Russo Brothers received a $ 50 million investment from Saudi Arabia

The Russo brothers, the directors of the highest-grossing film of all time, “Avengers: The EndCom”, quietly received about $ 50 million in cash into their production company. AGBO From Saudi Arabia Earlier this year, several sources said Variety.

In a deal brokered and closed at the beginning of the epidemic, Russos received an investment from an unpublished Saudi bank, in exchange for minority shares in the brothers’ Los Angeles-based store. The money is earmarked for financial development, production and upliftment, Two people who knew the transaction said.

Russos counts several investors and maintains a controlling interest in their company, which recently created Chris Hemsworth’s “extraction” of Netflix success and Tom Holland’s upcoming “cherry”.

Osho and Anthony Russo Declined to comment on the matter. An insider said the Saudi money was a one-time cash infusion. Another source said the investment is more than 50 million.

Many Hollywood companies, from Walt Disney Co. to Live Nation, have received significant investments from sources including sovereign wealth funds in the Middle East. Following the assassination of Washington Post columnist Jamal Kashoghi in October 2018, the Western media in Saudi Arabia caused a great deal of controversy – with reports of Crown Prince Mohammed bin Salman being implicated in the assassination. SRMG, a Saudi Arabian publishing and media company, is publicly traded and is a minority investor in PMC. VarietyParent company.

Although Russos does not receive any public funds, the Saudi Arabian government holds shares in the Kingdom’s banks, although not all of them hold a majority stake. A bank investment from Saudi public funds and a “natural difference,” said one naturalist.

The uproar over Kashoki’s death created a human rights crisis for the kingdom, and the Crown Prince embarked on an ambitious attempt to modernize the country. AMC Theaters awarded a lucrative contract to build Cineplex. The Kingdom took a $ 500 million minority stake in Live Nation to build large-scale live music infrastructure. In the hope of promoting a strong entertainment economy, the government allowed women to drive.

As a result of Kashogi’s death, the Hollywood company Endeavor returned $ 400 million to the Saudis. Several premium media companies, including Viacom and Uber, walked out of a conference in Saudi Arabia in 2019, dubbed “Davos in the Desert,” which later exposed Salman’s efforts.

AGBO was founded by Russo in 2016 to provide artist-led content based on innovative story universes in film, television and digital platforms. The brothers will begin production in three weeks on the spy thriller “The Gray Man” starring Ryan Gosling, Chris Evans and Ana de Armas on Netflix. They will then produce the original series of Amazon Prime video “Citadel” and a sequel to Netflix’s best rated “Extraction”. On Friday, Universal announced a new feature with “Stranger Things” star Millie Bobby Brown.

Michael b. The brothers have announced a planned resumption of “The Thomas Crown affair” in 2019, with the Jordanian star linked up, although locals say the plan is no longer active.

“Avengers: Endcome” is their crowning achievement. The fourth installment of Marvel Studios’ superhero extravaganza shattered domestic and global opening weekend records, reaching a total of 79,797,800,564 worldwide.