BRN Discussion Ongoing
- Thread starter TechGirl
- Start date
Pom down under
Top 20
DingoBorat
Slim
Does it strike anyone as odd, that there is no mention of AKIDA?..
It seems this was deliberate, as using "BrainChip" is a more direct reference to us..
Pom down under
Top 20
Im seeing redGood Morning Pom ,
Between $0.325 Au to $9.27 Au ....... give or take..
Regards,
Esq.
7für7
Top 20
Shorts are early birds… They are obsessed with BrainChip stock! I bet their profession is waking up in the morning just to press the sell button. I wouldn’t be surprised if they always have a pajama party the night before and wake up excited together.Good Morning Pom ,
Between $0.325 Au to $9.27 Au ....... give or take.
Regards,
Esq.
Tis but a mirage.Im seeing red
Early morning dump followed by a stunning UNCONTROLLED BUYING FRENZEY in the arvo.
There would have been a little bit of hydrocarbon money amongst the crowd in the video shown this morning.
Regards,
Esq.
Last edited:
Given the size of the market for this kind of product and the new innovation one might think this would warrant some sort of announcement - price sensitive or otherwise?
Earlyrelease
Regular
Onsor looks promising but from their website they had a mvp in 2023 and phase 3 in 2024 product development then clinical trials thus I think this announcement is more to do with the clinical trials aspect with the Ministry of Health. So whilst very good not holding my breath for royalties yet. One thing that does come to mind however is what chip and where did it come from. We made a few batches and and Megachip have the only contracts for production so are they still using demo stock or has one of these partners started production runs. All good questions which I think time will tell the answer too but I think this will be the start of a steady and consistent trickle of info this year which hopefully translates to a SP improvement in a steady and sustainable march northward
Attachments
toasty
Regular
No dollars attached yet so no announcement.............
Full disclosure - I am a shareholder of BLG.
Guided energy weapons, for example in the form of the British navy's 50 kW laser, are designed knock out incoming threats.
BluGlass (ASX: BLG) has developed a (relatively) low temperature process for making blue GaN lasers, and have just received a repeat order from a Central Florida Uni:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02915125-2A1579333
Directed energy weapons need pinpoint accuracy in real time, so I reckon that this would be an ideal application for a lidar scanner with SNN target recognition.
Guided energy weapons, for example in the form of the British navy's 50 kW laser, are designed knock out incoming threats.
BluGlass (ASX: BLG) has developed a (relatively) low temperature process for making blue GaN lasers, and have just received a repeat order from a Central Florida Uni:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02915125-2A1579333
Directed energy weapons need pinpoint accuracy in real time, so I reckon that this would be an ideal application for a lidar scanner with SNN target recognition.
White Horse
Regular
Look at the Vids. It's printed on the chip.!!!
Oman Sovereign Wealth Fund ,
IFSWF
https://www.ifswf.org › state-general-reserve-fund
Apparently this fund has around 2,000,000,000 Omani Rials ( = roughly $8,194,869,855 Au ) to play with.
Also of note........ Only a couple of sand dunes over......... resides this little mob,
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[COLOR=var(--color-subtle,#54595d)]
More than 60% of the fund's activities are within Saudi Arabia.[COLOR=var(--color-progressive,#36c)][6][/COLOR] Within Saudi Arabia, the fund's investments primarily go to private conglomerates owned by prominent Saudi business families who have close ties to the Saudi ruling family.[COLOR=var(--color-progressive,#36c)][6][/COLOR] Outside Saudi Arabia the fund's investments into prominent foreign assets such as [COLOR=var(--color-progressive,#36c)]Premier League[/COLOR] football club [COLOR=var(--color-progressive,#36c)]Newcastle United[/COLOR] have generated controversy due to the fund's lack of transparency and close control by the Saudi government, which has itself faced significant criticism around the [COLOR=var(--color-progressive,#36c)]lack of human rights in the country[/COLOR].[COLOR=var(--color-progressive,#36c)][7][/COLOR][COLOR=var(--color-progressive,#36c)][8][/COLOR]
[COLOR=var(--color-emphasized,#101418)]
The Saudi Arabian Public Investment Fund (PIF) was established by the King [COLOR=var(--color-progressive,#36c)]Faisal bin Abdulaziz Al Saud[/COLOR] in 1971[COLOR=var(--color-progressive,#36c)][9][/COLOR] by Royal Decree M/24[COLOR=var(--color-progressive,#36c)][10][/COLOR] with the stated intent to provide financing support for projects of strategic significance to the national economy.[COLOR=var(--color-progressive,#36c)][11][/COLOR] For much of its history, the PIF was a passive entity that oversaw the Saudi state's equity in listed firms. When neighboring petrostates began using their sovereign wealth funds for influence, Saudi Arabia followed them. The PIF expanded its staff from 50 in 2015 to nearly 500 in 2018.[COLOR=var(--color-progressive,#36c)][9][/COLOR]
In July 2014 the Council of Ministers granted the PIF authority to fund new companies inside and outside the Kingdom, either independently or in cooperation with the public and private sectors, without the council's prior approval.[COLOR=var(--color-progressive,#36c)][12][/COLOR] In March 2015, oversight of PIF was moved from the [COLOR=var(--color-progressive,#36c)]Ministry of Finance[/COLOR] to the [COLOR=var(--color-progressive,#36c)]Council of Economic and Development Affairs[/COLOR] (CEDA). As part of this process, a new PIF was appointed, chaired by Crown Prince [COLOR=var(--color-progressive,#36c)]Mohammed bin Salman[/COLOR].[COLOR=var(--color-progressive,#36c)][13][/COLOR] The board says PIF is aligned with the government's [COLOR=var(--color-progressive,#36c)]Vision 2030[/COLOR][COLOR=var(--color-progressive,#36c)][14][/COLOR] with the aim to diversify the economy.[COLOR=var(--color-progressive,#36c)][15][/COLOR] To bolster the resources of the PIF and help in the financing of investments into foreign companies such as Uber and Tesla, the PIF received cash from the [COLOR=var(--color-progressive,#36c)]Saudi Central Bank[/COLOR], issued debt, and benefitted from the proceeds of the privatisation of Saudi state assets.[COLOR=var(--color-progressive,#36c)][9][/COLOR]
In 2022 a 4% stake in ownership of [COLOR=var(--color-progressive,#36c)]Saudi Aramco[/COLOR] was transferred to the PIF, which was repeated in 2023 as part of the funds plan to increase [COLOR=var(--color-progressive,#36c)]assets under management[/COLOR] to over $1 trillion by 2025. The shares for the second 4% stake in 2023 were valued around $78 billion. The move was intended to take advantage of higher hydrocarbon prices towards funding the expansion of the PIF in its overarching goal to diversify investments.[COLOR=var(--color-progressive,#36c)][16][/COLOR]
A 2021 report by Global SWF found that PIF's Governance, Sustainability, and Resilience (GSR) score had risen by 12% to an overall score of 40% (out of 100%) that year. This was partially attributed to the fact that PIF had started to build a dedicated ESG (Environmental, Social, and Sustainability) team.[COLOR=var(--color-progressive,#36c)][17][/COLOR] The fund achieved an annual return of around 8% between 2018 and 2022.[COLOR=var(--color-progressive,#36c)][18][/COLOR]
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The PIF has 38% stake in Posco Engineering & Construction Co., a 5% stake in [COLOR=var(--color-progressive,#36c)]Uber[/COLOR] (for $3.5 billion), and a 5% stake in the video game companies [COLOR=var(--color-progressive,#36c)]Capcom[/COLOR] and [COLOR=var(--color-progressive,#36c)]Nexon[/COLOR] (for $1 billion).[COLOR=var(--color-progressive,#36c)][19][/COLOR] In March 2016, it was announced that ownership of [COLOR=var(--color-progressive,#36c)]Saudi Aramco[/COLOR] would be transferred to the PIF and that the Kingdom will seek to list 5 percent of Aramco's shares by 2017.[COLOR=var(--color-progressive,#36c)][20][/COLOR] PIF owns [COLOR=var(--color-progressive,#36c)]Qiddiya[/COLOR],[COLOR=var(--color-progressive,#36c)][21][/COLOR] spearheads the [COLOR=var(--color-progressive,#36c)]Red Sea Project[/COLOR] for luxury beach resorts,[COLOR=var(--color-progressive,#36c)][22][/COLOR][COLOR=var(--color-progressive,#36c)][23][/COLOR] and owns the closed joint-stock company named [COLOR=var(--color-progressive,#36c)]Neom[/COLOR].[COLOR=var(--color-progressive,#36c)][24][/COLOR][COLOR=var(--color-progressive,#36c)][25][/COLOR] PIF owns a 5.7% stake (valued at $500 million) in concert distributor [COLOR=var(--color-progressive,#36c)]Live Nation[/COLOR].[COLOR=var(--color-progressive,#36c)][26][/COLOR] In 2020, PIF purchased minority stakes in major U.S. companies including [COLOR=var(--color-progressive,#36c)]Boeing[/COLOR], [COLOR=var(--color-progressive,#36c)]Meta Platforms[/COLOR] (then Facebook) and [COLOR=var(--color-progressive,#36c)]Citigroup[/COLOR].[COLOR=var(--color-progressive,#36c)][27][/COLOR] PIF disclosed a $713.7 million stake in [COLOR=var(--color-progressive,#36c)]Boeing[/COLOR], around $522 million in [COLOR=var(--color-progressive,#36c)]Citigroup[/COLOR], a $522 million stake in Facebook, a $495.8 million stake in [COLOR=var(--color-progressive,#36c)]Disney[/COLOR] and a $487.6 million stake in [COLOR=var(--color-progressive,#36c)]Bank of America[/COLOR]. It also disclosed a small stake in [COLOR=var(--color-progressive,#36c)]Berkshire Hathaway[/COLOR].[COLOR=var(--color-progressive,#36c)][28][/COLOR] PIF also disclosed an $827.7 million stake in oil company [COLOR=var(--color-progressive,#36c)]BP[/COLOR].[COLOR=var(--color-progressive,#36c)][29][/COLOR] In 2020, PIF purchased a 2.32% stake (valued at $1.5 billion) in India's [COLOR=var(--color-progressive,#36c)]Jio Platforms[/COLOR],[COLOR=var(--color-progressive,#36c)][30][/COLOR][COLOR=var(--color-progressive,#36c)][31][/COLOR] and reduced its holdings in US stocks to $7 billion from $10.1 billion in the third quarter. It instead left a stake of $2.7 billion in [COLOR=var(--color-progressive,#36c)]Uber[/COLOR].[COLOR=var(--color-progressive,#36c)][32][/COLOR]
In 2016 [COLOR=var(--color-progressive,#36c)]SoftBank Group[/COLOR] and the PIF announced that they would establish a [COLOR=var(--color-progressive,#36c)]SoftBank Vision Fund[/COLOR] which aims to invest up to $45 billion over five years in the tech sector.[COLOR=var(--color-progressive,#36c)][33][/COLOR] The [COLOR=var(--color-progressive,#36c)]SoftBank Group[/COLOR] confirmed that during the fiscal year 2019–2020, the Vision Fund, in which Saudi Arabia invested $45 billion, incurred a loss calculated at $17.7 billion, after the value of investments was written down. The losses were related to the investments in [COLOR=var(--color-progressive,#36c)]WeWork[/COLOR] and [COLOR=var(--color-progressive,#36c)]Uber Technologies Inc.[/COLOR] In the 39-year history of SoftBank, the Saudi Arabia-backed funds paid the group its worst-ever losses, where the overall company losses were 1.36 trillion yen (more than $12.5 billion).[COLOR=var(--color-progressive,#36c)][34][/COLOR]
During the 2017 Saudi-US CEO Forum, which was part of President [COLOR=var(--color-progressive,#36c)]Donald Trump[/COLOR]'s official trip to Saudi Arabia, PIF announced plans to "invest $40 billion in infrastructure projects, mostly in the U.S." Blackstone, whose CEO and founder—[COLOR=var(--color-progressive,#36c)]Stephen A. Schwarzman[/COLOR]—is a top supporter of Trump, entered into a non-binding memorandum by which the PIF committed $20 billion to the project.[COLOR=var(--color-progressive,#36c)][35][/COLOR] During the CEO Forum US-Saudi, arms deals were announced including a pledge to "assemble 150 Lockheed Martin Black Hawk helicopters" in Saudi Arabia, representing 450 jobs in Saudi Arabia" as part of the "$6 billion deal for Black Hawks."[COLOR=var(--color-progressive,#36c)][36][/COLOR]
In October 2017 it was announced that PIF would aim to increase its assets under management to more than $400 billion and create more than 20,000 new jobs by 2020.[COLOR=var(--color-progressive,#36c)][37][/COLOR][COLOR=var(--color-progressive,#36c)][38][/COLOR] Al-Rumayyan presented a new investment strategy for the fund, based on four objectives of maximizing assets, investing in new sectors, localizing technologies, and developing economic partnerships.[COLOR=var(--color-progressive,#36c)][37][/COLOR] He also said PIF would borrow conservatively to finance specific assets and would seek further partnerships such as those with [COLOR=var(--color-progressive,#36c)]Blackstone[/COLOR] and [COLOR=var(--color-progressive,#36c)]SoftBank[/COLOR].[COLOR=var(--color-progressive,#36c)][39][/COLOR][COLOR=var(--color-progressive,#36c)][40][/COLOR]
In September 2018 Al-Rumayyan announced PIF's first step in incorporating loans and debt instruments into its long-term strategy, with an $11 billion loan facility.[COLOR=var(--color-progressive,#36c)][41][/COLOR] The following month he said the fund would aim to increase the percentage of international assets in its portfolio from 10% to 50% by 2030.[COLOR=var(--color-progressive,#36c)][42][/COLOR]
At the [COLOR=var(--color-progressive,#36c)]Milken Institute[/COLOR] in [COLOR=var(--color-progressive,#36c)]Abu Dhabi[/COLOR] in February 2019, Al-Rumayyan announced that PIF would open new offices in London, New York City and San Francisco, and would increase its workforce from 450 to 700 by the end of 2019.[COLOR=var(--color-progressive,#36c)][43][/COLOR][COLOR=var(--color-progressive,#36c)][44][/COLOR] He also said the fund would invest in [COLOR=var(--color-progressive,#36c)]renewable energy[/COLOR] projects in Saudi Arabia, including the local manufacture of [COLOR=var(--color-progressive,#36c)]solar panels[/COLOR].[COLOR=var(--color-progressive,#36c)][43][/COLOR]
In March 2019 it was revealed that PIF paid a New York communications firm, Karv Communications, $120,000 a month to repair Saudis' damaged reputation after the [COLOR=var(--color-progressive,#36c)]assassination of Jamal Khashoggi[/COLOR].[COLOR=var(--color-progressive,#36c)][45][/COLOR]
In 2021 they purchased stakes in the [COLOR=var(--color-progressive,#36c)]American video game[/COLOR] companies [COLOR=var(--color-progressive,#36c)]Electronic Arts[/COLOR], [COLOR=var(--color-progressive,#36c)]Take-Two Interactive[/COLOR], and [COLOR=var(--color-progressive,#36c)]Activision Blizzard[/COLOR]. In May 2022, they purchased a 5% stake in the [COLOR=var(--color-progressive,#36c)]Japanese video game[/COLOR] company [COLOR=var(--color-progressive,#36c)]Nintendo[/COLOR],[COLOR=var(--color-progressive,#36c)][46][/COLOR] and the following month, an 8% stake in [COLOR=var(--color-progressive,#36c)]Embracer Group[/COLOR] with a $1 billion investment.[COLOR=var(--color-progressive,#36c)][47][/COLOR]
PIF owned a major indirect stake in Twitter prior to its [COLOR=var(--color-progressive,#36c)]acquisition[/COLOR] by [COLOR=var(--color-progressive,#36c)]Elon Musk[/COLOR] although many [COLOR=var(--color-progressive,#36c)]Saudis[/COLOR] who use the platform for political dissent and activism are arbitrarily arrested and imprisoned.[COLOR=var(--color-progressive,#36c)][48][/COLOR]
In November 2023 PIF acquired a 10% stake in [COLOR=var(--color-progressive,#36c)]Heathrow Airport[/COLOR] after [COLOR=var(--color-progressive,#36c)]Ferrovial[/COLOR] sold its 25% share.[COLOR=var(--color-progressive,#36c)][49][/COLOR] The remaining 15% was acquired by [COLOR=var(--color-progressive,#36c)]Ardian[/COLOR].[COLOR=var(--color-progressive,#36c)][49][/COLOR] Subsequently on 15 December 2024, it was reported that Ardian and PIF have successfully acquired 22.6% and 15% respectively of stakes in Heathrow Airport for a combined US$4.12 billion from Ferrovial and some shareholders in FGP TopCo.[COLOR=var(--color-progressive,#36c)][50][/COLOR]
PIF acquired a 49% stake in [COLOR=var(--color-progressive,#36c)]Rocco Forte Hotels[/COLOR] in December 2023, valuing the hotel group at £1.4 billion.[COLOR=var(--color-progressive,#36c)][51][/COLOR]
In 2024 PIF acquired a 38% share of the HOLON Gmbh, Germany. HOLON is a subcompany of the [COLOR=var(--color-progressive,#36c)]Benteler Group[/COLOR].[COLOR=var(--color-progressive,#36c)][52][/COLOR] HOLON is launching the worldwide first electric autonomous shuttle with automotive standards in 2026.[/COLOR]
How much does the Saudi sovereign wealth fund have?
US$930 billion
The Public Investment Fund (PIF; Arabic: صندوق الاستثمارات العامة) is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of US$930 billion (£718.2 billion).
.
Getting goose bumps just thinking about it.
Regards,
Esq.
Oman Investment Authority
IFSWF
https://www.ifswf.org › state-general-reserve-fund
Apparently this fund has around 2,000,000,000 Omani Rials ( = roughly $8,194,869,855 Au ) to play with.
Also of note........ Only a couple of sand dunes over......... resides this little mob,
[COLOR=var(--color-emphasized,#101418)]Public Investment Fund
[COLOR=var(--color-progressive,#36c)]21 languages[/COLOR]
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From Wikipedia, the free encyclopedia[COLOR=var(--color-subtle,#54595d)]
Public Investment Fund
�Native name | صندوق الإستثمارات العامة |
|---|---|
Founded | 17 August 1971; 53 years ago |
Founder | [COLOR=var(--color-progressive,#36c)]Faisal bin Abdulaziz[/COLOR] |
Headquarters | [COLOR=var(--color-progressive,#36c)]Riyadh[/COLOR] , [COLOR=var(--color-progressive,#36c)]Saudi Arabia[/COLOR] |
Key people | |
| [COLOR=var(--color-progressive,#36c)]US$[/COLOR]930 billion (March 2024)[COLOR=var(--color-progressive,#36c)][1][/COLOR] | |
Owner | [COLOR=var(--color-progressive,#36c)]Government of Saudi Arabia[/COLOR] |
Website | [COLOR=var(--color-progressive,#36c)]pif.gov.sa[/COLOR] [COLOR=var(--color-progressive,#36c)]
[/COLOR] |
[/COLOR]
The Public Investment Fund (PIF; Arabic: صندوق الاستثمارات العامة) is the [COLOR=var(--color-progressive,#36c)]sovereign wealth fund[/COLOR] of [COLOR=var(--color-progressive,#36c)]Saudi Arabia[/COLOR]. It is among the largest sovereign wealth funds in the world with total estimated assets of [COLOR=var(--color-progressive,#36c)]US$[/COLOR]930 billion ([COLOR=var(--color-progressive,#36c)]£[/COLOR]718.2 billion).[COLOR=var(--color-progressive,#36c)][2][/COLOR] It was created in 1971 for the purpose of investing funds on behalf of the [COLOR=var(--color-progressive,#36c)]Government of Saudi Arabia[/COLOR].[COLOR=var(--color-progressive,#36c)][3][/COLOR] The wealth fund is controlled by Crown Prince [COLOR=var(--color-progressive,#36c)]Mohammed bin Salman[/COLOR], Saudi Arabia's de facto ruler since 2015.[COLOR=var(--color-progressive,#36c)][4][/COLOR][COLOR=var(--color-progressive,#36c)][5][/COLOR]More than 60% of the fund's activities are within Saudi Arabia.[COLOR=var(--color-progressive,#36c)][6][/COLOR] Within Saudi Arabia, the fund's investments primarily go to private conglomerates owned by prominent Saudi business families who have close ties to the Saudi ruling family.[COLOR=var(--color-progressive,#36c)][6][/COLOR] Outside Saudi Arabia the fund's investments into prominent foreign assets such as [COLOR=var(--color-progressive,#36c)]Premier League[/COLOR] football club [COLOR=var(--color-progressive,#36c)]Newcastle United[/COLOR] have generated controversy due to the fund's lack of transparency and close control by the Saudi government, which has itself faced significant criticism around the [COLOR=var(--color-progressive,#36c)]lack of human rights in the country[/COLOR].[COLOR=var(--color-progressive,#36c)][7][/COLOR][COLOR=var(--color-progressive,#36c)][8][/COLOR]
[COLOR=var(--color-emphasized,#101418)]
History
[COLOR=var(--color-subtle,#54595d)][[/COLOR][COLOR=var(--color-progressive,#36c)]edit[/COLOR][COLOR=var(--color-subtle,#54595d)]][/COLOR][/COLOR]
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[/COLOR]
PIF governor [COLOR=var(--color-progressive,#36c)]Yasir Al-Rumayyan[/COLOR] in 2016
[/COLOR]PIF governor [COLOR=var(--color-progressive,#36c)]Yasir Al-Rumayyan[/COLOR] in 2016
The Saudi Arabian Public Investment Fund (PIF) was established by the King [COLOR=var(--color-progressive,#36c)]Faisal bin Abdulaziz Al Saud[/COLOR] in 1971[COLOR=var(--color-progressive,#36c)][9][/COLOR] by Royal Decree M/24[COLOR=var(--color-progressive,#36c)][10][/COLOR] with the stated intent to provide financing support for projects of strategic significance to the national economy.[COLOR=var(--color-progressive,#36c)][11][/COLOR] For much of its history, the PIF was a passive entity that oversaw the Saudi state's equity in listed firms. When neighboring petrostates began using their sovereign wealth funds for influence, Saudi Arabia followed them. The PIF expanded its staff from 50 in 2015 to nearly 500 in 2018.[COLOR=var(--color-progressive,#36c)][9][/COLOR]
In July 2014 the Council of Ministers granted the PIF authority to fund new companies inside and outside the Kingdom, either independently or in cooperation with the public and private sectors, without the council's prior approval.[COLOR=var(--color-progressive,#36c)][12][/COLOR] In March 2015, oversight of PIF was moved from the [COLOR=var(--color-progressive,#36c)]Ministry of Finance[/COLOR] to the [COLOR=var(--color-progressive,#36c)]Council of Economic and Development Affairs[/COLOR] (CEDA). As part of this process, a new PIF was appointed, chaired by Crown Prince [COLOR=var(--color-progressive,#36c)]Mohammed bin Salman[/COLOR].[COLOR=var(--color-progressive,#36c)][13][/COLOR] The board says PIF is aligned with the government's [COLOR=var(--color-progressive,#36c)]Vision 2030[/COLOR][COLOR=var(--color-progressive,#36c)][14][/COLOR] with the aim to diversify the economy.[COLOR=var(--color-progressive,#36c)][15][/COLOR] To bolster the resources of the PIF and help in the financing of investments into foreign companies such as Uber and Tesla, the PIF received cash from the [COLOR=var(--color-progressive,#36c)]Saudi Central Bank[/COLOR], issued debt, and benefitted from the proceeds of the privatisation of Saudi state assets.[COLOR=var(--color-progressive,#36c)][9][/COLOR]
In 2022 a 4% stake in ownership of [COLOR=var(--color-progressive,#36c)]Saudi Aramco[/COLOR] was transferred to the PIF, which was repeated in 2023 as part of the funds plan to increase [COLOR=var(--color-progressive,#36c)]assets under management[/COLOR] to over $1 trillion by 2025. The shares for the second 4% stake in 2023 were valued around $78 billion. The move was intended to take advantage of higher hydrocarbon prices towards funding the expansion of the PIF in its overarching goal to diversify investments.[COLOR=var(--color-progressive,#36c)][16][/COLOR]
A 2021 report by Global SWF found that PIF's Governance, Sustainability, and Resilience (GSR) score had risen by 12% to an overall score of 40% (out of 100%) that year. This was partially attributed to the fact that PIF had started to build a dedicated ESG (Environmental, Social, and Sustainability) team.[COLOR=var(--color-progressive,#36c)][17][/COLOR] The fund achieved an annual return of around 8% between 2018 and 2022.[COLOR=var(--color-progressive,#36c)][18][/COLOR]
[COLOR=var(--color-emphasized,#101418)]
Investment projects
[COLOR=var(--color-subtle,#54595d)][[/COLOR][COLOR=var(--color-progressive,#36c)]edit[/COLOR][COLOR=var(--color-subtle,#54595d)]][/COLOR][/COLOR]The PIF has 38% stake in Posco Engineering & Construction Co., a 5% stake in [COLOR=var(--color-progressive,#36c)]Uber[/COLOR] (for $3.5 billion), and a 5% stake in the video game companies [COLOR=var(--color-progressive,#36c)]Capcom[/COLOR] and [COLOR=var(--color-progressive,#36c)]Nexon[/COLOR] (for $1 billion).[COLOR=var(--color-progressive,#36c)][19][/COLOR] In March 2016, it was announced that ownership of [COLOR=var(--color-progressive,#36c)]Saudi Aramco[/COLOR] would be transferred to the PIF and that the Kingdom will seek to list 5 percent of Aramco's shares by 2017.[COLOR=var(--color-progressive,#36c)][20][/COLOR] PIF owns [COLOR=var(--color-progressive,#36c)]Qiddiya[/COLOR],[COLOR=var(--color-progressive,#36c)][21][/COLOR] spearheads the [COLOR=var(--color-progressive,#36c)]Red Sea Project[/COLOR] for luxury beach resorts,[COLOR=var(--color-progressive,#36c)][22][/COLOR][COLOR=var(--color-progressive,#36c)][23][/COLOR] and owns the closed joint-stock company named [COLOR=var(--color-progressive,#36c)]Neom[/COLOR].[COLOR=var(--color-progressive,#36c)][24][/COLOR][COLOR=var(--color-progressive,#36c)][25][/COLOR] PIF owns a 5.7% stake (valued at $500 million) in concert distributor [COLOR=var(--color-progressive,#36c)]Live Nation[/COLOR].[COLOR=var(--color-progressive,#36c)][26][/COLOR] In 2020, PIF purchased minority stakes in major U.S. companies including [COLOR=var(--color-progressive,#36c)]Boeing[/COLOR], [COLOR=var(--color-progressive,#36c)]Meta Platforms[/COLOR] (then Facebook) and [COLOR=var(--color-progressive,#36c)]Citigroup[/COLOR].[COLOR=var(--color-progressive,#36c)][27][/COLOR] PIF disclosed a $713.7 million stake in [COLOR=var(--color-progressive,#36c)]Boeing[/COLOR], around $522 million in [COLOR=var(--color-progressive,#36c)]Citigroup[/COLOR], a $522 million stake in Facebook, a $495.8 million stake in [COLOR=var(--color-progressive,#36c)]Disney[/COLOR] and a $487.6 million stake in [COLOR=var(--color-progressive,#36c)]Bank of America[/COLOR]. It also disclosed a small stake in [COLOR=var(--color-progressive,#36c)]Berkshire Hathaway[/COLOR].[COLOR=var(--color-progressive,#36c)][28][/COLOR] PIF also disclosed an $827.7 million stake in oil company [COLOR=var(--color-progressive,#36c)]BP[/COLOR].[COLOR=var(--color-progressive,#36c)][29][/COLOR] In 2020, PIF purchased a 2.32% stake (valued at $1.5 billion) in India's [COLOR=var(--color-progressive,#36c)]Jio Platforms[/COLOR],[COLOR=var(--color-progressive,#36c)][30][/COLOR][COLOR=var(--color-progressive,#36c)][31][/COLOR] and reduced its holdings in US stocks to $7 billion from $10.1 billion in the third quarter. It instead left a stake of $2.7 billion in [COLOR=var(--color-progressive,#36c)]Uber[/COLOR].[COLOR=var(--color-progressive,#36c)][32][/COLOR]
In 2016 [COLOR=var(--color-progressive,#36c)]SoftBank Group[/COLOR] and the PIF announced that they would establish a [COLOR=var(--color-progressive,#36c)]SoftBank Vision Fund[/COLOR] which aims to invest up to $45 billion over five years in the tech sector.[COLOR=var(--color-progressive,#36c)][33][/COLOR] The [COLOR=var(--color-progressive,#36c)]SoftBank Group[/COLOR] confirmed that during the fiscal year 2019–2020, the Vision Fund, in which Saudi Arabia invested $45 billion, incurred a loss calculated at $17.7 billion, after the value of investments was written down. The losses were related to the investments in [COLOR=var(--color-progressive,#36c)]WeWork[/COLOR] and [COLOR=var(--color-progressive,#36c)]Uber Technologies Inc.[/COLOR] In the 39-year history of SoftBank, the Saudi Arabia-backed funds paid the group its worst-ever losses, where the overall company losses were 1.36 trillion yen (more than $12.5 billion).[COLOR=var(--color-progressive,#36c)][34][/COLOR]
During the 2017 Saudi-US CEO Forum, which was part of President [COLOR=var(--color-progressive,#36c)]Donald Trump[/COLOR]'s official trip to Saudi Arabia, PIF announced plans to "invest $40 billion in infrastructure projects, mostly in the U.S." Blackstone, whose CEO and founder—[COLOR=var(--color-progressive,#36c)]Stephen A. Schwarzman[/COLOR]—is a top supporter of Trump, entered into a non-binding memorandum by which the PIF committed $20 billion to the project.[COLOR=var(--color-progressive,#36c)][35][/COLOR] During the CEO Forum US-Saudi, arms deals were announced including a pledge to "assemble 150 Lockheed Martin Black Hawk helicopters" in Saudi Arabia, representing 450 jobs in Saudi Arabia" as part of the "$6 billion deal for Black Hawks."[COLOR=var(--color-progressive,#36c)][36][/COLOR]
In October 2017 it was announced that PIF would aim to increase its assets under management to more than $400 billion and create more than 20,000 new jobs by 2020.[COLOR=var(--color-progressive,#36c)][37][/COLOR][COLOR=var(--color-progressive,#36c)][38][/COLOR] Al-Rumayyan presented a new investment strategy for the fund, based on four objectives of maximizing assets, investing in new sectors, localizing technologies, and developing economic partnerships.[COLOR=var(--color-progressive,#36c)][37][/COLOR] He also said PIF would borrow conservatively to finance specific assets and would seek further partnerships such as those with [COLOR=var(--color-progressive,#36c)]Blackstone[/COLOR] and [COLOR=var(--color-progressive,#36c)]SoftBank[/COLOR].[COLOR=var(--color-progressive,#36c)][39][/COLOR][COLOR=var(--color-progressive,#36c)][40][/COLOR]
In September 2018 Al-Rumayyan announced PIF's first step in incorporating loans and debt instruments into its long-term strategy, with an $11 billion loan facility.[COLOR=var(--color-progressive,#36c)][41][/COLOR] The following month he said the fund would aim to increase the percentage of international assets in its portfolio from 10% to 50% by 2030.[COLOR=var(--color-progressive,#36c)][42][/COLOR]
At the [COLOR=var(--color-progressive,#36c)]Milken Institute[/COLOR] in [COLOR=var(--color-progressive,#36c)]Abu Dhabi[/COLOR] in February 2019, Al-Rumayyan announced that PIF would open new offices in London, New York City and San Francisco, and would increase its workforce from 450 to 700 by the end of 2019.[COLOR=var(--color-progressive,#36c)][43][/COLOR][COLOR=var(--color-progressive,#36c)][44][/COLOR] He also said the fund would invest in [COLOR=var(--color-progressive,#36c)]renewable energy[/COLOR] projects in Saudi Arabia, including the local manufacture of [COLOR=var(--color-progressive,#36c)]solar panels[/COLOR].[COLOR=var(--color-progressive,#36c)][43][/COLOR]
In March 2019 it was revealed that PIF paid a New York communications firm, Karv Communications, $120,000 a month to repair Saudis' damaged reputation after the [COLOR=var(--color-progressive,#36c)]assassination of Jamal Khashoggi[/COLOR].[COLOR=var(--color-progressive,#36c)][45][/COLOR]
In 2021 they purchased stakes in the [COLOR=var(--color-progressive,#36c)]American video game[/COLOR] companies [COLOR=var(--color-progressive,#36c)]Electronic Arts[/COLOR], [COLOR=var(--color-progressive,#36c)]Take-Two Interactive[/COLOR], and [COLOR=var(--color-progressive,#36c)]Activision Blizzard[/COLOR]. In May 2022, they purchased a 5% stake in the [COLOR=var(--color-progressive,#36c)]Japanese video game[/COLOR] company [COLOR=var(--color-progressive,#36c)]Nintendo[/COLOR],[COLOR=var(--color-progressive,#36c)][46][/COLOR] and the following month, an 8% stake in [COLOR=var(--color-progressive,#36c)]Embracer Group[/COLOR] with a $1 billion investment.[COLOR=var(--color-progressive,#36c)][47][/COLOR]
PIF owned a major indirect stake in Twitter prior to its [COLOR=var(--color-progressive,#36c)]acquisition[/COLOR] by [COLOR=var(--color-progressive,#36c)]Elon Musk[/COLOR] although many [COLOR=var(--color-progressive,#36c)]Saudis[/COLOR] who use the platform for political dissent and activism are arbitrarily arrested and imprisoned.[COLOR=var(--color-progressive,#36c)][48][/COLOR]
In November 2023 PIF acquired a 10% stake in [COLOR=var(--color-progressive,#36c)]Heathrow Airport[/COLOR] after [COLOR=var(--color-progressive,#36c)]Ferrovial[/COLOR] sold its 25% share.[COLOR=var(--color-progressive,#36c)][49][/COLOR] The remaining 15% was acquired by [COLOR=var(--color-progressive,#36c)]Ardian[/COLOR].[COLOR=var(--color-progressive,#36c)][49][/COLOR] Subsequently on 15 December 2024, it was reported that Ardian and PIF have successfully acquired 22.6% and 15% respectively of stakes in Heathrow Airport for a combined US$4.12 billion from Ferrovial and some shareholders in FGP TopCo.[COLOR=var(--color-progressive,#36c)][50][/COLOR]
PIF acquired a 49% stake in [COLOR=var(--color-progressive,#36c)]Rocco Forte Hotels[/COLOR] in December 2023, valuing the hotel group at £1.4 billion.[COLOR=var(--color-progressive,#36c)][51][/COLOR]
In 2024 PIF acquired a 38% share of the HOLON Gmbh, Germany. HOLON is a subcompany of the [COLOR=var(--color-progressive,#36c)]Benteler Group[/COLOR].[COLOR=var(--color-progressive,#36c)][52][/COLOR] HOLON is launching the worldwide first electric autonomous shuttle with automotive standards in 2026.[/COLOR]
How much does the Saudi sovereign wealth fund have?
US$930 billion
The Public Investment Fund (PIF; Arabic: صندوق الاستثمارات العامة) is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of US$930 billion (£718.2 billion).
.Getting goose bumps just thinking about it.
Regards,
Esq.
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Top of the Morning Diogenese ,
That Uni must have one hell of a pigion problem to warrant such a device.
Regards,
Esq.
Frangipani
Regular
The Onsor website has since been updated:
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Awesome contact address, too:
Knowledge Oasis Muscat
Sultanate of Oman
NEXA | Onsor Technologies
Awesome contact address, too:
Knowledge Oasis Muscat
Sultanate of Oman
Bravo
If ARM was an arm, BRN would be its biceps💪!
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