PIF was founded in 1971 and has an estimated total asset value of 500 billion USD. The head of this organization is the Crown Prince of Saudi Arabia – billionaire Mohammed bin Salman, who will inherit the throne of the rich country in the Middle East.

The acquisition of a football club is considered part of the habit of splurging on expensive possessions of Arab billionaires. According to the Wall Street Journal, the crown prince once spent $ 450 million for the famous painting Salvator Mundi by Leonardo da Vinci. While, according to the New York Times, the crown prince spent $ 300 million on a castle in France and he also spent $ 500 million to buy Serene – one of the largest luxury yachts in the world.

According to Spain’s Marca magazine, Crown Prince bin Salman’s total personal net worth is said to be about $17.7 billion. Although this figure is still behind billionaire Sheikh Mansour – owner of Man City with $23.14 billion – but backing Crown Prince Mohammed bin Salman is an entire Al Saud Royal family currently ruling the Kingdom. Saudi Arabia with huge total assets worth 1.77 trillion USD.

Meanwhile, billionaire Mansour is the Deputy Prime Minister of the United Arab Emirates (UAE) and comes from the Abu Dhabi royal family with a total net worth of $680 billion.

Among the Arab billionaires investing in football, President Nasser Al-Khelaifi of Paris Saint-Germain club holds a net worth of about $8.85 billion. He is also the head of Qatar Sport Investments – a branch of the Qatar Investment Authority, similar to Saudi Arabia’s PIF. Qatar’s investment fund holds assets worth around $300 billion, including London’s iconic The Shard and luxury shopping mall Harrods, along with stakes in companies such as Volkswagen and Barclays .