Preheat your oven to 325°F (160°C). Grease and lightly flour a 10-inch Bundt pan or tube pan, making sure no spots are left uncovered. Set it aside.

Using a stand mixer or a hand mixer, cream the butter, vegetable oil, and cream cheese on medium speed until the mixture is smooth and fluffy. This typically takes about 3-5 minutes.

Gradually add the granulated sugar, half a cup at a time, beating well after each addition. You want the sugar to dissolve into the mixture and turn creamy and light.

Add the eggs one at a time, mixing well after each egg. Scrape down the bowl as needed to ensure everything is fully incorporated.

Reduce the mixer speed to low. Gradually add the sifted cake flour and salt, alternating with the vanilla extract. Start and end with the flour. Mix just until combined; avoid overmixing to keep the cake tender.

Pour the batter into the prepared pan, smoothing the top with a spatula. Tap the pan lightly on the counter to release any air bubbles.

Bake in the preheated oven for about 1 hour and 30 minutes, or until a toothpick inserted into the thickest part of the cake comes out clean.

Remove the cake from the oven and allow it to cool in the pan for about 15-20 minutes. Carefully invert the cake onto a wire rack and allow it to cool completely before sprinkling powdered sugar on top for garnish. Slice and enjoy!