Saudi Arabia planning for the end of the oil age by creating a $2 TRILLION investment fund

[link to www.dailymail.co.uk]

Saudi Arabia is preparing for the end of the oil age by creating a $2trillion investment fund which is set to be ‘the largest on Earth’.

The Public Investment Fund (PIF) established by the kingdom’s second-in-line to the throne will eventually be large enough to buy Google, Apple and Microsoft with money to spare.

Deputy Crown Prince Mohammed bin Salman, who oversees the fund, claims that the initial public offering could happen as soon as next year.

It comes as Saudi Arabia, the world’s biggest crude exporter, insists that it will only freeze its oil output if other key producers, including Iran, take a similar measure.

‘What is left now is to diversify investments,’ the 30-year-old prince told Bloomberg, during an interview from the royal compound in the kingdom’s capital, Riyadh.

‘So within 20 years, we will be an economy or state that doesn’t depend mainly on oil.’