Iconiq, Go-To Wealth Adviser for Tech’s Elite, Is Putting Billions Into AI

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(Bloomberg) -- Last year, Anthropic PBC chief Dario Amodei and a fistful of executives traveled 8,000 miles from San Francisco to the Middle East. They were determination to meet with immoderate of the world’s astir deep-pocketed investors, including Qatar’s sovereign wealthiness money and Abu Dhabi-based MGX.

Photos of Amodei and wealthiness money officials including Ibrahim Ajami, caput of ventures at Mubadala Capital, were widely circulated online. Missing from the headlines was the trip’s organizer: Iconiq, a fiscal steadfast that has managed the idiosyncratic fortunes of elder figures successful Middle Eastern and Asian governments for much than a decade, arsenic good arsenic those of tech leaders similar Mark Zuckerberg and Satya Nadella. 

Historically a behind-the-scenes operator, Iconiq has grown into a behemoth with $100 cardinal successful assets nether management, according to documents obtained by Bloomberg and a idiosyncratic acquainted with the matter. Its clients person included planetary royal families, billionaires and A-list stars like Tom Cruise and Pharrell Williams, the radical said, relationships that haven’t been antecedently reported. 

Recently, Nvidia Corp.’s Jensen Huang, the world’s eighth-richest person, has besides signed connected arsenic a client, said 1 of the radical with cognition of the situation, asking not to beryllium identified discussing backstage information. Iconiq, which is famously secretive, repeatedly declined to remark on its lawsuit list.

Now, Iconiq is further branching retired from the comparatively staid satellite of wealth management, and expanding its reach into venture superior — making large bets connected companies like Anthropic, pioneering a caller benignant of investing and becoming a multibillion-dollar force in tech’s artificial quality frenzy. Iconiq enactment much than $3 cardinal into AI startups successful 2025 alone, connected par with the concern tallies of immoderate of Silicon Valley’s best-known VC firms.

Up next, San Francisco-based Iconiq is upping the stakes for its task arm, with plans to raise billions for a caller fund, according to a securities filing and people acquainted with the matter. That would adhd to its $26 cardinal nether absorption specifically for VC investing, making it 1 of the country’s biggest startup investors.