Podcast Summary
The Rise of International Holding Company: From Obscurity to a $240 Billion Conglomerate: The International Holding Company (IHC) grew from a small, unknown firm to a $240 billion conglomerate with the support of Sheikh Tahnun bin Zayed Al Nahyan, and expanded into various sectors and global investments.
The International Holding Company (IHC) in the United Arab Emirates has experienced unprecedented growth, transforming from a small, relatively unknown company to a sprawling conglomerate with over 400 subsidiaries and a market capitalization of nearly $240 billion. This growth can be attributed to the support and investments from powerful figures in the UAE, specifically Sheikh Tahnun bin Zayed Al Nahyan, a brother of the UAE's president and ruler of Abu Dhabi. IHC's subsidiaries span various sectors, including agriculture, healthcare, leisure, retail, and even maritime and investments in global firms like Adani Group and SpaceX. The company's assets have grown exponentially, increasing from $215 million in 2018 to $54 billion as of September 2021. The mysterious rise of IHC raises questions about the role of powerful figures and the potential implications for other companies around the world. Tune in to Behind the Money to learn more about this intriguing story.
Sheikh Tanoon's Business Expansion in Abu Dhabi: Sheikh Tanoon, a senior royal family member in Abu Dhabi, has significantly expanded his business interests, and now chairs multiple entities including a state investment vehicle, the UAE's biggest bank, and a conglomerate called IHC, leading to exponential growth and increased market share in the Abu Dhabi Securities Exchange.
Sheikh Tanoon, the royal figurehead of Abu Dhabi, has seen his business interests and influence significantly expand in recent years. Once known for his roles as the country's national security advisor, chairman of a state investment vehicle, and the UAE's biggest bank, Sheikh Tanoon's reach extended further when he became the chairman of IHC in April 2020. IHC, a conglomerate with tentacles in various industries, has experienced exponential growth, leading to a surge in the market capitalization of the Abu Dhabi Securities Exchange (ADX) where it is listed. This growth, however, comes with sensitivity as the UAE is an autocratic state, and reporting on the links between a senior royal family member and a growing business empire can be a complex task. Despite the challenges, it's clear that Sheikh Tanoon's business interests have come to dominate the Abu Dhabi business landscape, making him a pivotal figure in the nexus of politics, power, and business in the UAE.
IHC's Growth Amidst Transparency Concerns: IHC's growth is attributed to its multi-stream investment strategy, but the absence of independent research and transparency surrounding the company's operations continues to raise concerns among investors
IHC, the largest stock on the Abu Dhabi Securities Exchange, has experienced remarkable growth, but the lack of transparency and independent market research surrounding the company has raised concerns. The CEO, Syed Basar Shuab, was interviewed to address these questions. He explained that the company's growth was due to their multi-stream investment strategy and that the absence of independent research was not their responsibility. IHC had transferred assets from another company, Royal Group, which is a part of Sheikh Taj Noon's conglomerate. Despite their assurances, the lack of transparency and understanding of the company's operations continues to leave many investors scratching their heads.
IHC's Rapid Growth: Reasons Unclear: Despite a 25,000% increase in assets, the reasons behind IHC's growth and the true value of contributing assets remain unclear, raising concerns about transparency.
International Holding Company (IHC) has experienced exponential growth in recent years, with its total assets increasing over 25,000 percent in just four years. However, the explanation provided by the CEO regarding the reasons behind this growth and the assets that contributed to it did not fully satisfy the investigators' questions. The transfer of assets worth approximately $4.7 billion was revealed, but it did not account for the massive gap between the reported assets and the actual figures. The company's rapid transformation may be linked to the oil price boom in 2021, but it's important to note that the growth started before the boom and would have likely occurred regardless. The lack of transparency surrounding the assets and their valuations raises concerns about the true nature of IHC's growth.
Unusual trading patterns in IHC's shares: Suspicions of pre-arranged orders, lack of liquidity, and potential manipulation in IHC's shares due to a small number of significant shareholders
That there are unusual trading patterns in IHC's shares, with a large percentage of transactions being in bulk, which is not typical for publicly listed companies. This raises suspicions of pre-arranged orders and a lack of liquidity for investors due to a small number of significant shareholders. Market analysts have noticed this pattern and suspect it may be a sign of manipulation, although there is no evidence of illegal activity. The ADX, where IHC is listed, maintains that it adheres to high principles of corporate governance and transparency. However, the autocratic nature of the Gulf state where the exchange is located may limit the level of debate and interaction around such issues. Andrew, the journalist, continues to investigate and has raised concerns about IHC's trading activities.
Abu Dhabi's Business Landscape: State Domination and Unclear Goals: Despite state control, IHC, a private Abu Dhabi firm, expands globally, facing scrutiny over transparency and business strategy.
Abu Dhabi's business landscape is dominated by the state and its affiliates, leaving less room for private companies to compete. The example of Sheikh Hamed bin Zayed Al Nahyan's business empire illustrates this, as he holds significant influence through various private and state-owned entities. The transparency of these business dealings and the ultimate goals behind them are also unclear, raising concerns as IHC, a private company, continues to expand its reach. As IHC grows more global, it will face increased scrutiny regarding its transparency and business strategy.
Exploring the Power of Information and Collaboration: Bank of America empowers businesses to thrive and grow with their solutions, while Bellingcat uncovers hidden truths using publicly available resources. Both entities highlight the importance of access to information and community collaboration.
Both Bank of America and Bellingcat demonstrate the power of access to information and community collaboration. At Bank of America, they offer business solutions to help businesses thrive and grow. Meanwhile, Bellingcat uses publicly available resources to uncover hidden truths and empowers others to do the same. These two entities showcase the importance of having the ability to dig deeper and connect the dots. For Bank of America, it's about providing businesses with the tools they need to succeed. For Bellingcat, it's about using those same tools to uncover the truth and share it with the world. If you're interested in the business solutions offered by Bank of America, visit their website at bankofamericadotcom/slashtechnology-for-business. And if you're inspired by Bellingcat's mission to uncover the truth, join their community and learn how you can make a difference at bellandcat.com.
