Abu Dhabi’s $230 Billion Man Bet the World Would Overcome Covid-19
- Date: 06-Dec-2020
- Source: The Wall Street Journal
- Sector:Financial Markets
- Country:uae-top-picks
Abu Dhabi’s $230 Billion Man Bet the World Would Overcome Covid-19
At the end of March the man who controls a $230 billion Abu Dhabi sovereign-wealth fund dialed up some of the world's biggest investors as a new pandemic rattled the global economy. Khaldoon al-Mubarak wanted to know how bad things could get.
Japanese billionaire Masayoshi Son assured the chief executive of Mubadala Investment Co. that a fund housing $15 billion of Mubadala's money was diverse enough to withstand the storm. BlackRock Inc. CEO Larry Fink explained to Mr. Mubarak how government stimulus could boost the U.S. economy. Egon Durban, co-CEO of private-equity firm Silver Lake, argued the market had become too bearish and was overlooking an eventual vaccine.
“In those early days I was on the phone all the time,” said the 44-year-old Mr. Mubarak, a Tufts University graduate who sports a crew cut and is as comfortable in a suit as a traditional Emirati thobe. “For me, it was instrumental in really forming a view.”
The view that emerged was that the world would
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