Qatar Wants In On The Porsche Dream


Qatar At Night
Let’s say your small country in the Middle East has a galactic-ton of money, enough such that your’s is either the first or second-highest GDP in the world, depending on whose information you read. Despite having an absolute theocratic monarchy, you’ve established a culture centered on education and science and made healthcare a priority. By Middle East standards, you’re pretty liberal, though certainly no Amsterdam.

Granted, you have exponentially more sand than water, but you also have exponentially more oil and natural gas than sand and water combined. There is an absurd amount of these resources which ensure the money hose will be aimed your way for a while longer.

What does one do with all that money? Why, sink some of it into the most profitable carmaker in the world, Porsche.

Qatar’s Prime Minister Sheikh Hamad bin Jassem al-Thani (“Hammy-J” to his friends) was quoted in the Al-Arab newspaper as saying the government is, “looking into this issue, but we have yet to make a final decision on the matter. There are meetings.”

Oil prices are coming off a six-year blast to the moon. With that, the sovereign coffers began bulging with cash. In order to spread the wealth around, Qatar and other oil-sodden countries had been making investments all over the globe, including carmakers. Indeed, Abu Dhabi recently bought a 9.1% stake in Daimler AG for about $3.2B CDN. Though the coffers have taken a beating lately, what with the drop in oil prices and the general world economy tanking, there is still plenty of cash to throw around.

No investment amounts have been disclosed, but a Qatari infusion couldn’t hurt in helping to service various debts and loans, as well as help Porsche make its goal of increasing their stake in Volkswagen to 75%.