I joined Forbes as the Europe News Editor and will be working with the London newsroom to define our coverage of emerging businesses and leaders across the UK and Europe.
Saudi King Salman and his son Crown Prince Mohammed bin Salman have drawn some of the biggest names on Wall Street and tech to Riyadh for the kingdom's annual finance summit.As Israel continued to bombard Gaza just two weeks after a devastating incursion of Hamas militants it was business as usual at a summit dubbed “Davos in the desert”, Saudi Arabia’s annual investment showcase.
Outside of headline speakers like JP Morgan’s Jamie Dimon, Goldman Sachs’ David Solomon, and former White House envoy Jared Kushner, few delegates at the gathering in the Saudi capital Riyadh were keen to be named. As headlines from the war flashed overhead on screens, business leaders offered platitudes:. “There is a new S in ESG which is security,” warned Citi’s Jane Frazer at the event, swapping out the social in “Environmental, Social and Governance” investing.
The war was a recurring talking point for the pundits in attendance. But the real business at the conference, which drew 6,000 business leaders, investors, and minor celebrities like Dr. Oz, were updates on Saudi Arabia’s massive experiment in breaking its economy’s reliance on oil. WeWork cofounder Neumann, who oversaw the coworking startup’s chaotic rush to a $47 billion valuation in 2019 before being ousted by his board just months later over a string of scandals touted his brand of “impact entrepreneurship” during aOne contest winner, who shouted “I love Adam Neumann'' to a round of applause, was awarded a mentorship with the man himself, a three-month stay at a property managed by his new startup Flow, which Neumann describes as “the Four Seasons” of condos.
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