It has made its way to the top ranks of football, golf, boxing and Formula 1 in an unprecedented shake-up of the world sport establishment.
Now tennis and snooker have become the latest developments in Saudi Arabia's quest for an ever-growing presence in the industry.
The Gulf kingdom has already recruited Rafael Nadal as an ambassador for its tennis federation this month, while the public investment fund is forging closer partnerships with the Association of Tennis Professionals and the Women's Tennis Association in what could become the largest investment in an individual sport. since the launch of LIV Golf.
ATP Executive Chairman Andrea Gaudenzi was due to be in Riyadh this week to finalize a sponsorship deal for PIF to brand the on-court display at four tournaments, as well as TV coverage of the nine Masters 1000 events.
Meanwhile, WTA president Steve Simon is believed to be close to confirming a deal to bring his own association's year-end finals to Saudi Arabia, and there are reports that talks have begun over the country hosting Billie Jean King of the International Tennis Federation. Cup.
As with the state's previous sports investments, all of this was met with serious opposition.
Nadal's deal saw him accused of taking part in Amnesty International's 'ruthless sports washing operation' Telegraph Sports revealed last week that British tennis chiefs had turned down an offer to make their premier Queen's and Eastbourne tournaments part of the ATP competition.
Hosting the WTA's biggest event in a country where women and homosexuals are still marginalized or criminalized would be even more controversial.
Tennis legends Martina Navratilova and Chris Evert, who led the opposition to plans to host last year's final in Riyadh, wrote to Simon this week proclaiming such a move "completely incompatible with the spirit and purpose of women's tennis."
King seemed more relaxed about the WTA embracing Saudi investment, saying last year: "I think they will be there. What I worry about are the women. I want change as we go."
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Even if it is rebuffed in its attempts to win the tours, there is no sign that Saudi Arabia would move to poach the biggest tennis stars in the manner of LIV Golf.
Indeed, the next goal is to organize a 10th Masters 1000 event.
It could also play a key role in a power struggle within the sport between the four grand slams - including Wimbledon - and the two tours.
Tennis Australia CEO Craig Tiley is behind plans to create a 'Premier Tour' made up of around 18 major events, which would relegate other ATP and WTA tournaments to second-tier status.
Given that Barry and Eddie Hearn have pioneered bringing the country's biggest sporting events to the country in the form of the World Boxing Championship, snooker could never turn down a share of the Saudi billions.
The only surprise is that it has taken so long for a tournament to be organized there, with Barry Hearn having announced the launch of a ranking event in Riyadh in 2019.
That was subsequently suspended following the coronavirus crisis, but - as revealed by Telegraph Sport - it will start next season as part of a ten-year deal, including prize money similar to the £2.4 million on offer at the World Championship.
Typically for the Hearns, the news follows the launch of the even more striking Riyadh Season World Masters of Snooker, which will feature a new 23rd ball - the golden 'Riyadh Season Ball' - to increase the maximum potential break to 167.
Taking the Saudi petrodollars is unlikely to face much resistance from top players as Ronnie O'Sullivan will headline the new invitational tournament in March, while an announcement on the 128-player ranking event is expected before April's World Championship .
But Saudi investment will inevitably reignite the debate over the future of snooker's flagship tournament, which has been held at the Crucible Theater in Sheffield since 1977. The current deal expires after 2027 and Hearn has long spoken about interest from the likes of China before saying last year Qatar had inquired about its future availability.
The Saudis are unlikely to stop at tennis and snooker. The Hearns also run the Professional Darts Corporation, with the sport having never been bigger after Luke Littler's fairytale run to the World Championship final. However, it's hard to see the beer-fueled atmosphere of Alexandra Palace being replicated in Riyadh.
Cricket is also starting to attract Saudi investment, with the International Cricket Council and the Indian Premier League having agreed partnerships with state oil giant Aramco.
There is even talk of the country launching a lucrative Twenty20 tournament, with the chairman of the cricket board, Prince Saud bin Mishal al-Saud, announcing his intention to make the country a "global cricket destination" last year.
Of course, football will remain at the heart of the plans ahead of the all-but-confirmed hosting of the 2034 World Cup, something setbacks such as Jordan Henderson's departure from Al-Ettifaq this week show no sign of derailing.
In fact, rugby appears to be the only major sport untouched by Saudi wealth, despite reports that the country may be considering hosting the 2035 World Cup.
The logical conclusion of all this, of course, is a bid for the biggest sporting event of them all: the Olympic Games.
Saudi Arabia has already secured the 2034 Asian Games and the 2029 winter equivalent (yes, you read that right).
Bids for the Olympic Games from Qatar have previously failed due to the International Olympic Committee's reluctance to move them outside the summer period.
But the Saudis have repeatedly proven that when it comes to buying up what they want, all bets are off.
