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MBS Wants Saudi Arabia Fund to Reach $2 Trillion in Assets
The crown prince’s ambitious plan for the Public Investment Fund would change the kingdom’s dependence on oil while creating the world’s largest pool of institutional money, but questions remain.
Saudi Arabia Crown Prince Mohammed bin Salman has unveiled an ambitious plan that would make the Public Investment Fund (PIF) the largest sovereign wealth fund in the world, increasing its roughly $400 billion in assets to $1.1 trillion by 2025 and $2 trillion by 2030.
Analysts question whether the plan is feasible, but one thing is certain: The 35-year-old de facto ruler of Saudi Arabia doesn’t think small.
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A former top intelligence agent, who alleges Saudi Arabia’s de facto ruler sent a hit squad to Canada to kill him, urged a court on Friday to free up his assets, saying the judge who froze them wasn’t given all the relevant facts.
In submissions before Ontario Superior Court, lawyers for Saad Aljabri argued the alleged assassination plot and other key facts should have been disclosed at a secret hearing last month.
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