Premier League club Newcastle United have been taken over by a Saudi Arabian-backed consortium.

The consortium includes the kingdom’s $430 billion sovereign wealth fund PIF, chaired by Saudi crown prince Mohammed bin Salman.

With that acquisition, Mohammed bin Salman became the richest man owning a club in the Premier League, in front of Sheikh Mansour (Abu Dhabi), who controls Manchester City.

Sheikh Mansour’s fortune is valued at $31 billion, meaning that bin Salman is 14 times richer than City onwners.

🤝 An investment group led by the Public Investment Fund, and also comprising PCP Capital Partners and RB Sports & Media, has completed the acquisition of 100% of Newcastle United Limited and Newcastle United Football Club Limited from St. James Holdings Limited.

⚫️⚪️

— Newcastle United FC (@NUFC) October 7, 2021

Abramovich and the others

The Russian tycoon Roman Abramovich is now third on the list, with an estimated fortune of $14 billion.

Abramovich is the famous onwer of Chelsea since the Blues had been taken over by him in 2003, almost two decades ago.

Here is the full list.

Top 10 Premier League Richest Owners

1. Mohammad bin Salman (Saudi Arabia) Newcastle $434 billion
2. Sheikh Mansour (Abu Dhabi) Manchester City $31 billion
3. Roman Abramovich (Russia) Chelsea $14 billion
4. Stan Kroenke (USA) Arsenal $10.7 billion
5. Guo Chuangchang (China) Wolverhampton $6.8 billion
6. Nassef Sawiris (Egypt) Aston Villa $6.8 billion
7. Aiyawatt Srivaddhanaprabha (Thailand) Leicester $6.8 billion
8. Joe Lewis (UK) Tottenham $5.5 billion
9. The Glazers (USA) Manchester United $5.5 billion
10. Gao Jisheng (China) Southampton $4.2 billion