Capital · operating
PIF (chairs it directly — commands ~$900B AUM, targeting $1T+ by 2025) + Saudi Aramco (state/PIF/Sanabil control ~98.19%, ~$1.66T market cap) + the Saudi government fiscal budget. No fee revenue (sovereign, like PIF itself) — 'operating' is PIF investment return plus Aramco production revenue/dividends flowing to the state he heads.
Sourced figures 2
- kestrel board.yaml pif capitalization axis commands ~$900B AUM (targeting $1T+)
- Wikipedia — Saudi Aramco Saudi government + PIF + Sanabil hold ~98.19% of Aramco; market cap ~$1.66T (Nov 2025)
the working
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A claim is one metric we assert about a node — the value is the summary, this page is the receipt. Sourced from kestrel; supersedes-history not yet shown. Back to Mohammed bin Salman.