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The desert kingdom is cutting off the tap: Saudi Arabia’s new plans for its petrodollars

6 May 2026 at 10:07

In recent years, Saudi Arabia has established itself as one of the world’s most active and ambitious investors. From financing the futuristic city of Neom on coast of the Red Sea to signing Cristiano Ronaldo for Al-Nassr and hosting a Formula 1 Grand Prix in Jeddah, not forgetting its investments in Western companies like SoftBank, Uber and Telefónica, Riyadh’s financial resources have left virtually no sector unexplored.

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© Yasser Bakhsh (GETTY IMAGES) (EL PAÍS)

Cristiano Ronaldo (left) plays a Saudi league match on January 21 in Abha, Saudi Arabia.
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