We wrote earlier in the week about the influence and impact of sovereign wealth funds and lo and behold, one based out of Abu Dhabi is set to purchase New York City’s famed Chrysler building.
Here’s the story from The New York Post:
The latest Big Apple trophy being coveted by oil-rich sovereign wealth funds is the landmark Chrysler Building.
Sources say the super-rich Abu Dhabi Investment Council is negotiating an $800 million deal for a 75 percent stake in the Art Deco treasure that has defined the Midtown skyline since 1930.
At this rate, with oil being $130-$135 a barrel, the Arab Gulf States will own
half all of America.