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According to The Washington Post, the right-wing news outlet Newsmax received a substantial investment of approximately $50 million from a Qatari royal between 2019 and 2020. Documents seen by the paper and confirmations from representatives of both Newsmax and the royal investment firm support this claim.
Former Qatari government official Sheikh Sultan bin Jassim Al Thani made the investment through Heritage Advisors, his London-based investment fund. At the time, Qatar faced an economic and diplomatic blockade led by neighboring Arab states, including the United Arab Emirates and Saudi Arabia, who accused Qatar of supporting terrorism.
The investment in Newsmax was made during a period when the outlet was seeking investors to compete with major networks like Fox News. Some sources employed at Newsmax alleged that they were encouraged to soften news coverage of Qatar following the investment, a claim that the outlet denies.
A Newsmax spokesperson stated that the coverage of Qatar has always been balanced, including critical reports of its activities. The Qatari royal later transferred his stake to a Cayman Islands-based corporate structure, representing a significant minority stake in Newsmax.
Newsmax has faced criticism for promoting misinformation, particularly regarding former President Donald Trump’s claims of election fraud in the 2020 election. This controversy resulted in a defamation lawsuit filed by Dominion Voting Systems seeking over a billion dollars in damages.
