Saudi Aramco is the world’s most valuable company, with a valuation of approximately $1.7 trillion.
Al-Rumayyan holds multiple roles of national importance in Saudi Arabia. He is a member of the Council of Economic and Development Affairs and serves as an advisor to the General Secretariat of the Council of Ministers. He is also chairman of the Decision Support Center and a board member of the Saudi Industrial Development Fund.
He plays a key role in overseeing Saudi Arabia’s flagship domestic projects. Al-Rumayyan sits on the boards of both the NEOM Company and the Red Sea Development Company, two mega developments central to the Kingdom’s Vision 2030 strategy.
As governor of the Public Investment Fund, Al-Rumayyan serves on the boards of several global companies in which PIF has invested, including Uber. He is also a board member of SoftBank and Arm. He does not receive remuneration for these roles.
His total compensation for serving as chairman of Saudi Aramco amounts to $302,000, inclusive of benefits and allowances.
Al-Rumayyan joined Saudi Aramco’s board in 2016 and was appointed chairman in 2019. His role at Aramco and its subsidiaries represents only a portion of his broader public-sector responsibilities.
He is best known internationally for leading the Public Investment Fund, Saudi Arabia’s sovereign wealth fund. In 2020, PIF made $8.2 billion in new investments across 25 global stocks, drawing significant attention from the international investment community.
PIF is the third-largest sovereign wealth fund in the Arab world, with assets valued at approximately $360 billion. In March and April 2020, Saudi Arabia transferred nearly $40 billion from its central bank reserves to support PIF’s investment strategy. The Kingdom aims to increase the fund’s assets to $400 billion.
Tangent
Saudi Aramco ranked first on The Middle East’s Top 100 Companies 2020 list. It is both the world’s most profitable and most valuable company, with more than 98 percent owned by the Saudi government, making it the Kingdom’s primary source of revenue. The company operates across the exploration, production, transportation, and sale of crude oil, natural gas, and chemicals, while maintaining a strong focus on innovation. In 2017 alone, Aramco was granted 230 patents by the U.S. Patent and Trademark Office.
