Get to Know Yasir Al-Rumayyan, the New Most Powerful Person in Golf
With the stunning merger between the PGA Tour, DP World Tour and LIV Golf, Yasir Othman Al-Rumayyan is set to become the chairman of the new golf tour, with PGA Tour commissioner Jay Monahan serving as CEO. There are many details still to come as to how this new tour will work and many questions to be answered, but one thing is clear: Yasir Al-Rumayyan is now the most powerful person in golf. Who is he? Get to know pro golf’s new top boss.
> Al-Rumayyan, 53, is the governor of Saudi Arabia’s Public Investment Fund, reportedly the sixth-largest fund in the world with more than $600 billion in assets and investments around the world. The PIF is the financial engine behind LIV Golf.
> Al-Rumayyan was born in Buraidah, 350 kilometers northwest of Riyadh, to a Saudi father and Syrian mother. He studied accounting at King Faisal University in Al-Hofuf, a city in the east side of Saudi Arabia.
> He had a successful career as a banker in Saudi Arabia, rising to CEO of a company called Saudi Fransi Capital while transforming it into one of the leading financial institutions in Saudi Arabia.
> That got the attention of Saudi’s crown prince, Mohammed Bin Salman (MBS), who invited Al-Rumayyan to join the Royal Court shortly after the death of his father, King Abdullah, in 2015. Within months of his first meeting with MBS, Al-Rumayyan was tabbed to manage and grow the PIF.
> In 2016 MBS launched Vision 2030, a plan for the Saudi PIF to diversify beyond oil and into a more global portfolio. Al-Rumayyan, an avid golfer and reported 12 handicap, led the initiative.
> That same year Al-Rumayyan became chairman of Aramco, Saudi Arabia’s oil company and one of the most valuable businesses in the world. Today his business involvements include serving as member of the board of directors for Reliance Industries, one of India’s largest companies, and holding a seat on the board at Uber.
> He was reportedly an average student, but his social and negotiating skills, particularly on the golf course, were valued by the Saudi royal family as a big asset. MBS bought Al-Rumayyan a $60 million home near the presidential palace. Al-Rumayyan is viewed today as MBS’s right hand.
> Before it invested in the startup golf league, the PIF, with Al-Rumayyan as its leader, had already spent cash on other sports, most notably the English soccer club Newcastle United—PIF spent $409 million for an 80% stake in Newcastle in the fall of 2021, and Al-Rumayyan today serves the chairman of the club.
> The PIF bankrolled LIV Golf, which launched in 2022. The New York Times reported that the PIF spent $2 billion on a combination of player signing bonuses, $25 million tournament purses and staffing, including Greg Norman as league commissioner. Al-Rumayyan appeared in person at several LIV events.
> It all came to a head on June 6, 2023, when LIV Golf, the PGA Tour and DP World tour announced a merger and consolidation of operations under a new, yet-to-be-named global tour. PGA Tour commissioner Jay Monahan will serve as CEO, while Al-Rumayyan will be installed as chairman. And with that, he’s most powerful man in golf.