Billionaire investors Thomas Tull and Mark Walter are embarking on an ambitious new venture, aiming to raise $15 billion from investors, including Mubadala Capital, to fund acquisitions and investments in artificial intelligence (AI) across multiple sectors, including financial services, sports, and defence.
In an exclusive interview with the Financial Times, Tull, who previously owned the movie studio Legendary Entertainment and has a significant presence in defence startups, outlined their strategy. He revealed that Tull and Walter, the CEO of Guggenheim Partners, have combined their personal investments, totaling $40 billion, to create a holding company, TWG Global, designed to explore strategic acquisitions and drive innovation in cutting-edge technologies.
“Globally, there are going to be really interesting opportunities, whether it’s to acquire companies, whether it’s to invest in new technologies and get behind things,” Tull said in the interview.
The newly formed TWG Global is set to leverage AI to pinpoint lucrative acquisition opportunities and optimize operations across its portfolio. As part of their growth strategy, the pair are using AI-driven insights to identify the most promising investment avenues. “The idea was to have artificial intelligence drive everything we do… We would put a team together and we would weigh and measure everything,” Tull explained.
The fundraise, which is nearing completion, has already received significant commitments, including a $10 billion preferred equity investment syndicated by Mubadala Capital. This partnership also includes TWG taking a 5% stake in Mubadala, an Abu Dhabi-based investment management company.
Among TWG’s first major initiatives is a strategic collaboration with Elon Musk’s xAI and data intelligence firm Palantir. Together, they aim to develop an AI platform that will help banks and insurance companies process and analyze vast amounts of financial data. The platform, set to leverage Palantir’s advanced data analytics capabilities alongside xAI’s reasoning models and computing power, will focus on processing “unstructured data” — information that is typically difficult to manage, such as images, PDFs, and audio recordings, but constitutes a substantial portion of the data handled by financial institutions.
This new venture will soon be deployed within Guggenheim Partners and its insurance business, Group 1001, where it is expected to revolutionize the way financial data is analyzed. Sources familiar with the project have confirmed that the platform will be officially unveiled later this week.
Tull and Walter’s ambitious plans are poised to disrupt industries ranging from finance to sports and defence. With an eye on cutting-edge technologies and AI-powered operational efficiencies, the duo is setting the stage for significant growth and innovation in the coming years.
