Crown Prince Mohammed bin Salman of Saudi Arabia at the G20 Summit on Nov. 15, 2022, in Nusa Dua, Indonesia. Leon Neal—Getty Images
Saudi Arabia’s Public Investment Fund (PIF) is at the forefront of the kingdom’s bid to diversify from its oil reliant economy, with high-profile bets on tech, sports, and airlines. And now it’s getting a present from Crown Prince Mohammed bin Salman: a $163 billion stake in Saudi Aramco, one of the world’s most profitable public companies.
The crown prince announced the completion of the transfer of an 8%…
