Saudi Arabia to invest another $45b in SoftBank's next Vision Fund

Masayoshi Son, left, and Mohammed bin Salman in New York on March 27. Photographer: Jeenah Moon/Bloomberg

Saudi Arabia is preparing to double-down on its bet that Masayoshi Son can pick the technology giants of the future. The country’s sovereign fund will make another $45 billion investment in Son’s second massive Vision Fund.

The Public Investment Fund, or PIF, is set to make the investment as it looks for ways to deploy a $170 billion windfall it’s expecting over the next three-to-four years. That money would come from the sale of a stake in Saudi Basic Industries Corp. and the initial public offering of state oil company Saudi Aramco, according to PIF Chairman Mohammed Bin Salman — who is also Saudi Arabia’s Crown Prince.

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