Sovereign wealth fund
Appears in 2 stories
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 6 days ago
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, headlined by THE LINE — a 170-kilometer ribbon of mirrored 500-meter walls. Nine years and roughly $500 billion of headline budget later, the picture in 2026 has split in two. THE LINE is paused at a 2.4-kilometer foundation. The Port of NEOM, in the industrial city of Oxagon, has just commissioned its first container terminal.
Updated Apr 27
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