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Young Supercar Collectors Aren’t Afraid to Risk Their Investments
Insurance Journal· 2025-11-14 08:05
Jack Morris treasures his 2009 Lamborghini Murcielago LP 640. But it’s not always easy to love.“It’s huge, it’s heavy, it’s clunky, you can’t see out of it,” says the 24-year-old of the orange V-12. “On paper, if a Porsche 911 is a good car, I would say this one is not good.” That hasn’t stopped him from putting 16,000 miles on the engine since buying it two years ago. “It’s not going to deliver times anywhere near as fast as the newer stuff,” he says. “But I don’t care about any of that. I love it because ...
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]