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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
FinanceDefense

US to sell up to $2.2 billion in weapons to UAE, Saudi Arabia

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October 12, 2024, 6:38 PM ET
Hellfire missile
A Hellfire missile resting in the weapons bay of a US Air Force Predator drone.David Bathgate—Corbis via Getty Images
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The Biden administration approved the sale of billions of dollars in weapons to Saudi Arabia and the United Arab Emirates, a fresh show of support to two allies that are crucial to the US pushback against Iran and its proxies as conflict escalates in the Middle East.

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The State Department notified Congress it approved the sale of Does Hellfire and Sidewinder missiles, along with artillery, tank and machine gun ammunition to Saudi Arabia in a deal valued at more than $1 billion. In August, President Joe Biden lifted limits on the sale of offensive weapons to Saudi Arabia as a way to pressure Riyadh to wind down its war against Houthi rebels in Yemen. 

The Houthis have gone on the offensive targeting commercial shipping in the Red Sea in the year since Hamas, labeled a terrorist group by the US and the European Union, attacked Israel on Oct. 7, 2023. Both groups get funding from Iran, which is in an escalating conflict with Israel.

The State Department also notified lawmakers that it has approved the potential sale of GMLRS guided-rocket systems, long-range ATACMS missiles, and training and support for both systems, in a deal valued at as much as $1.2 billion, to the United Arab Emirates. 

Unless Congress moves to block the proposed sales, the contractors and receiving countries can begin negotiations on contracts, which may fall short of the maximums approved. RTX Corp. makes the Sidewinder missile. All of the other arms are made by Lockheed Martin Corp. 

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