How Gulf Oil Giants Are Buying Global Power

Over the last decade or so, Gulf sovereign wealth funds backed by the region’s royals have turned their attention to a new arena: sports. They’re investing tens of billions of dollars around the world to gain returns, diplomatic sway and soft power. From football to Formula 1 and more, oil-rich countries including Saudi Arabia, the United Arab Emirates and Qatar view the industry as a gateway to more global influence.

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Post from Bloomberg on May 23, 2025

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