Saudi’s PIF Hits $1 Trillion in Assets Amid Rising Costs and Strategy Shift

Saudi’s PIF hits $1 trillion in assets amid rising costs and strategy shift

Saudi Arabia’s Public Investment Fund now manages more than $1 trillion in assets for the first time, even as profits have plunged and costs for the kingdom’s ambitious projects have surged. Joining the illustrious club shows that PIF remains “one of the boldest institutional experiments in sovereign finance,” fund tracker Global SWF noted.Yet underlying the headline figure, unveiled in PIF’s annual report, are signs of Riyadh’s shifting priorit…

Saudi Wealth Fund Annual Profit Tumbles 60% As High Rates And Inflation Bite

Even though its assets surpassed $1 trillion, Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), reported a notable 60% decline in its annual net profit for 2024. Due to a combination of high interest rates, inflation, and project impairments, the PIF’s net profit dropped significantly from the prior year to 25.8 billion riyals […] The post Saudi Wealth Fund Annual Profit Tumbles 60% As High Rates And Inflation Bite appeared…

Saudi Public Investment Fund's Profits Plunge 60 Percent In 2024 - Iran Front Page

Saudi Arabia's sovereign wealth fund's net profits has plunged 60 percent in 2024, reflecting inflation and lower energy prices along with struggles to complete some of the kingdom’s flagship giga-projects.

Saudi wealth fund annual profit tumbles 60% as high rates, inflation bite

The PIF is steering Saudi Arabia's ambitious economic agenda aimed at weaning the Gulf country's economy off oil

Saudi wealth fund net profit tumbles 60% in 2024 - Regional Media News

DUBAI (Reuters) -Saudi Arabia’s sovereign wealth fund’s net profit slumped 60% from a year earlier to 25.8 billion riyals ($6.9 billion) in 2024, it reported on Monday, hurt by high interest rates and inflation as well as impairments on some projects. The Public Investment Fund said in a statement that impairments primarily related to changes to operational plans and increases in budgeted costs. The fund, which has more than $1 trillion in asset…