Public Investment Fund
Sovereign wealth fund of Saudi Arabia
- Entries
- 10
- On the record
- 0
- Stories
- 1
- Latest entry
- Nov 5, 2026
The record
The Public Investment Fund is Saudi Arabia's sovereign wealth fund. It was established in 1971 under Royal Decree No. M/24, initially to help set up companies of foundational importance to the Saudi economy. A March 2015 Council of Ministers resolution placed it under the Council of Economic and Development Affairs, with Crown Prince Mohammed bin Salman as chairman. The fund's website lists him as chairman and Yasir Al-Rumayyan as governor, and puts its assets under management at more than $900 billion.
Its move into U.S. sport brought it before Congress. When the PGA Tour announced in June 2023 that it would merge with Saudi-backed LIV Golf, CBS News reported that the fund owned 93% of LIV, citing Golf.com, and that Al-Rumayyan would sit on the new entity's board. At a Senate investigations subcommittee hearing that July, PGA Tour officials said the fund would contribute more than $1 billion. Al-Rumayyan was asked to attend and did not appear.
In September 2025 the fund joined Silver Lake and Affinity Partners in agreeing to buy Electronic Arts for $210 a share, an enterprise value of about $55 billion, keeping its existing 9.9% stake in the company; EA announced in an August 2026 filing that the deal had closed. In April 2026 the fund said it would stop funding LIV Golf at the end of the season. The league's wind-down in bankruptcy court is covered in the story on this file.
Roles and honours on the record
- 1971 Established under Royal Decree No. M/24 source
- 2015 Placed under the Council of Economic and Development Affairs, chaired by Crown Prince Mohammed bin Salman source
- as of 2026 Chairman Mohammed bin Salman; Governor Yasir Othman Al-Rumayyan source
- as of 2023 Majority owner of LIV Golf, with a 93% stake according to Golf.com source
- 2026 Member of the consortium that acquired Electronic Arts, with Silver Lake and Affinity Partners source
Every entry, newest first
- Reported
PIF lawyer told the court the fund respects the decision and expects an orderly wind-down by year end, per BBC Sport. LIV Golf tells court it will wind down after $5B+ Saudi cash
- Reported
LIV said the PIF agreed to provide $49.6M in bankruptcy financing, subject to court approval, per AP. LIV Golf tells court it will wind down after $5B+ Saudi cash
Stories in this file
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The record, entry by entry
- 1971 Official The fund was established under Royal Decree No. M/24 and initially helped set up companies of foundational importance to the Saudi economy. Public Investment Fund, Our History
- 2015-03 Official Council of Ministers Resolution 270 placed the fund under the Council of Economic and Development Affairs, with Crown Prince Mohammed bin Salman as chairman. Public Investment Fund, Our History
- 2017 Official The fund announced the Public Investment Fund Program for 2018-2020 and launched the Future Investment Initiative. It introduced a new bylaw in 2019 and an investment strategy for 2021-2025 in 2021. Public Investment Fund, Our History
- 2023-06-06 Reported The PGA Tour announced it would merge with LIV Golf in a new entity whose board would include Al-Rumayyan, a deal meant to end all litigation between the parties. The fund was LIV's majority owner with a 93% stake, according to Golf.com, CBS News reported. CBS News report
- 2023-07-11 Reported At a Senate Permanent Subcommittee on Investigations hearing, PGA Tour COO Ron Price said the fund would contribute more than $1 billion. Al-Rumayyan and LIV CEO Greg Norman were asked to attend and did not appear, and the subcommittee released a draft agreement that lawmakers said would limit players from criticizing the fund or Saudi Arabia, CBS News reported. CBS News report
- 2025-09-29 Official Electronic Arts agreed to be acquired by a consortium of the fund, Silver Lake and Affinity Partners for $210 a share in cash, an enterprise value of approximately $55 billion. The fund would roll over its existing 9.9% stake. Electronic Arts press release, Form 8-K exhibit 99.1, SEC filing
- 2026-04 Reported The fund announced it would stop funding LIV Golf at the end of the season, and the league began looking for new backers, CBS News reported. CBS News video report
- 2026-08 Official Electronic Arts announced that its acquisition by the consortium had closed, after stockholders approved it on December 22, 2025, and that its stock would be delisted from Nasdaq. The release noted the fund had been a minority investor in EA for more than five years. Electronic Arts press release, Form 8-K exhibit 99.1, SEC filing