Saudi Arabia
How the Kingdom is spending $3.5 trillion to build an economy that survives when the oil runs out — from scratch, in the desert.
Saudi Arabia had an oil problem. Oil revenues funded everything. Healthcare infrastructure, defense, all oil money. If oil ran out, the entire economy collapsed. Vision 2030 was the government's bet that it could transform. $500 billion invested in any of them, a futuristic city from scratch, building a post-oil economy while still having oil. The public investment fund became the king-maker. Billions invested globally in technology companies, sports teams, and entertainment properties. Saudi Arabia wanted to build a new economy that didn't depend on extraction. Tourism, technology, entertainment, and finance would replace oil revenues. The sovereign wealth fund became a mega investor in global markets and industries.
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