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The Public Investment Fund
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The Public Investment Fund

The Public Investment Fund

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Description

The Public Investment Fund is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of US$776 billion (£538 billion). It was created in 1971 for the purpose of investing funds on behalf of the Government of Saudi Arabia.

The wealth fund is controlled by Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler since 2015.

More than 60% of the fund's activities are within Saudi Arabia. Within Saudi Arabia, the fund's investments primarily go to private conglomerates owned by prominent Saudi business families who have close ties to the Saudi ruling family. Outside of Saudi Arabia, the fund's investments into prominent foreign assets such as Premier League football club Newcastle United have generated controversy due to the fund's lack of transparency and close control by the Saudi government, which has itself faced significant criticism around the lack of human rights in the country.

Website

https://pif.gov.sa

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Quotes

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KIMMEL James
KIMMEL James

For those who've been asking, I'm feeling great

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CLARKSON Jeremy
CLARKSON Jeremy

In my first year on the job I sold absolutely nothing at all

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BRUNDLE Martin
BRUNDLE Martin

I’m a big Ferrari fan.

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MCCALL Davina
MCCALL Davina

These are just mental. But these are all real, and these are very disconcerting to me, to the point where I thought, ‘I’m not sure I can present television any more’.

Madonna Reunites With Daughter Lourdes at Confessions II London Album Launch

LEON Lourdes
LEON Lourdes

It was my idea. I felt that between a mother and a daughter in a relationship, there are a lot of things that are unspoken