U.S. deregulation will bring more Saudi funds, PIF chief says

Saudi Public Investment Fund Governor Yasir Al-Rumayyan says the U.S. needs to cut red tape if it wants more investment from the Gulf kingdom.

Wrapping up the PIF’s FII Priority Summit in Miami Beach on Friday, Al-Rumayyan noted that 40% of the sovereign wealth fund’s current foreign investments are in American companies.

“It could have been much more,” the PIF chief said, pointing to a series of U.S. regulatory rules he described as barriers.

“I hope with the current administration, these restrictions [will] be ironed out and it will attract more investment back to the U.S.”

The three-day conference opened with a speech by President Donald Trump, who said he wants Saudi Arabia to invest $1 trillion in the U.S. over the next four years – a response to Crown Prince Mohammed bin Salman’s pledge to invest $600 billion.

PIF’s Yasir Al-Rumayyan sits with Trump, Musk at UFC 309 matches

Yasir Al-Rumayyan, Governor of Saudi Arabia’s Public Investment Fund, sat with U.S. President-elect Donald Trump and billionaire Elon Musk in ringside seats at the United Fighting Championship’s UFC 309 event on Saturday night in New York’s Madison Square Garden.

Al-Rumayyan, who is also Chairman of Saudi Aramco, the world’s biggest oil company, as well as the PIF-owned LIV Golf tournament and English football club Newcastle, showed up in a photo posted on Musk’s X social media platform, chatting with fellow golf lover Trump while watching the fights.

Al-Rumayyan has been negotiating for the past two years over a proposed merger with the PGA golf tour after luring some of the top professional golfers with paychecks of over $200 million. The two sides, along with Europe’s DP World Tour, reached a framework merger agreement in June 2023 that has yet to be finalized.

The former President’s Trump National Golf Club in Bedminister, N.J., hosted LIV Golf tournaments in 2022 and 2023.