Who Is Sheikh Jassim Al Thani and How Wealthy Is He?

1 year ago

In a world already filled with mysteries, Sheikh Jassim bin Hamad Al Thani is an even more enigmatic figure. So who is the person behind the potential acquisition of Manchester United, and what powers lie behind him?

Who is Sheikh Jassim?

Sheikh Jassim bin Hamad All Thani is the son of former Qatari Prime Minister Hamad bin Jassim bin Jaber Al Thani, who held the position from 2007 to 2013. His father played a crucial role in helping Qatar secure the hosting rights for the 2022 World Cup.

Born in 1982, Sheikh Jassim received his education at the prestigious Royal Military Academy in Sandhurst, where he graduated as an officer. He later became the chairman of one of Qatar's leading banks, Qatar Islamic Bank (QIB). He has also served as a Director of the Credit Suisse Group and has been a member of the board of directors of several other Qatari companies.

Key points from Sheikh Jassim bin Hamad Al Thani's proposed offer to acquire Manchester United:

• Clearing the debt burden that the Glazers has imposed on Manchester United for many years.
• Investing in the club's infrastructure.
• Distributing profits.
• Transforming Manchester United into the greatest club in the world.

What is Sheikh Jassim's connection to Manchester United?

According to a report from Sky Sports, Sheikh Jassim has been a devoted fan of the Red Devils since he was a 10-year-old boy back in 1992.

It's worth noting that Sheikh Jassim's intention behind acquiring Manchester United is not driven by financial gain. The funds for the club's purchase originate from a non-profit organization he established in 1992 called the Nine Two Foundation. This particular year holds significant importance for Sheikh Jassim, as it marks the beginning of his passion for the Red Devils, coinciding with the iconic Class of '92 era of the club. This era boasted legendary players such as Ryan Giggs, David Beckham, Paul Scholes, and the Neville brothers.

Some say that Sheikh Jassim named his organization, Nine Two, as a homage to the renowned 1992 generation of Manchester United.

How wealthy is Sheikh Jassim?

Many people may question Sheikh Jassim's wealth. He is only the chairman of a medium-sized bank by global standards, but the plan to acquire and rebuild Manchester United is extremely costly and requires unlimited financial resources. So where is the money coming from?

Sheikh Jassim is the son of Sheikh Hamad bin Jassim bin Jaber Al Thani (known formally by his initials HBJ), the former Prime Minister of Qatar, who also served as the Deputy Chairman of the Qatar Investment Authority (QIA). HBJ's heyday was associated with the former Emir of Qatar Sheikh Hamad bin Khalifa Al Thani, who jokingly said that if he ruled Qatar, then HBJ owned it.

Although many British people may not recognize Sheikh Jassim by name, they are probably familiar with his initials, HBJ. He gained the nickname "London Buyer" due to his investments in various significant properties in the UK capital between 2000 and 2013. Through the QIA, he acquired notable assets such as the Canary Wharf complex, Harrods department store, the Olympic Village, and the Shard building.

In recent times, HBJ faced controversy for giving Prince Charles a suitcase containing 1 million euros in cash as a gift back in 2015.

HBJ left politics in 2013, immediately after Sheikh Hamad abdicated and handed over power to his son Sheikh Tamim, the current Emir of Qatar, who famously draped Lionel Messi with a cloak during the 2022 World Cup victory celebration. HBJ did not want to become an obstacle for the country's leader and voluntarily reduced his influence in various aspects.

In addition to stepping down from QIA, HBJ sold a significant stake (nearly 50%) in Qatar Airways to the state and granted operational control to his son Sheikh Jassim on multiple boards of numerous companies, including QIB. Worth mentioning, QIA is the largest shareholder of QIB, holding a 17.7% stake.

Sheikh Jassim's net worth and his family business

According to the Sunday Times, Sheikh Jassim's estimated wealth amounts to approximately £2 billion (~ $1.2 billion), while his father HBJ's fortune is valued at no less than £20 billion. It is worth noting that these figures may not reflect the full extent of their wealth, which could be considerably higher. 

However, it is crucial to understand that the funds for the acquisition of Manchester United may not be directly sourced from their personal finances. Behind the scenes, it is the Qatari royal family who plays an active role in utilizing sports as a means to promote the country's image and enhance its soft power on a global scale. 

The Qatari royal family has been known to invest significantly in sports ventures, including football clubs and major sporting events. This strategic approach allows Qatar to gain international visibility and influence, contributing to its broader objectives.

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