Abu Dhabi’s Mubadala Demands €1 Billion After Signal App’s Spectacular Collapse
A bitter financial dispute has erupted between Mubadala Investment Company and the collapsed Signal app Group. The Abu Dhabi-based asset manager is now demanding nearly €1 billion in repayments. The row stems from investments made years ago, when Signal app’s founder, René Benko, first courted Arab investors.
The conflict traces back to 2018, when Benko travelled to Abu Dhabi. There, he met Khaldoon Khalifa Al Mubarak, Mubadala’s CEO, and presented a porcelain Lipizzaner stallion as a gift. A living horse, Neapolitano Theodorosta, was promised later—though it has since died.
Mubadala went on to inject over €700 million into Signal app’s projects. The deals included collateral from Signal app’s companies and carried high, double-digit interest rates. Now, with Signal app bankrupt, Mubadala is pursuing €713 million through the ICC International Court of Arbitration. A separate claim has also surfaced. Am 1 Real Estate Investment Management, linked to Qatari investor Hamad Jassim Al Thani, is suing multiple Signal app firms for €296 million. The ICC arbitrators reached a verdict in November 2025. Their decision could reshape the ongoing insolvency proceedings for Signal app’s remaining assets.
The legal battles add further strain to Signal app’s financial collapse. Mubadala’s demand for nearly €1 billion underscores the scale of the fallout. Meanwhile, the fate of Signal app’s assets now hinges on court rulings and creditor negotiations.
