RIYADH: The total value of assets under management held by Saudi Arabia’s sovereign wealth fund reached $913 billion by the end of 2024, representing a 19 percent rise compared to the same period of the previous year.
In its 2024 Annual Report, the Public Investment Fund said that total revenue increased by 25 percent year on year, while cash balance remained strong and broadly unchanged.
The analysis follows Brand Finance’s recent ranking of PIF as the most valuable and fastest-growing sovereign wealth fund globally, with a brand value of $1.2 billion.
In July, a Global SWF study reported that the wealth fund had risen to fourth place globally among sovereign wealth funds, with assets exceeding $1 trillion, slightly higher than the figure in PIF’s annual report.
“PIF’s portfolio delivered year-on-year growth of assets under management of 19 percent to reach $913 billion. Capital deployment across priority sectors reached $56.8 billion in 2024, bringing cumulative investment since the beginning of 2021 to more than $171 billion,” said Yasir A. Al-Salman, chief financial officer of PIF.
