In a similar fashion to LIV Golf, a group of investors from Saudi Arabia are putting forward plans to launch a premier bass fishing league as part of their efforts to diversify the kingdom's investment portfolio. This move comes as Saudi Arabia's Public Investment Fund (PIF) continues to expand its presence in various sectors beyond oil.
LONDON, Jan 1 (Reuters) - Saudi Arabia's Public Investment Fund accounted for about a quarter of the almost $124 billion spent by sovereign wealth funds globally in the first quarter of this year. The fund has been actively seeking opportunities to invest in new industries and technologies, aiming to reduce its reliance on oil revenues.
The government of Saudi Arabia plans to create a fund of about $40 billion to invest in artificial intelligence, according to three people familiar with the matter. This initiative is part of the kingdom's Vision 2030 plan, which aims to diversify its economy and create new opportunities for growth.
Saudi Arabia's Public Investment Fund (PIF) is at the forefront of the kingdom's bid to diversify from its oil-reliant economy, with investments in sectors such as technology, entertainment, and sports. The fund's strategic investments have helped propel Saudi Arabia onto the global stage as a major player in the world of finance.
The United States should investigate and regulate sovereign wealth funds like Saudi Arabia's Public Investment Fund (PIF) that have been making significant investments in American companies. Concerns have been raised about the potential influence these funds could have on the US economy and national security.
Saudi Arabia's sovereign wealth fund is set to earn about $5 billion in dividend payments every quarter from its stake in Aramco after the oil giant's recent blockbuster IPO. The fund's investment in Aramco has proven to be highly lucrative, further solidifying its position as a major player in the global investment landscape.
The Saudi Arabian Public Investment Fund (PIF) urged the leaders of a Senate subcommittee to back off on subpoenas issued to four of its top executives. The fund has come under scrutiny for its investments in American companies, with lawmakers seeking more transparency and oversight.
Sovereign wealth funds and other investors are jostling to buy into an Anthropic stake. But the company has ruled out taking any Saudi investment, citing concerns over human rights issues. This highlights the challenges faced by Saudi Arabia's Public Investment Fund in expanding its investment portfolio globally.
Saudi investment fund buys into men's tennis in 'strategic' deal with ATP. But Saudi Arabia has been accused by its critics of 'sportswashing' by using sports investments as a way to improve its image on the world stage. Critics have raised concerns about the kingdom's human rights record and its use of sports as a means of distraction.
