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Reading: Saudi Arabia Transfers Aramco Shares Worth $80 Billion to Wealth Fund
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The Wall Street Publication > Blog > Markets > Saudi Arabia Transfers Aramco Shares Worth $80 Billion to Wealth Fund
Markets

Saudi Arabia Transfers Aramco Shares Worth $80 Billion to Wealth Fund

Editorial Board Published February 13, 2022
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Saudi Arabia Transfers Aramco Shares Worth  Billion to Wealth Fund
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DUBAI—Saudi Arabia transferred shares worth about $80 billion in oil giant Aramco to its wealth fund as part of efforts to diversify the kingdom’s hydrocarbon-dependent economy.

The transfer of a 4% stake in state-owned Saudi Arabian Oil Co., known as Aramco, will support the Public Investment Fund’s plan to grow its assets under management to over $1 trillion by 2025, from about $480 billion currently, the Saudi government said Sunday.

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