#444 genius behind Saudis overspending strategy
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#444 genius behind Saudis overspending strategy
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Saudi Arabia in the global sports and gaming sectors, citing examples like Cristiano Ronaldo’s immense salary and the acquisition of major stakes in companies like EA Games and Nintendo. This aggressive spending is presented not as random extravagance but as a critical element of the country's Vision 2030 survival strategy. Facing the long-term threat of volatile and finite oil dependency, the kingdom is urgently working to shift its economy towards non-oil revenue sources and achieve massive diversification by the end of the decade. These investments are strategically managed by the nation’s sovereign wealth fund, the Public Investment Fund (PIF), following a simple playbook: overpay for distribution, secure market share, and eventually set the terms within the global ecosystem. Ultimately, this massive investment seeks to gain global attention and soft power while establishing Saudi Arabia as a leading technology and entertainment hub, creating necessary jobs for its large, young population.