Saudi Arabia Looks to Tap Wealthy Families in New Quest for Cash

Saudi Arabia is widening its search for capital, turning to some of the kingdom’s wealthiest families as the government looks to ease pressure on public finances and fund the next phase of Crown Prince Mohammed bin Salman’s economic overhaul.

As part of those efforts, the Public Investment Fund gathered about a dozen prominent families on the Red Sea last month to assess their appetite for participating in future opportunities, according to people familiar with the matter.