Right now Saudi Arabia owns an uncertain stream of future profits from Aramco. By selling stock, they are converting a small portion of that uncertain stream of

Right now Saudi Arabia owns an uncertain stream of future profits from Aramco. By selling stock, they are converting a small portion of that uncertain stream of future profits into a bigger pool of money upfront that can be diversified away from oil. For example, they can invest those dollars into SoftBank's giant funds, which are investing in ridesharing companies like Uber, Lyft, Didi, Cruise Automation, etc. You are right that every dollar Saudi Arabia pulls out of Aramco is a dollar that someone else puts in. But hopefully these transactions are win-win by reducing Saudi Arabia's overall risk. Plus, putting Aramco on the open market may lead to more accurate information about its worth, which would help Saudi Arabia plan better.