Tracking the mysterious rise of a UAE company
Behind the Money
Topher Forhecz
4.4 • 350 Ratings
🗓️ 8 March 2023
⏱️ 24 minutes
🧾️ Download transcript
Summary
Over just a few years, the share price of an obscure company from the United Arab Emirates has jumped 40,000%. But little is known about International Holding Company, which has investments in everything from Elon Musk’s SpaceX to India’s Adani Group. The FT’s Middle East editor travelled to Abu Dhabi to get answers about its rapid growth and its connections to some of the most powerful people in the Gulf.
Clips from MSNBC, CBS
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For further reading:
The UAE business that went from obscurity to a $240bn valuation in 3 years
The sheikh’s empire driving Abu Dhabi’s meteoric stock market rise
The Abu Dhabi royal at the nexus of UAE business and national security
Groovy girls, typing pools and labour camps: the complicated world of IHC
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On Twitter, follow Andrew England (@cornishft) and Michela Tindera (@mtindera07)
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | Am I missing anything? Is this the right decision? |
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| 0:29.6 | It's a truth universally acknowledged that all companies want to grow. |
| 0:37.0 | But the company we're going to be talking about in this episode, |
| 0:41.0 | its growth has been off the scale. |
| 0:44.0 | Its share price since 2019 has risen more than 40,000 percent, |
| 0:51.0 | and it's got a market capitalization of close to 240 billion dollars. |
| 0:57.0 | That's more than double the market cap of GE or Siemens. |
| 1:01.0 | That's the F.T's Andrew England talking there. And the reason his |
| 1:05.2 | interest in this company was peaked was not just because of its growth. It's |
| 1:09.9 | also because of where this particular company operates. |
... |
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