IHC is majority owned by Royal Group, which is owned by Sheikh Tanun. So that is a really interesting example of a powerful royal striking out in business. I mean, this company doesn't have like one thesis. It's not there to do oil pipelines or widgets. They invest in all sorts of different areas. And part of this is strategic. This region is not too different than the basic idea behind the sovereign wealth fund and they want to diversify their wealth into non-energy industries.
The secretive Al Nahyan family of Abu Dhabi has amassed a fortune of $300 billion–and they’re investing it around the globe, in everything from green energy and healthcare to Manchester City Football Club, SpaceX and Rihanna’s lingerie line. Bloomberg reporters Devon Pendleton, Ben Bartenstein and Nicolas Parasie join this episode to talk about the family’s global reach.
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