In recent months, the Kingdom of Saudi Arabia has seen a growing boom in the purchase of the largest technology and sports companies.

The country, known for its oil, strives to strongly strengthen its economy and its influence in the world, and as written by the British "Телеграф", he does it in a very skillful way.

With the strategic framework labeled "Saudi Vision 2030", this country has launched an initiative that has invested large sums of money in the purchase of numerous foreign companies. Sports are a key part of efforts to change Saudi Arabia's conservative image and have opened it up to increased tourism.

However, sports play a key role in the rise of the kingdom. In 2021, the richest Saudis bought the English football club Newcastle United for just over 300 million pounds. Last year, reports suggested the fund was considering a $20 billion bid to buy Formula One motor racing. The kingdom is believed to be considering a bid to host the 1 FIFA World Cup following the recent success of the tournament, which was already hosted by Qatar.

Just this week the state fund took control of several local football clubs. Although the teams themselves are not famous, the Saudi league is starting to attract some of the biggest players in football. It is already home to Cristiano Ronaldo, who joined Saudi club Al Nasr in a deal reportedly worth $200 million a year. Frenchman Karim Benzema is set to join local rivals after leaving Real Madrid.

The brain behind the new investment philosophy is the 37-year-old Crown Prince Mohammed bin Salman. The sixth of 25 sons of Saudi King Salman bin Abdulaziz Al Saud, he has positioned himself to become the heir to the throne of the royal family, which has a combined fortune of £1,3 trillion. The crown prince's personal fortune is believed to be around £2,4bn, which he has spent on such things as a £240m French chateau, a £400m yacht and even a £360m Leonardo da Vinci painting.

But his real power comes in being able to leverage the financial power of the country's sovereign wealth fund and Saudi Aramco, the state oil company. The desert kingdom's bold take on golf and top footballers raises another question: Is there anything – or anyone – that bin Salman can't buy? Or is he poised to become, as some have declared, "the man who bought the world"?

Few of those who have met the crown prince believe he lacks confidence.

"He's undeniably charismatic, he's curious and interested in things," says Justin Sheck, a journalist and co-author of Blood and Oil: Mohammed bin Salman's Relentless Quest for Global Power. "He is in this strange position where he is in charge of everything in his country. But he also exudes the belief that he is qualified to do it all."

With many global asset values ​​still depressed after the turmoil of the pandemic, and many countries currently "flirting" with recession, Gulf states are awash in petrodollars thanks to a spike in energy prices caused by the war in Ukraine . Many corporations and sportsmen who are "hungry" for money have begun to see the region as one of the few remaining sources of cash in the world, writes "Telegraph".

Middle East oil and gas producers are expected to generate about $1,3 trillion in additional revenue over the next four years, above and beyond what was predicted before the war because of higher energy prices, the International Monetary Fund said.

"You have to remember that this is an absolute monarchy," says journalist Shack. "This means that actions are often motivated less by a deliberative process or strategy than by individual desires." And I don't think in this case you can overstate the importance of the fact that Yasir bin Othman Al-Rumayan really, really loves golf. It's his favorite thing."