Jake Paul on PFL Super Fight Championship in Riyadh, hosting events in UAE and Mike Tyson


Amith Passela
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Jake Paul seems to have the Midas touch, turning everything he touches into gold.

At 27, the American is a successful actor, YouTuber, entrepreneur and professional boxer, and now co-founder of the Professional Fighters League Super Fight Division.

The promotion launched the first PFL Super Fight Championship Belt, which brings two title contests, between former UFC heavyweight champion Francis Ngannou and Renan Ferreira, and female MMA stars Cris Cyborg and Larissa Pacheo, to Saudi Arabia on October 19.

Paul was at the press conference last month to announce the Riyadh event along with the two heavyweight title contenders Ngannou and Ferreira.

“I think it’s great what the PFL and I have partnered to do, just to help fighters make more money and put them on a big stage,” Paul told The National in a Zoom interview.

“It’s gonna be amazing to have our first one in Riyadh with Francis Ngannou and Renan Ferreira and this fight is gonna be absolutely massive. They're massive and it's the 'Battle of the Giants'.

“These guys are huge and I believe someone's gonna get knocked out. Yeah, that's an exciting fight and you have two title fights with the co-main event being the Pacheo versus Cyborg. We are still filling out the rest of the card.”

Jake Paul at the PFL Super Fights: Battle of the Giants press conference at the The Anthem in Washington DC, on Thursday, August 22, 2024. PFL
Jake Paul at the PFL Super Fights: Battle of the Giants press conference at the The Anthem in Washington DC, on Thursday, August 22, 2024. PFL

Saudi Arabia has emerged as a hot spot for a wide variety of high-profile sporting events with Paul endorsing it as the right place to launch the PFL Super Fight Championship.

“I think the fight fans there love Francis, and I think it's a perfect spot for him to fight and it's just always exciting and this is going to be a massive fight. So it needed a massive place like Saudi Arabia to put the show on,” he said.

Ngannou became a recognised name among Saudi fans after his appearances in two high-profile heavyweight boxing bouts in the kingdom, against Tyson Fury in October 2023 and Anthony Joshua six months later.

“The fight game is developing in the kingdom and it's becoming more and more usual to go there and I think they have a ton of fight fans, which is the most important thing for a fight city,” Paul said.

“You need the fans to show up to all the events and that's what keeps happening there and the events keep on getting better and better.”

MMA, in particular, is growing in the region and Paul wants to widen the horizon for the PFL Super Fight Championship with Abu Dhabi and Dubai as prospective host cities for future events.

“There have definitely been conversations behind the scenes of going to Abu Dhabi or going to Dubai,” he said.

“I would love to take a fight there, and I have a lot of fans in both those places, so I think it'd be really fun.”

However, Paul may have to skip the first PFL Super Fight Championship in Riyadh as it clashes with his preparation for his boxing bout against former heavyweight world champion Mike Tyson on November 15 at the IT&T Stadium in Arlington, Texas.

“It's going to be a legendary historic night with 90,000 people at AT&T Stadium,” he said, when asked of his meeting with Tyson.

“It will be the most viewed fight ever. Just to even say that is very surreal and I know Mike is my toughest and strongest opponent yet.

“I have to move up to heavyweight and I believe he's going to be dangerous for the first half of the fight and then I believe I'll be able to stop him in the second half.”

Tyson is one of the most feared heavyweight champions in history and more than 30 years Paul's senior.

“No, it definitely matters,” Paul said when asked about the age difference. “I think it's the equaliser, right? I have youth, but he has experience and so many more years of boxing, so many more fights.

Jake Paul stands between Francis Ngannou and Renan Ferreira at the PFL Super Fights: Battle of the Giants press conference in Washington DC, on Thursday, August 22, 2024. PFL
Jake Paul stands between Francis Ngannou and Renan Ferreira at the PFL Super Fights: Battle of the Giants press conference in Washington DC, on Thursday, August 22, 2024. PFL

“He has the weight, me moving up to heavyweight, and then I believe he's more powerful. So that's what makes this a 50-50 fight in my opinion. The age is sort of my advantage.”

Paul has also signed up for PFL to compete as a professional MMA fighter in 2025 but his first appearance in the cage will have to come after his match against Tyson.

“They are trying to find a fight for me and find a name. It's just been difficult to find someone with a big enough name that makes sense. I’m sure that day will come,” he said of a possible MMA debut.

Paul hasn’t started MMA training as he’s been focused on his boxing and the upcoming match.

“Boxing takes up so much of my time tight now,” he said. “We will see, you know, it all depends on being able to find the right opponent and the timing but I'm ready whenever to make a big fight in MMA and obviously with the PFL, it's gonna be huge.”

Paul is confident PFL and the Super Fight Championships will be successful.

“I just have to put on my promotional hat and help promote the fight in the pay-per-view and get my fans excited and to be a part of the storyline and to do what all the other promoters do,” he said.

“PFL is already the second biggest MMA promotion behind the UFC. And obviously the UFC is massive, but I believe the PFL over the next couple of years will start to eat the UFC's lunch and we basically will keep on growing and growing.

“We already took their biggest star in Francis and I think other fighters will see Francis make tens of millions of dollars over here and look at their bank accounts at the UFC.

“They'll be like ‘Hey! I need to go over to the PFL and get what I'm worth.’ And the more fighters that do that, the bigger we're going to get and then I'm going to start fighting in MMA and the rest is history.”

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Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

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Your rights as an employee

The government has taken an increasingly tough line against companies that fail to pay employees on time. Three years ago, the Cabinet passed a decree allowing the government to halt the granting of work permits to companies with wage backlogs.

The new measures passed by the Cabinet in 2016 were an update to the Wage Protection System, which is in place to track whether a company pays its employees on time or not.

If wages are 10 days late, the new measures kick in and the company is alerted it is in breach of labour rules. If wages remain unpaid for a total of 16 days, the authorities can cancel work permits, effectively shutting off operations. Fines of up to Dh5,000 per unpaid employee follow after 60 days.

Despite those measures, late payments remain an issue, particularly in the construction sector. Smaller contractors, such as electrical, plumbing and fit-out businesses, often blame the bigger companies that hire them for wages being late.

The authorities have urged employees to report their companies at the labour ministry or Tawafuq service centres — there are 15 in Abu Dhabi.

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Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.

Based: Riyadh

Offices: UAE, Vietnam and Germany

Founded: September, 2020

Number of employees: 70

Sector: FinTech, online payment solutions

Funding to date: $116m in two funding rounds  

Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices

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Producers: KRTI Productions, T-Series
Director: Sree Narayan Singh
Cast: Shahid Kapoor, Shraddha Kapoor, Divyenndu Sharma, Yami Gautam
Rating: 2/5

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

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You Were Never Really Here

Director: Lynne Ramsay

Starring: Joaquim Phoenix, Ekaterina Samsonov

Four stars

Super 30

Produced: Sajid Nadiadwala and Phantom Productions
Directed: Vikas Bahl
Cast: Hrithik Roshan, Pankaj Tripathi, Aditya Srivastav, Mrinal Thakur
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Tax authority targets shisha levy evasion

The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.

Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".

The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.

He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.

"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.

As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.

Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Squad: Majed Naser, Abdulaziz Sanqour, Walid Abbas, Khamis Esmail, Habib Fardan, Mohammed Marzouq (Shabab Al Ahli Dubai), Khalid Essa, Muhanad Salem, Mohammed Ahmed, Ismail Ahmed, Ahmed Barman,  Amer Abdulrahman, Omar Abdulrahman (Al Ain), Ali Khaseif, Fares Juma, Mohammed Fawzi, Khalfan Mubarak, Mohammed Jamal, Ahmed Al Attas (Al Jazira), Ahmed Rashid, Mohammed Al Akbari (Al Wahda), Tariq Ahmed, Mahmoud Khamis, Khalifa Mubarak, Jassim Yaqoub (Al Nasr), Ali Salmeen (Al Wasl), Yousef Saeed (Sharjah), Suhail Al Nubi (Baniyas)

UAE currency: the story behind the money in your pockets

The Florida Project

Director: Sean Baker

Starring: Bria Vinaite, Brooklynn Prince, Willem Dafoe

Four stars

It Was Just an Accident

Director: Jafar Panahi

Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr

Rating: 4/5

Benefits of first-time home buyers' scheme
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The Brutalist

Director: Brady Corbet

Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn

Rating: 3.5/5

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Power: 727hp

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Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Bio:

Favourite Quote: Prophet Mohammad's quotes There is reward for kindness to every living thing and A good man treats women with honour

Favourite Hobby: Serving poor people 

Favourite Book: The Alchemist by Paulo Coelho

Favourite food: Fish and vegetables

Favourite place to visit: London

Updated: September 02, 2024, 12:00 PM