Arab News, on 17 August 2026, reported the Public Investment Fund’s 2025 results from the annual report. Revenue rose 9 percent to $120 billion. Net profit more than doubled to $17 billion. Assets under management exceeded $900 billion, from about $530 billion in 2021 and $150 billion in 2015. The same account states an annualized total shareholder return of 5.8 percent since 2017. Al Arabiya, on 18 August 2026, published a tighter assets figure from the same results: total gross assets under management of $904.54 billion, SAR 3.396 trillion, compared with $914.47 billion, SAR 3.434 trillion, the year before. The two publications agree on revenue of $120 billion and net profit of $17 billion. They describe assets in two cuts. A compensation committee should keep both, and should keep both out of a counsel’s salary cell. Assets under management are the size of the fund. Counsel cash is a separate number.
The audited statements are a third cut. KPMG’s opinion, signed in Riyadh on 30 June 2026, states that the Fund had 225 direct investments at 31 December 2025, classified as subsidiaries, associates, and joint ventures. Group equity at that date was SAR 2,629,072 million. Equity on the balance sheet is the accounting line. It is a different figure from the $904.54 billion of gross assets under management and from the “exceeded $900 billion” sentence in the Arab News account. None of the three is a headcount of lawyers, and none of them prints a riyal for counsel.
The headquarters employer is numbered in licenses. Arab News, on 24 August 2025, reported that the Ministry of Investment’s Economic and Investment Monitor for the second quarter of 2025 recorded 34 regional-headquarters licenses. The same article, citing the Saudi Press Agency in March, said nearly 600 international companies have established bases in Saudi Arabia since 2021. Deloitte’s note of 3 July 2024, reading Council of Ministers Decision 337 of 27 December 2022 and Decision 461 of December 2023, states the contracting rule that makes the license a hiring brief. From 1 January 2024, government agencies, when conducting business and securing purchases, may not contract with a company that has no regional headquarters in the Kingdom, or with its related parties, except under the controls. One control is an estimated cost under SAR 1 million. Legal is on the optional-activity list. Supporting acquisitions, mergers, and divestments is on the mandatory list. Mandatory activities start within six months of the license. At least three optional activities start within twelve months. Invest Saudi’s RHQ page adds the headcount: at least 15 full-time employees within one year, including three at executive-director or vice-president level. A general counsel who staffs Legal as one of those optional activities is hiring onto a Riyadh payroll. The 15 in that sentence is the RHQ headcount rule. It is a different 15 from the 15 closed searches.
The capital-markets employer is numbered in licenses as well. Mondovisione, on 8 June 2026, carrying the CMA’s 2025 annual report, recorded 32 new licenses for capital-market institutions in 2025 and a stock of 215 licensed institutions at year-end. Revenues of those institutions were SAR 20.8 billion, up 19.4 percent. Profits were SAR 10.2 billion, up 16 percent. The CMA’s own release on the 2024 annual report put the prior year at 186 licensed institutions and revenues of SAR 17 billion. A board that quotes 215 should say it is the year-end 2025 stock in the Mondovisione account of the annual report. The in-house seats inside those institutions are funds, issuance, and foreign-ownership counsel. The CMA release does not print a salary for them. Portfolio-company seats inside the Fund’s 225 direct investments are briefed on PIF portfolio counsel recruiting in Riyadh.
Private-practice context for the city is on legal recruitment in Riyadh. The 2026 market account of courts, the commercial-court mix, and the Vision 2030 file is on the Riyadh legal market, 2026. A mandate whose employer, license, and notice are Dubai’s belongs on in-house counsel recruiting in Dubai. Company-side pay is on the Riyadh in-house salary page. The head-of-legal band is on general counsel salary in Riyadh, 2026. The firm scale a counsel can stay on is on associate salary in Riyadh, 2026.