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Juber Al-haddad
Yasir Al-Rumayyan, the head of PIF, mentioned at the Future Investment Initiative conference in Riyadh on Tuesday that in the beginning, most of the Public Investment Fund's funds were put into projects within the local area.
He noted that foreign investment rose from 2% to 30%, but now they aim to decrease it to 18-20%.
The PIF has already divested its investments in BlackRock Inc, Carnival Corp, and Live Nation Entertainment Inc.
A report submitted to the Securities and Exchange Commission (SEC) showed that PIF's holdings of U.S.-traded shares rose to $20.6 billion by the end of the second quarter of the current year, compared to $35 billion at the end of 2023.
According to the FT, PIF's assets currently stand at around $930bn and the goal is to reach $2 trillion by 2030.
source: ft.com
He noted that foreign investment rose from 2% to 30%, but now they aim to decrease it to 18-20%.
The PIF has already divested its investments in BlackRock Inc, Carnival Corp, and Live Nation Entertainment Inc.
A report submitted to the Securities and Exchange Commission (SEC) showed that PIF's holdings of U.S.-traded shares rose to $20.6 billion by the end of the second quarter of the current year, compared to $35 billion at the end of 2023.
According to the FT, PIF's assets currently stand at around $930bn and the goal is to reach $2 trillion by 2030.
source: ft.com
