The Mideast Power Brokers Who Control $2.7 Trillion in Assets

The region of the Middle East harbors some of the most substantial funds owned by governments. These colossal investment entities, which manage an aggregate worth of almost $3 trillion, have emerged as significant participants in worldwide business negotiations.

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Flush with money from the previous year's surge in commodity prices, organizations ranging from Abu Dhabi Investment Authority to Saudi Arabia's Public Investment Fund have spent billions of dollars on various sectors such as technology, finance, and sports. These investments have been made across different countries including Australia and Canada.

This has caught the attention of distinguished figures in the international finance industry, including Ray Dalio and Rajeev Misra, who are collaborating closely with the influential leaders of these investments.

Sheikh Tahnoon bin Zayed Al Nahyan is a prominent individual in the UAE. He holds a significant position and is well-respected in his community.

The royal figure from Abu Dhabi, who was born in the late 1960s, leads a massive empire worth $1.5 trillion. This empire includes two funds dedicated to accumulating wealth, the most crucial private investment company in the region, the largest financial institution in the country, and the biggest publicly traded corporation. Furthermore, he holds the position of one of two deputy rulers in Abu Dhabi, serves as the national security advisor for the United Arab Emirates, and is the brother of its president. All these roles give him significantly more influence and power compared to the majority of individuals in the area.

Since March, Sheikh Tahnoon has been leading the Abu Dhabi Investment Authority, which has emerged as the second-largest spender among the prominent wealth funds in the Middle East in 2022, based on information from Global SWF. Alongside his role as chairman of ADQ, Sheikh Tahnoon is also responsible for supervising a fund that has acquired assets worth billions of dollars in Egypt and committed investments to support Turkey's economy. Additionally, the organization has played a significant role in arranging deals focused on ensuring food security, such as the recent agreement to purchase a share in Louis Dreyfus Co.

Click here to learn more: Bankers and billionaires flock to Gulf Royal's massive $1.5 trillion empire.

is the owner of the Manchester City Football Club and a member of the royal family of Abu Dhabi. He is a renowned businessman and a prominent figure in the world of sports. The esteemed individual hailing from the Al Nahyan family possesses a notable ownership stake in the prestigious Manchester City Football Club. Not only is he recognized for his astute business acumen, but he is also revered for his influential presence within the realm of athletics.

Sheikh Mansour, who is the brother of Sheikh Tahnoon and UAE President Mohammed bin Zayed, is widely recognized worldwide as the proprietor of Manchester City Football Club. He holds significant sway in the emirate's business landscape and is considered one of its most powerful entrepreneurs.

In March, the sovereign ruler of UAE, who is also the vice president and deputy prime minister, was appointed as the head of the Mubadala Investment Co., which manages assets worth $276 billion. Khaldoon Al Mubarak, a well-known Emirati business leader, has been serving as the CEO of this fund for nearly twenty years. Together, they are responsible for overseeing various investments, such as in First Abu Dhabi Bank PJSC, which is the biggest bank in Abu Dhabi. Additionally, they hold stakes in companies like Carlyle Group Inc. and GlobalFoundries Inc., the leading manufacturer of customized semiconductors in the United States.

The investment fund is also supporting Misra's latest venture worth $6.8 billion, and made calculated bets on technology companies during the decline in their value last year. Mubadala has been leading the way in diversifying Abu Dhabi's economy beyond oil, with investments spanning across healthcare and finance sectors.

Sheikh Mansour, who is in his fifties, also holds the position of chairman at the Emirates Investment Authority, an investment institution with a total value of $90 billion. The Emirates Investment Authority holds a 60% stake in the Emirates Telecom, which is valued at $60 billion and happens to be the largest shareholder of Vodafone Group Plc. This telecom company is actively pursuing an ambitious plan for global expansion.

Yasir Al Rumayyan, the esteemed figure in charge of the Public Investment Fund, which holds significant power in Saudi Arabia, has been entrusted with the responsibility of implementing Crown Prince Mohammed bin Salman's Vision 2030 plan. This ambitious strategy is focused on revamping the nation's economy.

The futuristic city of Neom, which costs $500 billion, and game-changing deals in the world of global sport, as well as investments in mining, gaming, and technology, are all part of the Saudi Arabia's efforts to diversify their economy, led by the formidable $760 billion PIF. Taking advantage of the oil-price boom from last year, PIF has surpassed every other wealth fund in the region in terms of spending since the beginning of 2022.

The heir to the throne holds the position of the head of the Public Investment Fund (PIF) and has played a significant role in influencing its approach, such as venturing into areas like gaming. In the meantime, Al Rumayyan, who is in his fifties and shares a passion for golf, played a crucial part in organizing the unexpected fusion of PGA and LIV this year.

The investment firm possesses a part of the state-owned oil company Aramco, in which Al Rumayyan serves as the chairman. Beyond the capital city of Riyadh, the Public Investment Fund (PIF) significantly supports Lucid Group Inc. and possesses shares in Electronic Arts Inc. and Nintendo Co. Ltd.

Discover More: The Growth of Saudi Arabia's Enormous Fund in Creating a Future Beyond Oil: QuickTake

Mansoor Ebrahim Al Mahmoud, the top executive of the Qatar Investment Authority (QIA), a sovereign wealth fund with assets worth $450 billion, is responsible for managing one of the largest state-owned investment organizations in Europe. The QIA holds positions in various enterprises, spanning from Glencore Plc, a minerals extraction company, to J Sainsbury Plc, a well-known supermarket chain, and even Volkswagen AG, a prominent car manufacturer. Additionally, Al Mahmoud, who was born during the 1970s, serves as a member of the board of directors at Volkswagen AG.

Qatar's financial resources have been strengthened by the significant increase in prices for liquefied natural gas (LNG), a product that Doha exports on a large scale. Al Mahmoud, who was chosen as CEO in 2018, recently expressed the intention of the fund to increase its investments in Asia and the US. The fund aims to allocate its funds towards initiatives related to climate change, infrastructure, and digital advancements.

Discover More: Qatar's Leading Negotiators Prepare for an Enhanced Financial Capability

The organization is also considering a bigger role in Qatar's economic progress, now that the phase of extensive expenses for hosting the soccer World Cup has concluded.

Sheikh Bandar bin Mohammed bin Saud Al-Thani, a prominent figure in Qatar and the governor of Qatar's Central Bank, was appointed as the chairman of QIA this year. However, it is expected that this change in leadership will not lead to any significant changes in the fund's approach or its willingness to invest.

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