Saudi sovereign wealth fund
Appears in 4 stories
Owns Red Sea Global and backs the project's long-term offtake agreement
An entire tourism destination on Saudi Arabia's Red Sea coast now runs on its own solar-and-battery microgrid, with no connection to the national power grid. The project reached full commercial operation this week, pairing 358 megawatts of solar with 1,225 megawatt-hours of battery storage.
Updated 1 hour ago
Controlling owner of EA
Electronic Arts has been a public company since 1989. On August 4, 2026, that ended. A group led by Saudi Arabia's Public Investment Fund bought the maker of Madden, The Sims, and Battlefield for about $55 billion and took it private.
Updated Aug 4
Sole owner and primary financier of NEOM
Saudi Arabia announced NEOM in 2017 as a 26,000-square-kilometer city of the future on the Red Sea, with THE LINE — a 170-kilometer ribbon of 500-meter mirrored walls — as its flagship. Nine years and roughly $500 billion later, the 2026 reality is split: THE LINE is paused at a 2.4-kilometer foundation while the Port of NEOM commissioned its first container terminal in industrial Oxagon.
Updated May 31
Owner and strategic sponsor of Riyadh Air
Riyadh Air, Saudi Arabia's startup flag carrier, is what IBM and the airline call the world's first "AI-native" airline — built from day one around AI-driven, cloud-based systems, not retrofitted legacy IT. Launched in March 2023 under Vision 2030, the airline has ordered large fleets from Boeing and Airbus and aims to connect over 100 destinations and serve millions of travelers by 2030 through Riyadh's planned mega-hub.
Updated May 10
No stories match your search
Try a different keyword
How would you like to describe your experience with the app today?
