Silicon Valley is awash with Saudi money. The Public Investment Fund, Saudi Arabia's sovereign wealth fund, has pumped billions of dollars into U.S. startups in recent years, part of an economic diversification strategy spearheaded by Crown Prince Mohammed bin Salman. But reports of recent turmoil at the fund, coupled with the reputational fallout over the murder of Saudi journalist Jamal Khashoggi by Saudi agents, could jeopardize what's become a comfortable funding stream for Silicon Valley.
Top western executives are leaving the PIF, according to a report from late December—sometimes leaving behind pay packages of $1 million and guaranteed bonuses. Several officials left within 18 months of beginning their tenure, while one, a former head of strategy, lasted just weeks.
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