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MBS Wants Saudi Arabia Fund to Reach $2 Trillion in Assets
Article

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.



Editorial Rating

8

Qualities

  • Eye Opening
  • Overview

Recommendation

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.

Take-Aways

  • Crown Prince Mohammed bin Salman (MBS) has grand ambitions for his country.
  • MBS is substantially expanding Saudi Arabia’s sovereign wealth fund to finance large-scale investments.
  • Plans for Saudi Arabia to attract tourists and expatriates have inherent problems.

About the Author

Randy Diamond writes for Chief Investment Officer magazine.