While Saudi Arabia is developing its first-ever sovereign wealth equity fund (indicated to become the world’s largest with a market value of $1 trillion), other members of the Gulf Cooperation Council are preparing to follow suit. This includes the leading oil and natural gas producers of the United Arab Emirates, Bahrain, Kuwait, Qatar and Oman, as well as Saudi Arabia.
So far in 2016, these energy-dependent Arab nations already have raised $18 billion, partially easing the pain of stinging deficits incurred by incomes that have been cut in half or more, primarily due to the debilitating world oil price disasters impacting both oil and natural gas.