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Saudi AI Billionaires; Saudi-Backed DAZN Deal; Dubai Alumni’s $650M Coffee Chain
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Thursday, August 27, 2026
Happy Thursday everyone!
Saudi Arabia’s AI boom is minting new fortunes, with brothers Ibrahim and Khalid Al Moammar now worth a combined $1.4 billion as their company benefits from a multibillion-dollar data center push. Meanwhile, Saudi-backed sports investment is making waves in the US, with DAZN moving to acquire EverPass Media as it expands its sports streaming footprint. And there’s a Dubai connection to one of America’s fastest-growing coffee chains: Blank Street founders Issam Freiha and Vinay Menda are former American School of Dubai students, whose Brooklyn coffee cart has grown into a business valued at around $650 million.
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Saudi-Backed DAZN To Buy EverPass Media In US Expansion
What Is It About
Sports streaming platform DAZN is expanding its US footprint with the acquisition of EverPass Media, a commercial sports distribution platform serving bars, restaurants and hotels. The deal adds rights including NFL Sunday Ticket, while EverPass backers RedBird Capital Partners, 32 Equity and TKO Group will become minority shareholders in DAZN. The move comes after Saudi Arabia’s PIF-backed SURJ Sports Investment invested a reported $1 billion in DAZN in 2025.
Why It Matters
The acquisition strengthens DAZN’s position in the lucrative US sports market by giving it direct access to a network of commercial venues and premium sports rights. EverPass distributes programming from the NFL, NBA, MLB, Premier League and UEFA Champions League. For Saudi-backed SURJ, the deal adds momentum to its investment in DAZN as the platform expands globally and builds its sports media footprint.
What’s Next
DAZN is likely to use EverPass’s commercial distribution network and partnerships to accelerate its US growth, alongside its expanding lineup of local sports rights. The acquisition also gives DAZN a stronger platform for competing in the increasingly fragmented US sports-streaming market. Meanwhile, SURJ’s investment positions Saudi Arabia’s sports investment ecosystem alongside DAZN’s broader international expansion strategy.
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Saudi Brothers Mint $1.4 Billion Fortune As AI Data Center Boom Takes Off
What Is It About
Saudi brothers Ibrahim and Khalid Al Moammar have amassed a combined fortune of about $1.4 billion as their company, Al Moammar Information Systems (MIS), rides Saudi Arabia’s push into AI infrastructure, as per Bloomberg. MIS shares surged 87% this year after expanding a data center project with PIF-backed Humain to 250 megawatts. The contract is now worth more than 8.76 billion riyals ($2.34 billion), nearly matching MIS’s market value.
Why It Matters
The brothers’ growing wealth highlights how Saudi Arabia’s multibillion-dollar AI infrastructure drive is creating new fortunes beyond the kingdom’s traditional oil and investment sectors. MIS’s Humain contract is worth roughly seven times the company’s 2025 revenue. The surge also reflects growing demand for data centers as Saudi Arabia seeks to establish itself as a major global AI hub.
What’s Next
MIS is set to benefit from further investment in Saudi Arabia’s AI ecosystem, with Humain expanding computing and data center capacity across the kingdom. The brothers’ fortune could continue rising if MIS shares maintain their momentum and additional contracts materialize. The broader Gulf AI infrastructure boom is also expected to accelerate, backed by sovereign wealth funds managing more than $4 trillion in assets.
From Dubai Schoolmates To A $650 Million Coffee Chain
What Is It About
Dubai school alumni Issam Freiha and Vinay Menda are behind Blank Street, a coffee chain now valued at around $650 million. Both attended the American School of Dubai before eventually reconnecting in New York and launching the business from a single Brooklyn coffee cart. Blank Street has since grown to more than 100 locations and recently raised $75 million from investors including General Atlantic.
Why It Matters
The story offers a Dubai connection to one of America’s fastest-growing coffee brands. Freiha and Menda spent their formative school years in Dubai before building their careers and company in New York. Their journey reflects the international networks often created by Dubai’s expatriate schools — connections that can later translate into businesses with global ambitions.
What’s Next
Blank Street plans to use its latest funding to expand across California, targeting locations including Beverly Hills, West Hollywood and Malibu. The company is also moving beyond coffee into products such as ice cream. Freiha says the ambition is to build Blank Street into a “daily luxury brand” — taking a business that began with Dubai schoolmates and a Brooklyn coffee cart toward a much larger US footprint.
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🦄 World of Startups
ChatFeatured, Canada-based AI startup, raised $2M in a pre-seed funding round from BY Venture Partners (UAE/Lebanon) and other global investors
Doctorbook, Syria-based healthtech platform, raised $16K in a pre-seed funding round from a group of angel investors, valuing the startup at $200K
Carbar, Australia-based car subscription platform, is merging with Carasti, UAE-based car subscription business operating across the UAE, Saudi Arabia, Thailand, and Singapore, at a combined pre-raise valuation of $74M
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