Saudi Arabia’s Sovereign Wealth Fund and the Global Landscape of State Assets
Saudi Arabia’s State Sovereign Fund has climbed the ranks to become the sixth largest state fund worldwide, boasting assets that reached 607.42 billion US dollars at the close of 2022. This position underscores the kingdom’s strategic emphasis on diversification and long term capital management, as documented by a leading exchange portal that tracks sovereign wealth activity.
According to the fund’s published strategy, the objective is to see asset holdings double by 2025, aiming for a minimum of 1.06 trillion dollars. The plan then envisions a substantial rise to 2.7 trillion dollars by 2030, reflecting a deliberate, multi year expansion across global markets and sectors. This trajectory highlights the patience, scale, and ambition embedded in Saudi Arabia’s approach to sovereign wealth management as it seeks to sustain economic resilience for a post oil era.
In the broader league table of state wealth funds, China Investment Corporation remains the leader with assets valued at about 1.35 trillion dollars. Compared with September 2021, CIC added roughly 129 billion dollars to its holdings, illustrating strong expansion in a period marked by significant global market shifts. Norway, previously a close contender, slipped to second place with about 1.13 trillion dollars in assets, reflecting a decline of around 133 billion dollars over the same interval.
Taking a macro view, the total assets held by state wealth funds around the world stood at approximately 10.12 trillion dollars as of September 2022, according to the latest published data, slightly down from 10.3 trillion dollars recorded a year earlier. This snapshot reveals ongoing adjustments in wealth fund portfolios amid changing commodity prices, geopolitical developments, and evolving investment strategies across major economies.
A notable development comes from Abdel Aziz bin Salman Al Saud, a senior figure in energy policy who heads the Saudi energy ministry. At a late November briefing he indicated that Saudi Arabia would deploy at least 769 billion dollars into energy projects. He explained that implementing three quarters of the proposed projects would necessitate investments of 260 billion riyals, equivalent to about 69 billion dollars, over the next decade. These figures reflect a strong link between sovereign capital planning and the kingdom’s longer term energy and industrial horizons, signaling how strategic energy investment can shape broader economic outcomes for years to come.