Billionaire Jared Isaacman is set to take part in a nomination hearing by a US Senate committee on Wednesday that could see him become the new Nasa administrator.
If confirmed, Mr Isaacman would be the first private astronaut and technology billionaire to lead the US space agency, signalling a shift towards a more commercially integrated Nasa.
His nomination by US President Donald Trump was welcomed by many in the space industry, with about 30 astronauts who signed and released a letter, urging the Senate Commerce Committee to hold the hearing as soon as possible.
Senator Ted Cruz, a ranking member of the committee, posted on X on Tuesday that he had held a meeting with Mr Isaacman before the hearing.
“During our meeting, Mr Isaacman committed to having American astronauts return to the lunar surface ASAP so we can develop the technologies needed to go on to Mars,” he said.
“The Moon mission must happen in President Trump's term or else China will beat us there and build the first moonbase. Artemis and the Moon-to-Mars programme are critical for American leadership in space.”
The remark echoes growing concerns among US legislators about China’s rapidly accelerating space programme, which aims to establish an international lunar research station by the 2030s. Nasa, through its Artemis missions, aims to land astronauts near the Moon’s south pole by 2027.
Mr Isaacman is best known for founding Shift4 Payments and for funding and commanding SpaceX’s Inspiration4 mission in 2021, the first orbital mission with an entirely private crew. He also carried out the first commercial spacewalk aboard a SpaceX Crew Dragon spacecraft last year.
His appointment is also being welcomed by some space policy experts who see his commercial background as a strategic advantage in the new era of space exploration, where private companies are becoming more involved.
“A brilliant and inspirational pick,” Michelle Hanlon, executive director of the Centre for Air and Space Law at the University of Mississippi, told The National. “Jared Isaacman is clearly passionate about space and not because it's cool but because he clearly understands that it offers tremendous opportunity for humanity.”
She said that Mr Isaacman’s background aligns with US space policy, which is increasingly reliant on commercial services.
“It is US government policy to support and rely more upon commercial space companies and services,” Ms Hanlon said. “I think Isaacman is well-suited to assure that Nasa use commercial services efficiently, effectively and diplomatically.”
Ms Hanlon also pointed to Mr Isaacman’s efforts to increase public engagement and access to space, such as bringing a medical worker and educator aboard his Inspiration4 mission, and using the flight to raise $200 million for St Jude Children’s Research Hospital.
“I think Isaacman uniquely offers both commercial expertise and passion,” she said. “He has demonstrated a real desire to increase access to space and bring as many people as possible to space with him. I think that he will be terrific in building public enthusiasm for space.”
But his nomination is also likely to raise questions during the hearing about potential conflicts of interest, given his close financial and operational ties with companies like SpaceX, one of Nasa’s largest contractors.
Wednesday’s hearing is expected to be one of the most closely watched in the agency’s history, as it could define the future trajectory of American space policy, including whether the US will maintain its edge in lunar exploration amid growing competition from China. The hearing will be streamed live by Nasa, set to begin at 6pm, GST.
MATCH INFO
Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
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First Person
Richard Flanagan
Chatto & Windus
Syria squad
Goalkeepers: Ibrahim Alma, Mahmoud Al Youssef, Ahmad Madania.
Defenders: Ahmad Al Salih, Moayad Ajan, Jehad Al Baour, Omar Midani, Amro Jenyat, Hussein Jwayed, Nadim Sabagh, Abdul Malek Anezan.
Midfielders: Mahmoud Al Mawas, Mohammed Osman, Osama Omari, Tamer Haj Mohamad, Ahmad Ashkar, Youssef Kalfa, Zaher Midani, Khaled Al Mobayed, Fahd Youssef.
Forwards: Omar Khribin, Omar Al Somah, Mardik Mardikian.
Brief scores:
Day 1
Toss: South Africa, field first
Pakistan (1st innings) 177: Sarfraz 56, Masood 44; Olivier 4-48
South Africa (1st innings) 123-2: Markram 78; Masood 1-4
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UAE currency: the story behind the money in your pockets
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The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
How does ToTok work?
The calling app is available to download on Google Play and Apple App Store
To successfully install ToTok, users are asked to enter their phone number and then create a nickname.
The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.
Users can also invite other contacts to download ToTok to allow them to make contact through the app.
The years Ramadan fell in May
Dhadak
Director: Shashank Khaitan
Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana
Stars: 3
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Skoda Superb Specs
Engine: 2-litre TSI petrol
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Trump v Khan
2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US
2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks
2019: Trump calls Khan a “stone cold loser” before first state visit
2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”
2022: Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency
July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”
Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.
Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”
The specs
Engine: 3.0-litre 6-cyl turbo
Power: 435hp at 5,900rpm
Torque: 520Nm at 1,800-5,500rpm
Transmission: 9-speed auto
Price: from Dh498,542
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MATCH INFO
Uefa Champions League quarter-final second leg:
Juventus 1 Ajax 2
Ajax advance 3-2 on aggregate
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