens when the most profitable company in the world issues bonds? Then it is massively oversubscribed. Who doesn’t want to profit from it? Saudi family oil company Saudi Aramco is the world’s most profitable company. According to credit rating agency Fitch, the world’s largest oil producer made $ 224 billion ($ 199 billion) in 2018. While the media are talking about profits from tech giants.
The operating profit of $ 224 billion is much higher than that of the major tech companies combined. For example, Apple posted an operating profit of $ 82 billion last year, and Alphabet booked a meager $ 30 billion, and Facebook, which was discredited, $ 55 billion. Well what is big?
Fitch assesses Aramco with the A + credit rating. This is the first time that the state-owned company has received a rating. Yes. A state-owned company; or is it a family company? A real IPO is planned. Of course we forget that the current shareholders of this family company recently had another journalist cut to pieces. State and family are one in this warm country.
And, where does this family business record its profits? With oil. Carbon. While many countries are working to achieve the Paris targets, the Saudis are ensuring that global warming continues for a while. It is already hot in the desert. And with oil you can also cool. So why worry? You spend your holiday in a cooler country.
The bonds have now been oversubscribed ten times, with the money raised, the prince want to implement “economic” reforms. In short, keep an eye on this company. There is no wrong money. Only high profits and why not take advantage of it?
Learn how and play the GREED game