RIYADH, July 2 -- Saudi Arabia's sovereign wealth fund more than doubled its net profit in 2025, posting SR65.1 billion against SR25.8 billion the year before, as total assets climbed to $1.21 trillion, comfortably exceeding the $1 trillion target the Public Investment Fund had set as its benchmark for this decade.

The results, published Monday, show gross revenue rising 9 percent to SR449.93 billion and operating profit reaching SR77.9 billion, up from SR34.6 billion in 2024. The fund ended the year with over SR350 billion in cash and cash equivalents, a liquidity buffer that distinguishes PIF from sovereign funds that stretch their balance sheets to fund domestic megaproject commitments.

The most direct explanation for the profit surg...