Abu Dhabi’s Mubadala Investment Company played a major role in sovereign wealth fund (SWF) activity in 2024, accounting for nearly 20% of the $136.1bn total spent worldwide. Mubadala deployed $29.2bn in 2024, a substantial rise from the $17.5bn invested the previous year. Key focuses included the digital economy, AI and digitisation.
Mubadala’s aggressive investment strategy reflects Abu Dhabi’s commitment to establishing itself as a leading player in strategic sectors worldwide. Last year it overtook Saudi Arabia’s Public Investment Fund (PIF) in global spending.
There was an overall surge in spending from the Gulf in 2024, demonstrating a growing prominence in global investment, leveraging wealth derived from oil to diversify economies and encourage innovation. Sovereign wealth funds not only increased in scale but also targeted transformative sectors most likely to define the future.
Gulf Economist Staff Writer