Other Activities
In July 1982, Yamani founded Investcorp, private equity firm, with several other oil ministers and well-known financiers. The firm's initial investments included Tiffany & Co., Breguet, a Swiss watch maker, and Chaumet, a French jewellers. Yamani, himself known to be a watch lover, also became majority shareholder of Vacheron Constantin in 1987. In 1996, Yamani's shares were then sold to Vendôme Luxury Group, owned by Richemont. During the eleven years of his ownership, watch production increased from 3,614 to 11,019.
In 1988, Yamani established the Al-Furqan Islamic Heritage Foundation under The Yamani Cultural and Charitable Foundation, which endeavours to preserve and publish historically important Islamic works.
In 1990, Yamani founded the Centre for Global Energy Studies, a London-based market analysis group claiming to provide objective information on energy issues. Board members have included Edward Heath, Valéry Giscard d'Estaing and Denis Healey, all friends of Yamani.
With the death of King Fahd in August 2005 some feel it was still possible that Yamani would return to the Saudi Government under King Abdullah, most likely as an ambassador, but sources close to Yamani indicated that it was highly unlikely.
Read more about this topic: Ahmed Zaki Yamani
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