I did some work for KAUST a few years back, and spoke to many people who relocated from Universities all around Europe. Projects that were having problems getting funded at their previous institutions were happily funded by KAUST.
This is going to sound offensive but KAUST, PIF, Aramco, Neom are full of mediocre talent from mostly Europe - who do you think is interested in a dead end job and moving to Saudi Arabia to work for some idiot royals? The best talent stays put or moves to the US where actual value gets generated. The Saudis are also too racist to actually recruit from Asia/Africa where they stand a chance of attracting better talent.
I did some work for KAUST a few years back, and spoke to many people who relocated from Universities all around Europe. Projects that were having problems getting funded at their previous institutions were happily funded by KAUST.