Sheikh Tahnoon is increasingly becoming the face of the UAE's global aspirations.
, Source: Global SWF Data
Known to be a fan of Brazilian jiu-jitsu, cycling and chess, Sheikh Tahnoon now helms two wealth funds, the region’s most important private investment firm, the country’s largest lender and its biggest listed corporate. That’s made him the defacto business chief of the wealthy Al Nahyan family, with access to seemingly endless reserves of cash in OPEC’s third-largest producer — an unusual amount of financial firepower even in the oil-rich Persian Gulf.
“Sheikh Tahnoon is now the strategist behind multiple economic statecraft tools and the ability to use economic means of foreign policy support,” she said. Bankers and lawyers warn that some of Abu Dhabi’s investment vehicles could be slowed by national security reviews as the US Committee on Foreign Investment broadly conducts more stringent checks on deals by international investors with business ties to the Chinese government. The UAE is also set to join the BRICS grouping of major emerging markets, moving closer into Beijing’s orbit.
Sheikh Tahnoon was handed control of Abu Dhabi Investment Authority following a reshuffle in March. Days later, UAE ruler Sheikh Mohammed bin Zayed — known as MBZ — named his eldest son Sheikh Khaled bin Mohammed as crown prince and thus heir, after having held the position open for a year.
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