Saudi Sovereign Wealth Fund Invests Heavily in 2024, According to Report

The Saudi sovereign wealth fund’s massive spending spurs record-breaking global growth

Saudi Arabia’s Public Investment Fund (PIF) accounted for approximately 25% of the nearly $124 billion spent by sovereign wealth funds worldwide in 2023, according to a report published by Global SWF, an industry specialist that tracks sovereign investment funds. PIF’s significant spending of $31.5 billion contributed to the total spending of all sovereign wealth funds, which reached $123.8 billion last year. The surge in global stocks throughout the year played a role in boosting the assets under management by sovereign wealth funds globally to a record high of $11.2 trillion.