Richard Attias, the Moroccan-born events strategist behind major global gatherings such as the World Economic Forum and Saudi Arabia’s Future Investment Initiative (FII), remains undeterred despite mounting challenges to his events business. The 66-year-old has seen his plans disrupted by regional conflicts and economic shifts, most recently with the cancellation of the 10th edition of the FII, often dubbed "Davos in the Desert," following attacks on Saudi Arabia’s infrastructure by Yemen’s Iran-backed Houthi rebels.
Attias, who has spent nearly two decades in the Middle East after leaving a high-profile chapter in France, described himself as an experienced "old fox" accustomed to navigating crises over a 40-year career. He noted the ongoing conflict and the subsequent regional instability had upended his firm’s plans for an initial public offering, but expressed confidence in the kingdom’s long-term political stability as a key factor for global investors. Despite the Riyadh airport closure caused by the attacks and resulting fatalities, Attias mentioned that prominent guests had committed to attending by alternative routes.
Over the years, Attias has positioned himself as a discreet advisor and connector of political and business elites, helping countries diversify their economies and attract foreign investment. He recently launched North Street Advisory, a boutique consultancy focused on economic diversification and digital inclusion. Industry peers have praised his extensive network, while some former associates have described him as challenging to work with and occasionally suspicious of rivals. Attias, however, embraces competition and cites the late Intel CEO Andy Grove’s maxim "only the paranoid survive" as an influence.
Attias’s career has been marked by both notable successes and controversies. In 2004, his personal life drew significant media attention amid a scandal involving France’s former first lady Cécilia Sarkozy. Professionally, he helped organize the Clinton Global Initiative and facilitated international economic forums, gaining experience in New York and Dubai before securing a major patron in Saudi Arabia’s Crown Prince Mohammed bin Salman. The FII, launched in 2017, became a key platform for attracting international investors to Saudi Arabia’s economic transformation efforts, drawing figures from Wall Street, sovereign wealth funds, technology sectors, and political leadership.
However, the conference’s reputation was challenged after the 2018 murder of Saudi journalist Jamal Khashoggi in Istanbul, which sparked global condemnation and a withdrawal of several high-profile participants. Saudi Arabia’s Public Investment Fund now holds a 75 percent stake in Attias’s company, Richard Attias & Associates (RAA), after the departure of UK advertising group WPP as a shareholder. Questions about Attias’s close ties to authoritarian regimes have drawn criticism; some view his work as legitimizing controversial leaders. Attias defends his engagements as supporting visionary leaders aiming for national development and inclusive growth.
Recent changes in Saudi Arabia’s strategy, including spending cuts and delays in major projects like Expo 2030 Riyadh and the 2034 FIFA World Cup, pose further risks to Attias’s events business. Critics warn that RAA may be over-reliant on its Saudi client. Attias rejects this, emphasizing a global footprint with offices in New York, Paris, Dubai, Riyadh, Africa, and expanding into Asia. The company is reallocating resources and diversifying its market reach amid current uncertainties.
Despite the setbacks, Attias remains focused on preparing RAA for a stock market listing, viewing it as a significant milestone and a legacy for his company. Reflecting on the postponed FII event, he expressed disappointment but underscored the importance of celebrating milestones with a full complement of participants.