Sovereign wealth fund
Appears in 2 stories
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
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