Inspirational Figures

Prince Abdullah bin Mosaad and his Ascent to Fortune

Published

2 months ago

31st October 2024

Huda

Prince Abdullah bin Musaad bin Abdulaziz Al Saud was able to enter the field of sports investing through its large gateway.

Prince Abdullah bin Mosaad bin Abdulaziz Al Saud was able to enter the field of sports investing through its large gateway.

With his ownership of Sheffield United, the team’s stadium, and other academic facilities, the Saudi owner advanced to a new level in the English sports club market, enabling him to propel the team to new heights of growth and achievement.

Early Ventures: The Beginning of a Football Empire

When the prince first came into the public eye in 2020, everyone was curious about his background and how he had accumulated a fortune—some people said it had reached $18 billion—but the prince told British media that it was just a few hundred million.

Sheffield United’s home stadium, Bramall Lane, has had Prince Abdullah as a stakeholder since 2013.

The saga of the Saudi prince and the English team started in September 2013 when he bought a 50% stake in Sheffield United, which was then third in the English Premier League, to join with Kevin McCabe.

However, it took six years of discussions with his English partner, Maccabi, before he was able to ultimately seize complete control of the club. He did this after winning a lawsuit in the UK High Court and then purchasing the remaining club shares for a total of five million pounds.

Following this significant milestone in the football club fan’s career, Sheffield United, also known as the Blades Club, made it to the Premier League twice after Prince Abdullah bin Mosaad acquired full ownership of the team. Since then, the team has been playing in the first division and has accomplished many notable feats for the modern club, such as finishing ninth in the Premier League for the 2020 season.

The Saudi prince owns more than only Sheffield United, though. Kerala United of India, Al Hilal United of Dubai, and K. Beerschot of Belgium are further clubs. His investments in football teams reveal Prince Abdullah bin Mosaad’s intense love for the game.

Debunking the Billionaire Myth

If you’re wondering where the prince’s fortune came from, it’s the paper business, not the oil industry, as many may assume. He established the business in 1989 and presided over it as chairman from 1991 until 2014.

The firm, which was part of the Saudi Paper Group (SPG), started out making large tissue rolls and eventually grew to become one of the biggest manufacturers in the Middle East.

Sales data for 2022 indicated that the prince made 300 million pounds sterling in the second quarter alone, demonstrating the magnitude of his achievement in this field.

Although an estimated $18 billion is the prince’s wealth, according to British media, he denied the rumours, emphasising that his wealth is not more than hundreds of millions of dollars. He stated that the rumours only served to reinforce the stereotype of the Saudi billionaire.

Prince Abdullah bin Mosaad said that he would have purchased Arsenal and the San Francisco 49ers if he truly had that much money.

Nonetheless, some rumours and sensitive details about the prince are still being circulated by British media outlets. His fortune is estimated to be 198 million pounds, and the Saudi prince has not yet stated, either in confirmation or denial, that he will give up the British club, United Sheffield, after ten years of ownership to make room for a new owner.

Prince’s Continued Influence in Sports and Industry

Remarkably, by leading the working group dedicated to organising and creating financial resources and taking into account the privatisation of the sports industry, the prince significantly contributed to sports investment in the Kingdom. He is also the author of the book “A Thousand Miles in One Step,” which was printed and published in 2001.

From an academic standpoint, Prince Abdullah bin Mosaad has a master’s degree in industrial engineering from King Saud University since 1993, as well as a degree in industrial engineering from the same university in 1987. He worked as a teaching assistant between graduation in 1987 and 1989, the year he founded his paper production firm.