transferred to the PIF, and that the Kingdom planned to list 5% of Aramco's shares in an initial public offering by 2017.

Domestically, PIF owns and develops several large-scale projects. These include Qiddiya City, leadership of the Red Sea Project, and ownership of the closed joint-stock company Neom.

PIF also holds a 5.7% stake, valued at about $500 million, in concert and ticketing company Live Nation. In 2020, the fund purchased minority stakes in several major U.S. companies, including Boeing, Meta Platforms (then known

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