The governor of Saudi Arabia’s sovereign wealth fund said he’s prepared to invest more in the U.S. during President Donald Trump’s second term.
40% of the fund’s international investments go to the U.S., Yasir Al-Rumayyan said on Feb. 21 at the Saudi-sponsored Future Investment Initiative Priority summit in Miami. “And it could be much more,” he added, but “unfortunately sometimes when you want to procure more from the U.S. or invest more there are certain restrictions. I hope with the current administration these restrictions will be out and it will attract more investment.”
Al-Rumayyan said PIF, which counts Newcastle United and LIV Golf among its holdings, remains focused on sports and e-sports investments. He said that its portfolio company Savvy’s mandate is to “not only to invest in other companies in e- or video games, but to create esports activities.” Savvy-owned Scopely is in talks to acquire Niantic’s video-game business, Bloomberg News reported earlier this week.
Saudi Arabia was recently confirmed as the host of the 2034 World Cup for which it is building stadiums all over the country, Al-Rumayyan said.
