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Saudi Arabia transfers Aramco shares to wealth fund

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Saudi Arabia transferred around $80 billion worth of oil giant Aramco's shares to its wealth fund.

The country's Public Investment Fund currently has about $480 billion in assets under management. The goal is to grow the fund to over $1 trillion by 2025.

The Saudi government remains the largest Aramco shareholder with a roughly 94% stake.

Read more from The Wall Street Journal.

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