share
Tweet
A mysterious family from the Persian Gulf, with a net worth of $300 billion, has become the richest family in the world, dethroning the clan of Walmart’s founders. He has several palaces around the world and shares in Rihanna and Elon Musk companies. We are talking about the Al Nahyan clan.
About 6% of the country is located in the United Arab Emirates. world oil resources.
The country, which is getting rich from the sale of raw materials, is known for the fact that the money from this source keeps the royal families in hand
.
It’s no secret that the Al Nahyan family has a gigantic fortune, but it’s a variety of investments – from Rihanna’s lingerie line and big data to fast food and Elon Musk’s SpaceX – that have taken it to another level.
The rest of the article under the video
A Polish startup is making a career in Dubai at the side of a sheikh
Show…
video-iframe>
The richest family in the world. This is the source of the wealth of the Al Nahyan clan
Bloomberg experts have attempted to estimate the assets of the Al Nahyans. Analyzes of property registers, numerous statements and documents have shown that
family capital reaches at least USD 300 billion
.
That’s more than $225 billion. attributed to the Walton clan, who had long been considered the richest family in the world. They gained their fortune by creating and developing the Walmart chain of stores.
Accurately determining the wealth of the Al Nahyan family is not easy due to the blurred lines between state and private wealth. The Al Nahyans have ruled the UAE since the country’s independence in 1971. Some of their assets are clearly private, while others are linked to the government. However, even considering only private property,
the Al Nahyan family surpasses other Gulf clans in terms of resources, including the Saudi royal family
.
The head of the family, Sheikh Tahnoon, is the head of the Abu Dhabi wealth fund ADQ, as well as the country’s main lender – First Abu Dhabi Bank. Among the family’s private entities is an investment company whose value has increased by almost PLN 28,000 over the last five years. percent
International Holding Co. (IHC) – holding shares of Savage X Fenty (the company of singer Rihanna) or SpaceX
Elon Musk – is considered by domestic investors as a company too closely linked to the state to fail. But at the same time too opaque for some international institutions to bet on.
Royal Group
In the Al Nahyan’s thick wallet are shares in a football club
Manchester City
(eight-time champion of England), several palaces, including the Chateau de Baillon north of Paris, and most of London’s exclusive Berkeley Square.
However, the heart of the family’s success lies in the Royal Group – an extensive network of companies that employs over 27,000 people. people in many sectors, from finance to robotics
.
As the Al Nahyan’s wealth grows, so does their influence in the region and around the world. Sheikh Tahnoon is recognized as a key commander of the family’s growing business empire, as well as an important political emissary. Investments in countries such as Turkey and Egypt are to support the efforts of his brother Sheikh Mohammed bin Zayed, the president of the United Arab Emirates, known as MBZ, who wants to increase the country’s influence.
Sheikh Tahnoon and MBZ are part of a group of six brothers known as Bani Fatima. They are all sons of the first president of the UAE – Sheikh Zayed bin Sultan Al Nahyan.
While Sheikh Tahnoon concentrates on diplomatic activities in the Middle East, the key interests of the family empire are looked after by his trusted advisers. One of them is Sofia Abdellatif Lasky, a Moroccan-born financier who has been working with Tahnoon for 20 years.
Doubtful business transparency
Some of the Royal Group’s investments have increased in value by staggering amounts in recent years. According to data compiled by Bloomberg, IHC is at the top of this list, surpassing every company in the world worth more than a billion dollars in the last five years.
IHC – mostly owned by the Royal Group – has gone from a little-known investor focused on fish farming to the UAE’s most valuable listed company. It is worth more than companies such as McDonald’s or Nike, but even that has not yet convinced international investors.
Some of them express concerns about the lack of transparency in the functioning of the family business
.
IHC’s interim financial statements are reviewed, the scope of which is “considerably less” than that of internationally audited audits, as confirmed by Ernst & Young in its report last year.
IHC doesn’t mind though. The company’s CEO Syed Basar Shueb said in an interview with Bloomberg last August that
the company plans to invest billions of dollars in markets such as Indonesia, Turkey and India
focusing on sectors such as food, infrastructure and healthcare.
If you want to keep up to date with the latest economic and business events, use our Chatbot by clicking
here
.
Got a news, photo or video? send us via
dziejesie.wp.pl
Source: money.pl
