• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

2

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

3

Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics

1

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

2

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

3

Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
Saudi Arabia

Saudi Arabia is reportedly trying to lure business executives with million-dollar paydays to work on the future city of Neom

Prarthana Prakash
By
Prarthana Prakash
Prarthana Prakash
Europe Business News Reporter
Down Arrow Button Icon
Prarthana Prakash
By
Prarthana Prakash
Prarthana Prakash
Europe Business News Reporter
Down Arrow Button Icon
October 11, 2022, 5:42 PM ET
Mohammed bin Salman
Saudi Arabia Crown Prince Mohammed bin Salman in September.Royal Court of Saudi Arabia / Handout/Anadolu Agency via Getty Images

Everything we know about Neom, Saudi Arabia’s large-scale architectural showpiece, has sounded like a fantasy.

Flying elevators, zero-carbon zones and swimming as a way of commuting—none of it has been seen before at the scale envisioned by Crown Prince Mohammed bin Salman, known informally as MBS.

Now, the futuristic city is trying to tempt executives to lead growing industries like tourism and technology with pay as high as $1.1 million annually, the Wall Street Journal reported Tuesday, based on an internal Neom document. And that number could get much higher when including bonuses and other incentives. 

Neom is the latest in MBS’s efforts to diversify Saudi Arabia’s economy, which is the largest exporter of oil in the world. In recent years, the kingdom has eased women’s ability to travel independently and drive cars, in an attempt to correct repressive practices and allow for greater freedom in its society. To project the image of being more welcoming of foreigners, Neom will also serve alcohol at one of its resorts, the Wall Street Journal reported, marking a milestone for the Islamic kingdom where alcohol is banned.

Saudi Arabia is also hoping to attract new talent with its total absence of income taxes, which means executives will be able to keep their entire million-dollar paychecks. The project says it has already hired a number of experts from around the world in the departments of water, environment and more.

Neom—which is anticipated to be as big as Belgium when complete— has a wide array of job openings for project leads, including marine biologists, drainage engineers and more. Some roles are dedicated to The Line, an ambitious 1,600-feet structure that will house 9 million residents that the country says will have many elements of nature like a vertical garden city.

MBS announced Neom back in 2017 with a total budget of $500 billion. The first phase of the project will cost $319 billion, half of which will be provided for by the sovereign wealth fund, Reuters reported.

Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.

About the Author
Prarthana Prakash
By Prarthana PrakashEurope Business News Reporter
LinkedIn icon

Prarthana Prakash was a Europe business reporter at Fortune.

See full bioRight Arrow Button Icon

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

Traders work after a Federal Open Market Committee (FOMC) meeting on the floor of the New York Stock Exchange (NYSE) in New York, US, on Wednesday, March 18, 2026.
InvestingMarkets
Wall Street thinks there’s a chance the S&P 500 could push 20% higher by 2027
By Eleanor PringleMay 21, 2026
21 minutes ago
trump
CommentaryWhite House
Trump Accounts have a bigger problem than billionaire stock donations
By Jin Huang and Stephen RollMay 21, 2026
28 minutes ago
Elon Musk sits with his fists together, looking up.
NewslettersTerm Sheet
SpaceX’s IPO filing is full of surprises
By Allie GarfinkleMay 21, 2026
1 hour ago
brigham
CommentaryRailroads
The U.S. freight network is broken by design. One merger could start fixing it
By Brigham A. McCownMay 21, 2026
1 hour ago
Top CD rates today, May 21, 2026: Lock in up to up to 4.20%
Personal FinanceCertificates of Deposit (CDs)
Top CD rates today, May 21, 2026: Lock in up to up to 4.20%
By Glen Luke FlanaganMay 21, 2026
2 hours ago
The top high-yield savings rates: Up to 5.00% on May 21, 2026
Personal FinanceSavings accounts
The top high-yield savings rates: Up to 5.00% on May 21, 2026
By Glen Luke FlanaganMay 21, 2026
2 hours ago

Most Popular

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Workplace Culture
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
By Preston ForeMay 19, 2026
2 days ago
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
Success
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
By Preston ForeMay 20, 2026
21 hours ago
Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
Future of Work
Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
By Mike Householder and The Associated PressMay 17, 2026
4 days ago
Dr. Bernice King on why companies that walked back DEI were never truly committed: 'If you retreat that quick…that reveals who you really are'
Workplace Culture
Dr. Bernice King on why companies that walked back DEI were never truly committed: 'If you retreat that quick…that reveals who you really are'
By Preston ForeMay 19, 2026
2 days ago
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politics
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
By Jake AngeloMay 12, 2026
9 days ago
Current price of oil as of May 20, 2026
Personal Finance
Current price of oil as of May 20, 2026
By Joseph HostetlerMay 20, 2026
22 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.