Saudi Arabia Invests $200 Million to Bring Big-Name Golf to Asia

When No. 3-ranked golfer Dustin Johnson tees off on Feb. 3 near Jeddah on Saudi Arabia’s west coast, he’ll be aiming to repeat as champion of the Saudi International—and take home the bulk of the $5 million purse.

But even if he successfully defends his title against stars such as Phil Mickelson and Bryson DeChambeau, the prize money won’t make him the biggest winner. That would be the Asian Tour itself. Saudi Arabia’s Public Investment Fund (PIF), one of the world’s largest sovereign wealth funds, announced a $200 million venture last fall called LIV Golf Investments to increase the popularity of the game outside the U.S. and Europe. Greg Norman, the former No. 1 golfer, is LIV’s chief executive officer.