This means that PSG are one of only two state-owned clubs in the world, along with Manchester City. As a result, PSG are also one of the richest clubs in the world. QSI, a subsidiary of the Qatar Investment Authority (QIA), became the club's majority shareholders in June 2011 and sole shareholders in March 2012. For his part, QSI chairman Nasser Al-Khelaifi has been PSG president since the takeover. Al Thani, however, has the final word on every major decision of the club. He is both the chairman of the QIA and the founder of QSI.