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HRH Crown Prince: The Kingdom is Moving in The Right Direction and There Is A Big Deal Will Be Announced After 2 Weeks 15 Riyadh

Bloomberg: I am interested when you say that you didn't call yourself a reformer because in some of the big interviews you gave in 2016, you were asked are you the Margaret Thatcher of Saudi Arabia you said absolutely. Are you still the Margaret Thatcher?

MBS: Maybe they mean some person bringing something new to the country. I don't care how the world views me as much as I care about what's in the interest of the country and the Saudi people. Whatever serves the Saudi people and Saudi Arabia as a country, I will do it with full force, regardless of the impressions that it will create about me. If it's good, thank you, that's great. If it's bad, I will try to clarify myself. If it works, good, if it doesn't work I have to do what's good for my country and for my people.

Bloomberg: In 2016, you told us that Aramco ownership will be transferred to the PIF. Is this still the plan?

MBS: No. Aramco's ownership will continue to be in the hands of the Saudi government, but the money of the IPO will go to the PIF.

Bloomberg: How do you evaluate the PIF so far? Again in 2016 the strategy that you gave us was 50% investments domestically 50% investments globally, excluding Aramco.

MBS: That's right.

Bloomberg: Where do we stand today with the PIF?

MBS: We are now above $300 billion, we're getting close to $400 billion. Our target in 2020 is around $600 billion. I believe we will surpass that target in 2020.

Bloomberg: Is it now 50-50?

MBS: Now it's more than 50 in Saudi Arabia and less than 50 outside Saudi Arabia that's why we are investing in more places next year.

Bloomberg: One of the places you invested in was SoftBank. Will you be a part of the other $100 billion they're seeking?

MBS: Of course. Definitely. We are the creators of SoftBank vision fund. We have 45 percent. Without the PIF, there will be no SoftBank vision fund.

Bloomberg: How much of the new $100 billion?

MBS: Same amount mostly.

Bloomberg: Another $45 billion?

MBS: That's right.

Bloomberg: So a total of $90 billion.

MBS: That's right. That means we have a huge benefit from the first one. We would not put, as PIF, another $45 billion if we didn't see huge income in the first year with the first $45 billion.

Source: Saudi Press Agency

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Bloomberg: I am interested when you say that you didn't call yourself a reformer because in some of the big interviews you gave in 2016, you were asked are you the Margaret Thatcher of Saudi Arabia you said absolutely. Are you still the Margaret Thatcher?

MBS: Maybe they mean some person bringing something new to the country. I don't care how the world views me as much as I care about what's in the interest of the country and the Saudi people. Whatever serves the Saudi people and Saudi Arabia as a country, I will do it with full force, regardless of the impressions that it will create about me. If it's good, thank you, that's great. If it's bad, I will try to clarify myself. If it works, good, if it doesn't work I have to do what's good for my country and for my people.

Bloomberg: In 2016, you told us that Aramco ownership will be transferred to the PIF. Is this still the plan?

MBS: No. Aramco's ownership will continue to be in the hands of the Saudi government, but the money of the IPO will go to the PIF.

Bloomberg: How do you evaluate the PIF so far? Again in 2016 the strategy that you gave us was 50% investments domestically 50% investments globally, excluding Aramco.

MBS: That's right.

Bloomberg: Where do we stand today with the PIF?

MBS: We are now above $300 billion, we're getting close to $400 billion. Our target in 2020 is around $600 billion. I believe we will surpass that target in 2020.

Bloomberg: Is it now 50-50?

MBS: Now it's more than 50 in Saudi Arabia and less than 50 outside Saudi Arabia that's why we are investing in more places next year.

Bloomberg: One of the places you invested in was SoftBank. Will you be a part of the other $100 billion they're seeking?

MBS: Of course. Definitely. We are the creators of SoftBank vision fund. We have 45 percent. Without the PIF, there will be no SoftBank vision fund.

Bloomberg: How much of the new $100 billion?

MBS: Same amount mostly.

Bloomberg: Another $45 billion?

MBS: That's right.

Bloomberg: So a total of $90 billion.

MBS: That's right. That means we have a huge benefit from the first one. We would not put, as PIF, another $45 billion if we didn't see huge income in the first year with the first $45 billion.

Source: Saudi Press Agency

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