Most people will be unfamiliar with the name Turki bin Abdul Mohsen Al-Sheikh. However, boxing fans will surely recognize Turki Alalshikh, the Arab billionaire who is reshaping the world of combat sports thanks to his incredible wealth.
Turki Alalshikh, as he is known worldwide, is the chairman of the General Entertainment Authority (GEA) of Saudi Arabia and one of the most powerful men not only in boxing but in entertainment worldwide.
Alalshikh is the mastermind behind Riyadh Season, a month-long event in the Saudi capital that annually attracts the best exponents of music and sports from around the world.
The so-called Vision 2030 initiative, which includes the Riyadh Season, aims to reduce the country’s dependence on oil. Focusing on the entertainment industry has proven to be an economic success for both, Saudi Arabia and Alalshikh.
What is Turki Alalshikh’s net worth?
Specialized sources such as Essentially Sports, Sportscasting, and Bet365 set Alalshikh’s net worth at $2.8 billion. This figure stems from both, his sports activities and government positions. In addition to being chairman of the GEA, Alalshikh is also an advisor to Crown Prince Mohammed bin Salman.
Alalshikh’s interest in sports goes beyond boxing. The tycoon also owns the Spanish soccer club AlmerÃa and previously owned the Egyptian Pyramids FC. A few months ago, he also acquired The Ring magazine, the most prestigious in the boxing world.
What other sources of income does Turki Alalshikh have?
Alalshikh is a well-known player in the real estate business. Although his property records are not public, press reports indicate he has stakes in the construction business and owns properties around the world, including Beverly Hills.
With the sums he has invested and plans to invest, there is no doubt that the long-term future of world boxing is closely tied to Turki Alalshikh’s plans. Where will the Arab billionaire’s vision take us? Only time will tell.
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