The Saudi sovereign Public Investment Fund retained shares worth $30.9 billion at the end of 2022, down from $36.8 billion at the end of September, affected by the drop in the value of the American electric car maker, Lucid. The Public Investment Fund invested over $1 billion in Lucid to diversify the local economy. Lucid has shared its plans to build its overseas factory in Saudi Arabia.
The valuation of the shares of the Saudi Public Investment Fund decreased significantly in the fourth quarter of 2022
