Deals
The Key Questions Asked About Saudi Arabia’s $2 Trillion Fund
- Kingdom is expanding the PIF to diversify away from oil
- Analysts expect true size of SWF to be significantly lower
What Changes Can We Expect to See in Saudi Arabia?
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Saudi Arabia is planning to expand its sovereign wealth fund into the world’s largest. The Public Investment Fund could eventually control more than $2 trillion, according to Deputy Crown Prince Mohammed bin Salman, making it big enough to buy the world’s four largest publicly traded companies.
The fund is at the center of efforts to diversify revenue from oil under an economic transformation plan known as Vision 2030. The 84-page Vision blueprint includes plans to restructure the country’s finances, administration and reshape oil giant Saudi Aramco into an industrial and energy conglomerate.