The PIF has already founded 54 new businesses, spanning industries like real estate and luxury cruises, with an investment goal of at least $40 billion a year in Saudi Arabia. This is the story of the making of Saudi Inc.
Within the next few years, an American Executive flying into Saudi Arabia may exit from an airline established by the country's sovereign wealth fund and book an Uber, in which the same fund has a 4% holding. After being chauffeured around the capital, the Exec may stay...