Sovereign Wealth Assets Projected to Reach $22.4 Trillion by 2030

Sovereign wealth fund assets are projected to grow nearly 50% to $22.4 trillion by 2030, according to a report from PwC. This growth is primarily driven by increased state-backed investments in infrastructure and artificial intelligence. The report, which analyzed the 350 largest public investors, notes a significant shift in behavior as funds move from passive management to becoming principal investors who originate their own transactions and take operational control of assets.

Capital remains highly concentrated, with the top 10 institutions holding approximately 41% of combined sovereign wealth and pension assets. In 2025, state investors directed the majority of roughly $66 billion in AI and digitization funding toward the United States, while investments in China dropped to approximately $4 billion.

Regional strategies vary among major funds. The Qatar Investment Authority and MGX Fund Management Limited are increasing their exposure to the United States. Conversely, the Public Investment Fund of Saudi Arabia has reduced its foreign allocations to roughly 20% to prioritize domestic spending discipline and internal development.