The Public Investment Fund (PIF) of Saudi Arabia is more than just a financial vehicle. It is a vision—an audacious blueprint for an entirely new national identity, grounded in diversification, cultural revival, and long-term prosperity. With billions of dollars in global and domestic assets, PIF is not merely investing in infrastructure or technology; it is investing in the very soul and future of Saudi Arabia.
As the Kingdom races toward the transformative milestones of Vision 2030, PIF is laying the foundation for something far more enduring: a legacy. This legacy is not just economic; it is psychological, sociocultural, and generational.
From redefining what it means to be Saudi in a modern globalized world to creating new narratives of national pride, PIF is shaping the legacy that future generations will inherit—not only in terms of wealth, but in terms of identity, opportunity, and global relevance
A Catalyst for Economic Diversification
Historically, Saudi Arabia’s economy has been heavily dependent on oil. For decades, hydrocarbons formed the bedrock of fiscal policy, job creation, and public expenditure. But this model, while lucrative, was vulnerable to global price shocks and lacked resilience in a rapidly changing world economy.
PIF’s interventions are radically altering this structure. Through strategic investments across 13 core sectors—from tourism and healthcare to education, manufacturing, entertainment, and finance—the fund is reimagining what Saudi Arabia’s economy can be.
What makes this impactful for future generations is:
- Job creation across sectors that didn’t previously exist in the Kingdom (e.g., gaming, biotech, AI)
- Attraction of foreign talent and reverse migration of Saudi expats, who now see opportunity back home
- Boosting of small and medium-sized enterprises (SMEs), ensuring that the economy isn’t just controlled by megacorporations or state institutions
This foundation means that tomorrow’s Saudi youth will not inherit a mono-resource economy, but rather a multi-industry innovation hub where entrepreneurship, creativity, and resilience are core tenets.
Building National Pride Through Global Excellence
There is a newfound confidence pulsing through the arteries of Saudi society—and PIF is one of the key arteries. By backing world-class projects and ventures, the fund is not only transforming landscapes but reshaping how Saudis perceive themselves on the global stage.
From owning international football clubs and electric vehicle manufacturers to constructing futuristic cities like NEOM and building luxury tourist destinations along the Red Sea, PIF is delivering proof points of excellence, both at home and abroad.
The result is a cultural and psychological shift:
- Young Saudis now believe their country can compete with—and even outperform—global peers.
- The narrative is no longer one of dependency or lagging behind, but one of leadership and innovation.
- Pride in local identity is being paired with global aspiration, creating a balanced cultural modernity.
This mindset transformation is, perhaps, PIF’s most underrated but powerful legacy.
Cultural Revival Rooted in Modern Expression
One of the most poignant aspects of PIF’s legacy is its role in reviving and modernizing Saudi culture. Through projects like Diriyah Gate, which celebrates the birthplace of the Kingdom, and initiatives promoting local arts, fashion, and cuisine, PIF is ensuring that cultural heritage is not only preserved but celebrated.
At the same time, modern cultural expressions are being encouraged through:
- Film production studios and media hubs
- Investment in music festivals, galleries, and design weeks
- Sponsorships of artists and creators who represent a new Saudi voice
The result is a society where tradition and modernity are not in conflict, but in conversation.
For future generations, this means they will grow up in a country where being Saudi is not a limitation—but a platform. Where the stories of the past coexist with the dreams of the future. Where identity is not binary, but beautifully multifaceted.
Empowering Women and Marginalized Communities
The empowerment of women has been a cornerstone of Vision 2030, and PIF has played a significant role in enabling this transformation. Through its projects and investments, PIF has helped create:
- Thousands of new jobs for women in fields ranging from hospitality to engineering and AI
- Female-led startups, incubated through PIF-backed platforms and venture funds
- Visibility for Saudi women in leadership, creative industries, and public life
This inclusion is not performative—it is structural. And it signals to the next generation of Saudi girls that there are no ceilings to their ambition.
Similarly, through initiatives in regional development, PIF is expanding opportunity beyond Riyadh and Jeddah—bringing investments into previously underdeveloped areas and ensuring geographic inclusion across the Kingdom.
This is the legacy of an equitable Saudi Arabia, where every citizen, regardless of gender or geography, can participate in the national story.
Strategic Sovereignty Through Economic Power
PIF’s global investment strategy is not just about profit—it’s about sovereignty. By owning stakes in international companies, infrastructure, and platforms, Saudi Arabia is becoming a stakeholder in the global economy, not merely a customer.
This has long-term implications:
- Protection from foreign pressure through diversified assets
- Influence in shaping future technologies and financial systems
- Control over critical resources like energy transition materials, logistics chains, and digital platforms
For future generations, this translates into a more secure, autonomous, and respected Saudi Arabia—one that is not at the mercy of global tides, but a captain in its own right.
Reshaping the Social Contract
Perhaps the most profound legacy of PIF is its indirect impact on the Saudi social contract. For decades, the implicit agreement was: the state provides, and the citizen receives. But with PIF’s involvement in the private sector, entrepreneurship, and community empowerment, a new model is emerging—one of shared responsibility and opportunity.
Young Saudis are not just consumers of the new Saudi Arabia—they are its architects. They are being encouraged to:
- Start businesses
- Lead initiatives
- Solve problems
- Create content
- Build movements
This co-creation model is more sustainable, more empowering, and more dignified. It shifts the dynamic from state-centric to society-centric progress, which is essential for a thriving post-oil economy.
In Conclusion: A Tapestry for Tomorrow
The legacy that PIF is weaving for Saudi Arabia is rich, complex, and layered.
It is not merely about money. It is about mindset. It is not simply about buildings and assets. It is about ambition, identity, and belonging. And it is not only about now. It is about then—about the future generations who will look back and see this moment as the great turning point.
They will see:
- An economy freed from the limits of a single resource
- A culture reborn and celebrated on its own terms
- A society that embraced equity, inclusion, and creativity
- A country that dared to lead, not just follow
In this sense, PIF is not just a sovereign wealth fund. It is a sovereign legacy fund—tasked not only with protecting wealth, but with planting the seeds of a flourishing civilization.
This is what legacy means: not what you build for yourself, but what you leave behind for others. And in this mission, PIF is not just succeeding. It is transforming.
