At Semafor World Economy in Washington, DC last week, some executives wondered aloud if it would be good to “show face” in Abu Dhabi, as one put it, to offer an explicit vote of confidence in the self-styled “capital of capital.”
Orlando Bravo, founder of the investment firm Thoma Bravo, didn’t just wonder — he went. There, he met with Sheikh Tahnoon bin Zayed, who sits at the helm of much of the UAE capital’s $1.7 trillion in sovereign wealth, and discussed potential technology partnerships.
BlackRock’s Larry Fink also took advantage of the ceasefire in the Iran war, and traveled to Abu Dhabi to meet with UAE President Sheikh Mohamed bin Zayed and Minister of Industry and Advanced Technology — and ADNOC CEO — Sultan Al Jaber. Brookfield and Goldman Sachs, too, have sent top brass since the war began (meetings that tend to be well covered by state media).
As Semafor’s Matthew Martin wrote last month: “Gulf leaders and regulators have long memories. They remember who stands with them in times of trouble, and who ups sticks and leaves.”