Saudi Arabia's $500 billion bet to build a futuristic city in the desert

Saudi Arabia is building a futuristic city in the middle of a vast desert — from scratch. Watch the full video here:

Saudi Arabia is building a futuristic city in the middle of a vast desert— from scratch.

A vital element of the country's Vision 2030 plan, the project is the brainchild of Saudi's de facto leader, Crown Prince Mohammed bin Salman, also known as MBS. The site covers an area of more than 10,000 square miles, about the same size as Massachusetts.

The Neom project is far from without controversy, though. Critics say it's another attempt by the crown prince to improve his image after U.S. intelligence officials

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CNBC /  🏆 12. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ezra Miller Pleads Guilty to Trespassing, Faces One Year of Probation and $500 FineEzra Miller pleaded guilty to unlawful trespassing. They must pay a $500 fine and face one year of probation. Miller agreed to 41 conditions as part of a plea deal, which include no drinking, random drug tests and a commitment to mental health treatment.
Read more »

Saudi Arabia's wealth fund raises Nintendo stake to 6%Saudi Arabia's Public Investment Fund (PIF) has increased its stake in Japan's Nintendo Co Ltd to 6%, a filing showed on Thursday, reflecting the sovereign wealth fund's growing exposure to the Japanese video gaming industry.
Read more »

Is WWE Being Sold to Saudi Arabia’s Public Investment Fund?The sovereign wealth fund of Saudi Arabia is known as the Public Investment Fund (PIF).
Read more »

Saudi Arabia, Singapore Funds Plow $966 Million Into Korea’s Kakao EntertainmentRiding high in global TV, music and film, the Korean entertainment industry is poised for another hefty injection of capital. Kakao Entertainment, which stretches across K-pop, webtoons and online …
Read more »

Troubled Crypto Lender Genesis Owes Creditors Over $3B: FTTroubled crypto lender Genesis reportedly owes creditors over $3 billion, which is pushing its parent company DCGco to look at selling some of DCG's venture capital portfolio. By parikshitm899
Read more »

December energy bills are giving some sticker shockCJ Leonard of Abington Township, Montgomery County says her PECO bill jumped from $110 to about $500.
Read more »