The ‘Mega Forces’ Spreading Middle East Wealth Across the Globe

When Iran launched a missile barrage at an American air base in Qatar this summer, it was one of the most direct attacks on US assets in the Middle East in years. Yet just hours after the projectiles were shot down in the night sky over Doha, it was business as usual in the country’s capital and financial hub. In neighboring Abu Dhabi, investments proceeded on track, and bankers in Dubai expressed confidence that the United Arab Emirates would sidestep any major fallout. In the weeks after the attack, Bloomberg News reported that American companies including BlackRock Inc. and Elon Musk’s xAI were discussing deals in Saudi Arabia.

It will apparently take more than a few ballistic missiles to shake the business community’s confidence in the Middle East. With its low-tax regimes and growing pool of sovereign and family wealth—which now tops $5 trillion—the region has weathered all kinds of instability. Even as conflict in the area has greatly intensified since 2023, investors there are signaling that the Middle East is still open for business, and global companies are eager to accept their money.