Saudi PIF reaches nearly $1 trillion in assets, says governor

Public Investment Fund (PIF) Governor Yasir Al-Rumayyan said the sovereign wealth fund will soon announce its new strategy, revealing the next phase of Saudi Arabia’s investment plans under Vision 2030.

Speaking at the opening session of the Future Investment Initiative (FII) in Riyadh, Al-Rumayyan said the roadmap, now in its final approval stage, will define PIF’s direction from 2026 to 2030. The plan focuses on six key ecosystems, travel, tourism and entertainment; urban development and livability; advanced manufacturing and innovation; industry and logistics; clean energy and renewables; and NEOM as an independent ecosystem.

Tracing the fund’s transformation, Al-Rumayyan said the PIF has grown from managing $150 billion in 2015 to nearly $1 trillion in assets under management today.

“The Crown Prince believed the PIF could do even more and that was the spark”, he said, describing how the fund evolved from a limited developmental body into a global investment powerhouse driving Saudi diversification.

Since the launch of Vision 2030, the PIF has established more than 100 companies in emerging sectors, including manufacturing, tourism and culture, creating over 1.1 million jobs worldwide, most within Saudi Arabia.

“We moved from building companies to building ecosystems”, Al-Rumayyan said.

He added that the fund now employs over 3,000 people, compared with fewer than 40 in 2015 and operates international offices in New York, London, Paris, Beijing and Hong Kong, as well as regional branches in Egypt, Jordan, Oman and Bahrain.

Al-Rumayyan said the next stage will focus on efficiency and long-term results as the PIF continues to play a central role in Saudi Arabia’s economic transformation.

“The PIF will remain the cornerstone of Vision 2030, driving the Kingdom’s transformation for decades to come", he said.