Abu Dhabi’s ADIA joins sovereign wealth’s $1 trillion club
Trailing Norway and China, ADIA holds $1.06 trillion in assets, Kuwait's KIA has $980 billion and Saudi Arabia’s PIF stands at about $950 billion
The 40-story ADIA Tower on Abu Dhabi's Corniche. (Getty Images)
As 2024 careens to its close – with financial markets jumping even as geopolitical conflicts multiply – Gulf sovereign wealth funds continue to pile up assets.
Leading the way has been ADIA, the Abu Dhabi Investment Authority, which entered the elite $1 trillion club this year with assets reaching $1.06 trillion – trailing only Norway and China – the Sovereign Wealth Fund Institute reports.
Among regional neighbors close to joining the club, the Kuwait Investment Authority holds $980 billion in assets and Saudi Arabia’s Public Investment Fund has about $950 billion. The Qatar Investment Authority stands at $530 billion, according to the SWF ranking.
In Abu Dhabi, a regional center for investing sovereign wealth, Mubadala trails ADIA with $330 billion, followed by ADQ with $250 billion.