Qatari Royal Secretly Invested $50 Million In Newsmax

The Washington Post reports:

A member of the Qatari royal family invested roughly $50 million in Newsmax, according to documents and representatives for the media company and the royal, in a moment of acute Middle East tensions during the Trump administration. The investment bolstered a key conservative media outlet at a time when Qatar was facing intense diplomatic pressure from its neighbors and seeking allies in the United States.

At the time the investment was made, a coalition of countries led by Saudi Arabia and the United Arab Emirates had established a diplomatic and economic blockade against Qatar, accusing it of supporting terrorist groups across the Middle East. In 2019 and 2020, Sheikh Sultan bin Jassim Al Thani invested in Newsmax. Before and after the investment, senior newsroom leaders urged Newsmax staff to soften coverage of Qatar, current and former employees said.

Read the full article. According to the Post, Newsmax only confirmed the investment after being presented with filings leaked from a Cayman Islands trust. The royal’s stake is estimated to be as much as 25% of Newsmax’s worth.

Exclusive: A member of the Qatari royal family invested roughly $50 million in Newsmax, according to documents and representatives for the media company and the royal, in a moment of acute Middle East tensions during the Trump administration. https://t.co/QoL83BaHBO

— The Washington Post (@washingtonpost) March 26, 2024