The amount of $1.5 trillion (approximately 2,192.7 trillion won) is the combined total of two sovereign wealth funds of the United Arab Emirates (UAE) managed by Sheikh Tahnoun bin Zayed Al Nahyan, 56, the UAE National Security Advisor. Known as the 'Spy Sheikh,' the immense amount Tahnoun oversees has led CEOs from Apple, Microsoft (MS), and BlackRock to meet with him in hopes of collaborating with the UAE in recent months. Meta CEO Mark Zuckerberg built rapport with Tahnoun through Brazilian jiu-jitsu, while Elon Musk met him at Tesla's factory in Texas.
Captivating the global IT industry, particularly the artificial intelligence (AI) segment, Tahnoun is the younger brother of Sheikh Mohammed bin Zayed Al Nahyan, the UAE President and Abu Dhabi ruler. He is also the full brother of Sheikh Mansour bin Zayed Al Nahyan, regarded as a symbol of wealth.
The Wall Street Journal (WSJ) reported on the 27th (local time) that the AI investment fund MGX led by Tahnoun is expected to attract over $50 billion (approximately 73.13 trillion won) from Tahnoun's personal wealth and elsewhere in Abu Dhabi. Additionally, the AI company 'G42,' established by the Abu Dhabi Investment Authority led by Tahnoun, is set to invest billions more in the AI sector. G42 developed 'Jais,' the first large-scale Arabic language model (LLM).
Using financial power and influence, Tahnoun aims for the UAE and Abu Dhabi to benefit from AI development and to position the UAE as a global hub for AI technology. With increasing interest in AI over the coming years, Tahnoun hopes to establish semiconductor plants, data centers, and AI companies in the UAE, located 90 minutes by car from Dubai. The oil-rich UAE has heavily invested in AI technology development to reduce its reliance on fossil fuels. A notable example is the government-led establishment of the MGX fund and the commitment to invest billions in the AI sector through the Advanced Technology Research Council, a national research and development agency.
According to WSJ, Tahnoun mentioned a book co-authored by Satya Nadella, the MS CEO, and Jeffrey Ding from George Washington University during a meeting. The book posits that 'AI could serve as the foundation for upcoming global economic growth.' Brad Smith, the MS President who has collaborated with Tahnoun since 2023, said to WSJ, 'Tahnoun has the capital to invest in capital-intensive AI ventures.' WSJ noted that 'Tahnoun personally tracks the progress of global large-scale language models at his lavish palace in Abu Dhabi,' adding that 'Tahnoun urges employees in his vast network of companies to quickly integrate AI.'
◇ Practicing jiu-jitsu under a pseudonym and laying the groundwork for combat sports dissemination in the UAE
Unlike his brother, President Mohammed of the UAE, who has plans to rebuild Abu Dhabi's economy, Tahnoun has focused on political extracurricular activities. He enjoyed playing the video game 'Age of Empires' with his siblings, hiring employees from the game's development company to strategize.
Tahnoun is also a 'sports enthusiast.' He converted a palace within the royal palace into a gym and sponsors 'UAE Team Emirates,' one of the world's top cycling teams. On an island near the presidential palace, he rode an Italian brand 'Colnago' bicycle and instructed that one of his companies purchase Colnago bicycles.
He also practices jiu-jitsu. It is reported that he began practicing jiu-jitsu under a pseudonym, 'Ben,' after being fascinated by then-overwhelming competitor Royce Gracie while watching the UFC in the U.S. in 1993. After five years of practice, Tahnoun was awarded a black belt in 2000. In addition to practicing jiu-jitsu, he established the 'Abu Dhabi Combat Club (ADCC)' for training in combat sports in Abu Dhabi, hiring renowned instructors in jiu-jitsu, wrestling, judo, and Muay Thai, and launched no-gi submission wrestling competitions, laying the groundwork for the spread of combat sports, including jiu-jitsu, in the UAE.
◇ After brother Mohammed became UAE President, managing 2,192 trillion won
Tahnoun's interest in AI began in late 2017 when he learned that Google's AI program 'AlphaZero' had defeated the world's top computer chess program in just four hours after learning the rules of chess. The following year, Tahnoun recruited Fung Shiao, former Chief Technology Officer (CTO) of MicroStrategy, which transitioned from a software company to a Bitcoin enterprise, to establish G42. He then created a national strategy to make the UAE a 'global leader in the AI sector' by 2031.
Tahnoun's rise to global attention began after his brother Mohammed became president of the UAE in 2022. Initially, there were speculations that Tahnoun would be designated crown prince after Mohammed's presidency. Instead, Mohammed granted Tahnoun authority to oversee two sovereign wealth funds, managing Abu Dhabi's wealth. Tahnoun already operates private businesses in sectors like real estate, maritime, banking, and food, much of which is connected to the UAE government. According to the Global Sovereign Wealth Fund (SWF) research institute, as of last year, Tahnoun controls over $1.5 trillion (approximately 2,192.7 trillion won).