Zell Is More Likely to Invest in Saudi Arabia Following Arrests

Zell Says Change in Saudi Arabia Is 'Long Overdue'

Sam Zell, chairman of real estate firm Equity Group Investments LLC, said the arrests of princes, billionaires and officials in Saudi Arabia over the weekend were “long overdue” in a country that has been “in many ways resisting modernization,” and that he’s personally more likely to invest there as a result.

Though this is “very dramatic and very scary to a lot of people, I don’t think Saudi Arabia has any option,” the billionaire investor said in an interview on Bloomberg Television on Tuesday, adding that he’s “more supportive of Saudi investments today than I was a week ago or a year ago.”

Sam Zell, chairman at Equity Group Investments, discusses Saudi Arabia’s anti-corruption crackdown.

(Source: Bloomberg)

— With assistance by Paris Wald, and Katia Dmitrieva

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