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From jets and palaces to yachts: How wealthy is Abu Dhabi royal family which is set to acquire stake in TikTok US?
MINT· 2025-09-28 09:48
Group 1: Acquisition of TikTok US Operations - The ultra-wealthy royal family of Abu Dhabi is set to acquire a 15% stake in TikTok's US operations through a deal facilitated by President Donald Trump, which includes a board seat [1] - Trump signed an executive order approving the deal, ensuring that TikTok will be majority-owned and controlled by US persons, with a 120-day period to finalize the terms [2] - The joint ownership structure will see Oracle, Silver Lake, and Abu Dhabi's MGX collectively owning around 45% of TikTok US, while ByteDance retains a 19.9% stake [3] Group 2: Background and Context - The TikTok agreement follows a year after the US Congress voted to ban the app unless sold, citing privacy and national security concerns [4] - The investment from the UAE's royal family could raise controversy, especially given the fund's ties to Sheikh Tahnoon, the UAE's national security adviser [4] Group 3: Wealth of Abu Dhabi's Royal Family - The royal family of Abu Dhabi has an estimated net worth of $323.9 billion and controls about 6% of the world's oil reserves [5] - Their investments include ownership of Manchester City and stakes in global enterprises like Rihanna's Savage X Fenty and Elon Musk's SpaceX [5] Group 4: Luxury Assets and Cultural Influence - The family's opulence is reflected in their real estate holdings, including the presidential residence worth around $475 million [6] - They own extensive properties in London and internationally, with the late Sheikh Khalifa being known as the "landlord of London" [7] - The family possesses a world-famous car collection and a fleet of luxurious aircraft, including a $478 million Boeing 747 [8][9] - Their ownership of Azzam, the world's largest superyacht, and other megayachts highlights their luxury lifestyle [10][11] - Their commitment to cultural influence is demonstrated through projects like the Louvre Abu Dhabi, showcasing significant art collections [12]
Boeing was the real winner of Donald Trump's trip to the Middle East
Business Insider· 2025-05-17 09:42
Group 1 - Boeing secured a significant order from Qatar Airways for at least 160 jets, valued at $96 billion, marking its largest-ever order for wide-body aircraft [1][2] - The order includes 30 Boeing 777X planes, which have yet to be certified and are running years behind schedule, indicating Qatar's strong confidence in Boeing's future [3][4] - Boeing's recent delivery of 45 commercial planes in the last month represents a substantial increase, nearly double the number delivered in the same period last year [5] Group 2 - The defense deal with Saudi Arabia, valued at approximately $142 billion, is noted as the largest defense-sales agreement in history, further enhancing Boeing's reputation [4] - Trump's support for Boeing during his trip to the Middle East reflects a notable shift from previous tensions regarding delays in the Air Force One project [2][11] - The recent agreement with Qatar Airways and the defense deal with Saudi Arabia signify that Boeing is recovering from its past challenges and restoring its standing in the industry [4][12]
Trump hails Qatar's 'nice gesture' of Air Force One replacement, blaming Boeing delays
CNBC· 2025-05-12 16:07
Group 1 - The U.S. Air Force One is currently a modified version of a 40-year-old Boeing 747, leading to disappointment over delays in the production of a new aircraft by Boeing [2] - Qatar has offered a 747 jet to the U.S. as a temporary Air Force One due to the delays at Boeing, although no formal acceptance of this offer will occur during Trump's visit [1][2] - Trump expressed respect for Qatar's leadership while also highlighting the advanced aircraft capabilities of some Arab countries compared to the aging U.S. presidential aircraft [2][3] Group 2 - The U.S. Department of Defense is considering the temporary transfer of an aircraft from Qatar, although no "gift" will be accepted during the visit [2] - Trump's upcoming visits to Saudi Arabia and the United Arab Emirates indicate a broader diplomatic engagement in the region [3]
L3 Harris tapped to modify Qatari jet as potential new Air Force One after years of Boeing delays
CNBC· 2025-05-01 15:30
Group 1 - The U.S. is collaborating with L3Harris Technologies to modify a used Qatari government jumbo jet, potentially creating a new presidential plane [1] - President Trump expressed frustration over delays in the modification of two Boeing 747s, which were initially contracted to serve as the next Air Force One [2][3] - Boeing has incurred over $2 billion in cost overruns related to the Air Force One project, prompting Trump to consider alternative aircraft options [3] Group 2 - Despite the delays with the Air Force One planes, the U.S. Air Force awarded Boeing a contract for a next-generation fighter jet, estimated to be worth around $20 billion or more [5] - Boeing's CEO stated that the company is working to revise the program plan for the Air Force One project to allow for an earlier delivery while ensuring safety and quality [4]