A new holding company with assets worth $27 billion will be created in the UAE
In the United Emirates, a new company is being created to manage assets worth $ 27 billion in various industries, including finance and mining, according to a Report citing Bloomberg.
The new company, called 2PointZero, will be controlled by the global investment company Abu Dhabi International Holding Co, whose turnover is estimated at $239 billion.
Among the assets of 2PointZero will be parts of the business empire of Sheikh Tahnoun bin Zayed Al Nahyan, the UAE national security adviser and the president's brother.
These include Lunate, the new Abu Dhabi fund, International Resources Holding, which invested more than $1 billion in the Zambian Mopani copper mine in December 2023, as well as private investment companies Chimera, Beltone Financial, Citadel Technologies and Sagasse Investments.
Bloomberg writes that Sheikh Tahnoon bin Zayed Al Nahyan is actually "the business leader of the Al Nahyan family." Having become one of the most powerful businessmen in the world in recent years, he currently controls two wealth funds, a private investment firm with a turnover of $300 billion, as well as the country's main creditor.
Abu Dhabi International Holding Co is an important part of this empire, whose shares, according to Bloomber, rose 3.2% on January 3, reaching a five-month high. This increased the company's market value by almost $7.5 billion.
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