MBS Wants Saudi Arabia Fund to Reach $2 Trillion in Assets
The crown prince’s ambitious plan for the Public Investment Fund would change the kingdom’s dependence on oil while creating the world’s largest pool of institutional money, but questions remain.
- Eye Opening
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To wean itself from its oil dependency, the Saudi kingdom has big plans to become a tourist and expatriate destination. Crown Prince Mohammed bin Salman is using the state oil giant Saudi Aramco to bankroll his aspirations, but coming up with the money to fund multiple projects of unprecedented design while a global pandemic continues to rage may well prove a challenge. Financial journalist Randy Diamond takes a close look at what Saudi Arabia is planning in this eye-opening article.
About the Author
Randy Diamond writes for Chief Investment Officer magazine.