Uber Stock Still Underwater for Saudi Arabia, Three Years Later
Traders work during Uber's initial public offering on the floor of the New York Stock Exchange on May 10, 2019.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Arriving late to a party can be great for those looking to make a splashy entrance. But for most Uber Technologies Inc. financiers who joined at the tail end of its tenure as a private company, not so much.
A private investment by Saudi Arabia’s sovereign wealth fund nearly three years ago is still worth less than at the time of purchase. The fund, overseen by the controversial Saudi Crown Prince Mohammed bin Salman, invested in June 2016 at $48.77 a share. The stock closed its first day of trading Friday at $41.57.