Saudi PIF Financial Losses Exceed $5 Billion
Several Saudi companies have reported financial results and related-party transactions. United Insurance Cooperative incurred losses of 256.22 million riyals in 2020, with a 18% drop in revenue. Red Sea Global reported dealings with Al Dabbagh Holding exceeding 33.75 million riyals, primarily through an interest-free loan. Tadawul Group's profits fell to 55.6 million riyals in Q1 2026, despite increased operating revenues. South African golf commentator Dean Burmester has expressed support for the LIV Golf league despite rumors regarding Saudi Arabia's Public Investment Fund (PIF). Reports suggest the PIF could withdraw financial support due to growing losses totaling more than $5 billion. Burmester's comments come amid uncertainty regarding the league's future funding.
Topics
Developing
- 908d Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore.
- 907d Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur.
- 907d Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est.
- 907d Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium.
Sources · 7 independent
SBA Al-Ekhbariya
“تكبّدت الشركة المتحدة للتأمين التعاوني خسائر قدرت بمائتين وستن وخمسين مليول ومائتين وعشرين ألف ريال خلال عام الفين وخمسين وعشرين”
SAfm
“Leaver has been thrust into the spotlight amid swirling rumors that the PIF could pull out amid growing financial losses that have reportedly totaled more than $5 billion.”
Unlock the full story
Get a Pro subscription or above to see the live story progression and the full list of independent sources confirming each event as they happen.
Log in to upgrade