Yep, 200 separate investments, worth $350bn, and MBS is choosing each one after careful consideration and using his personal experience and skill, then signing it all off...but via a ‘fake’ board so that he doesn’t take all the credit. Ok.
Come on, he’s head of a royal dictatorship that controls massive state wealth. Obviously it’s hard to say exactly how it’s run, but I doubt it follows conventional business practices all that much.
That said, it’s still debatable how much it should matter to the O&D test.