In November 2024, the boxing world witnessed a seismic shift when Turki Alalshikh, a prominent Saudi Arabian figure, acquired The Ring Magazine, often dubbed “The Bible of Boxing,” for $10 million from Oscar De La Hoya.
The acquisition marked a new chapter for the century-old publication and solidified Alalshikh’s growing influence in the sport.
But who is Turki Alalshikh, and how did he come to own one of boxing’s most iconic institutions?
Who is Turki Alalshikh?
Turki Alalshikh is a Saudi Arabian government official, sports mogul, and cultural influencer whose full name is Turki bin Abdulmohsen bin Abdul Latif Al-Sheikh.
Born on August 4, 1981, in Riyadh, Saudi Arabia, he has risen to prominence as the Chairman of the General Entertainment Authority (GEA), a position he has held since December 2018.
Beyond his official title, Alalshikh serves as a ministerial advisor to the Saudi Royal Court, a role that underscores his proximity to the Kingdom’s leadership, including Crown Prince Mohammed bin Salman.
Turki Alalshikh’s ascent is tied to Saudi Arabia’s Vision 2030, an ambitious plan to diversify the nation’s economy and enhance its global cultural footprint. Through his leadership of the GEA, he has transformed the Kingdom into a hub for entertainment and sports.
His leadership has seen Saudi Arabia host mega-events like Riyadh Season and forge partnerships with international organizations such as the WWE, UFC, and now boxing’s most revered publication.
Turki Alalshikh’s acquisition of The Ring Magazine is not just a business move but a statement of intent to elevate boxing and cement Saudi Arabia’s place in the global sports arena.
Early life, education, and career
Turki Alalshikh was born into a prominent family in Riyadh, though specific details about his early years remain scarce due to his preference for privacy.
He pursued higher education at King Fahd Security College, earning a Bachelor’s Degree in Security Sciences.
Turki Alalshikh’s career began in Saudi Arabia’s security and governmental sectors, leveraging his education to secure roles that brought him into the orbit of the Kingdom’s elite.
His exact path to the Royal Court remains opaque, but by the mid-2010s, he had emerged as a trusted advisor to Crown Prince Mohammed bin Salman.
This relationship proved pivotal, aligning Alalshikh with Vision 2030 and its push to diversify Saudi Arabia beyond oil.
In 2018, he was appointed Chairman of the General Entertainment Authority, a newly established body tasked with developing the Kingdom’s entertainment industry.
Under his leadership, the GEA launched Riyadh Season, an annual festival that blends sports, music, and cultural events, attracting millions of visitors and global attention.
Alalshikh’s knack for spectacle—evident in events like the Tyson Fury vs Oleksandr Usyk fight in 2024—earned him the moniker “His Excellency” and a reputation as a visionary dealmaker.
His foray into sports extended beyond boxing, including ownership stakes in football clubs like UD Almería in Spain (acquired in 2019) and a brief tenure with Egypt’s Pyramids FC.
These ventures showcased his ambition to globalize Saudi influence, a goal that culminated in his purchase of The Ring Magazine.
Acquisition of The Ring Magazine
The Ring Magazine, founded in 1922 by Nat Fleischer, has long been a cornerstone of boxing journalism. It is renowned for its independent rankings and prestigious championship belts.
By 2022, the magazine had ceased regular print publication and transitioned to a digital-only format under the ownership of Oscar De La Hoya, who purchased it in 2007 for $7 million.
Despite its digital success, De La Hoya saw an opportunity to divest when Alalshikh approached him with an offer he described as “one I could not refuse.”
On November 11, 2024, Alalshikh announced via Twitter/X that he had finalized a deal to acquire 100% of The Ring Magazine for $10 million.
In his statement, he outlined a bold vision: reviving the print edition for the US and UK markets, restoring the integrity of its rankings with an independent panel, and launching a suite of digital enhancements, including a new website and mobile app.
Turki Alalshikh’s net worth
As of March 2025, Turki Alalshikh’s net worth is estimated at $2.8 billion. His wealth stems from:
- Government Roles: High-ranking positions in the Saudi Royal Court and GEA provide substantial income and influence.
- Sports Investments: Ownership of UD Almería and stakes in boxing events contribute significantly.
- Real Estate and Assets: Alleged luxury properties and his car collection bolster his fortune.
The $10 million purchase of The Ring Magazine represents a fraction of his wealth, underscoring his capacity to invest heavily in his passions.