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What exactly is the background of MGX?
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MGX Abu Dhabi was jointly founded in 2024 by Mubadala Investment Company, the sovereign wealth fund of Abu Dhabi, and AI giant G42, representing a prime example of a powerful collaboration.
Mubadala is a heavyweight player among global sovereign wealth funds. Its predecessor, Mubadala Development Company, was established in 2002 and fully owned by the Abu Dhabi government. In 2017, the Abu Dhabi government officially formed Mubadala Investment Company through the merger of Mubadala Development Company and the International Petroleum Investment Company . As of the end of 2023, Mubadala manages assets exceeding $300 billion, ranking among the top 10 sovereign wealth funds globally, and has established deep partnerships with international giants such as Microsoft, BlackRock, and SoftBank.
G42 is a pioneering company in artificial intelligence and cloud computing, supported by the Abu Dhabi government. It is a key driver of AI technology innovation in the UAE. Backed by heavyweight investors such as Mubadala, U.S. private equity giant Silver Lake, and Microsoft, G42 has formed strategic alliances with leading tech companies like OpenAI, Nvidia, Dell, and Cisco.
In addition to the strength of the investment institutions, the leadership behind it is even more noteworthy. The chairman of MGX’s board, Tahnoun bin Zayed Al Nahyan, is one of the key figures in the UAE's power structure. He is the sixth son of the UAE's first president, Zayed bin Sultan Al Nahyan, and the brother of the current UAE president, Mohamed bin Zayed Al Nahyan.
Binance founder CZ is now also a UAE citizen and owns property in Dubai. He has repeatedly expressed optimism about the UAE's crypto ecosystem.
This company is powerful—technology, politics, power, wealth, influence—it has it all.
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