Final evening, it was revealed that rapper French Montana had turn into engaged to a princess of Dubai named Sheikha Mahra. Sheikha Mahra is one in all an estimated 26 youngsters fathered by Sheikh Mohammed bin Rashid Al Maktoum, the Ruler of Dubai. FYI, in an early draft of this text, I eroneously referred to Sheikh Mohammed because the “King of Dubai.” That title isn’t appropriate. His three official titles are “Ruler of Dubai,” “Prime Minister of the United Arab Emirates,” and “Vice President of the United Arab Emirates.”
If I am being trustworthy, I’ve by no means actually been clear on the distinction between the United Arab Emirates (UAE) and Dubai. Is there a distinction? Is the UAE a rustic or is Dubai a rustic? I believe the UAE is made up of some nations? Presumably a bunch of island nations? Is it a bunch of island nations which have fashioned one massive nation? Dubai is an island, proper? Jeesh, I am such a dumb American.
I lastly simply appeared it up and was impressed to be taught that NO, the UAE isn’t a bunch of islands. The United Arab Emirates is a contiguous land mass roughly six instances the dimensions of New York Metropolis, positioned on the Persian Gulf bordering Saudi Arabia and Oman.
Most apparently of all, I discovered that the UAE is definitely type of like an umbrella group of different nations. You understand how there are 5 “boroughs” in New York Metropolis? Think about if every of these boroughs was a rustic and in the event that they have been all “managed” by the umbrella group generally known as “New York Metropolis.” Now substitute “borough” with “emirate” and as an alternative of 5, there are seven. These seven emirate nations are:
- Abu Dhabi
- Ajman
- Dubai
- Fujairah
- Ras Al Khaimah
- Sharjah
- Umm Al Quwain
I will admit that, earlier than immediately, I had by no means heard of 5 of the above seven emirates. Additionally, in case you’re assuming that every one seven of those UAE nations are drowning in unimaginable wealth, that is not really true. Abu Dhabi additionally hit the jackpot and truly controls over 90% of the UAE’s oil reserves. That is why the ruler of Abu Dhabi (presently Sheikh Mohamed bin Zayed Al Nahyan) can also be President of the UAE. However the different 5 UAE nations? Snake eyes. The northern emirates (Ajman, Umm Al Quwain, Ras Al Khaimah, Fujairah, and Sharjah) both had tiny reserves or none in any respect, with Sharjah the partial exception due to modest fuel fields. Right now, these emirates rely closely on federal subsidies from Abu Dhabi and different industries like delivery, manufacturing, and tourism to maintain themselves.
Technically, the UAE is a federation of semi-autonomous states, and every emirate is ruled by its personal Sheikh. These seven Sheikhs kind the Federal Supreme Council of the UAE. The council is the very best constitutional authority within the nation, chargeable for setting nationwide coverage, passing legal guidelines, and overseeing shared establishments such because the armed forces, international affairs, and federal taxes. Whereas every emirate retains management over its native sources and lots of home issues, protection, safety, and worldwide relations are dealt with on the federal degree. The council elects one in all its members to function President of the UAE for a five-year time period, a task that has historically been held by the ruler of Abu Dhabi. The Vice President, often the ruler of Dubai, can also be chosen from among the many Sheikhs.
The present Sheikh of Dubai is Sheikh Mohammed bin Rashid Al Maktoum. He additionally serves because the Vice President, Prime Minister, and Minister of Protection of the United Arab Emirates.
Sheikh Mohammed is the third son of Sheikh Rashid bin Saeed Al Maktoum, who dominated Dubai from 1958 till his dying in 1990. Roughly eight years into Rashid’s reign, the invention of oil remodeled Dubai virtually in a single day from a modest desert port into one of many wealthiest territories on the planet, measured by pure useful resource reserves and GDP.
However Sheikh Mohammed’s wealth and Dubai’s prosperity haven’t relied on oil alone. Over the a long time, the Al Maktoum household has strategically reinvested billions of {dollars} of oil income into international companies, with a specific deal with actual property. Right now, Sheikh Mohammed is among the many largest personal landowners in the UK. He additionally wields monumental monetary affect by means of his near-total possession of Dubai Holding, the state-backed conglomerate that manages tens of billions of {dollars} in belongings worldwide. Unbiased estimates place Dubai Holding’s portfolio between $30 billion and $70 billion, spanning actual property, hospitality, media, and worldwide investments.
Sheikh Mohammed has spearheaded the next growth initiatives inside Dubai:
- The Burj Khalifa – AKA the tallest constructing on the planet
- The Burj Al Arab
- Palm Island
- Dubai Web Metropolis
- Dubai World
- The Jumeirah Seaside Lodge
- The Dubai Airshow
He additionally launched Emirates Airways again in 1984 with an preliminary $10 million funding. One other $75 million was invested over the subsequent few years. Right now, the airline claims that it now not receives any authorities subsidies and operates independently as one of many world’s main (and most luxurious) airways.
Whenever you put all of it collectively, we estimate that Sheikh Mohammed Al Maktoum’s net worth is $16 billion. That makes him the richest person in Dubai and one of many prime three richest Sheikhs within the United Arab Emirates. The one individuals richer are the 2 leaders of Abu Dhabi. And to make issues slightly extra sophisticated, one in all Sheikh Mohammed’s daughters is definitely married to one of many two most important rulers of Abu Dhabi, Sheikh Mansour bin Zayed Al Nahyan.
(Photograph by Chris Jackson/Getty Photographs)
Princess Haya
Sadly, Sheikh Mohammed’s private life has been a bit extra controversial lately.
As of this writing, Sheikh Mohammed has at the least 20 and presumably as many as 30 youngsters from roughly a dozen wives. His most up-to-date spouse is Princess Haya bint Hussein. Haya was royalty herself, even earlier than her marriage to Sheikh Mohammed. She is the daughter of the late King Hussein of Jordan, making the present King Abdulla II of Jordan, her half-brother, and Queen Rania, her half-sister-in-law.
Princess Haya and Sheikh Mohammed married on April 10, 2004. They divorced in February 2019.
One month after the divorce, Princess Haya took the couple’s two youngsters and fled to the UK. She claims that she determined to flee after being advised that there was a loaded gun in her bed room and {that a} royal helicopter had been dispatched to move her to jail. The implication being that she was being inspired to kill herself.
In Could 2019, Sheikh Mohammed sued Haya looking for a court docket order to have their youngsters returned to Dubai. In response, Haya introduced forth proof which alleged to point out that Sheikh Mohammed had two daughters from a earlier marriage kidnapped and returned to Dubai in opposition to their will after they tried to flee. A type of daughters, Princess Latifa, was allegedly kidnapped off the coast of India in 2017 after commandos intercepted a yacht she was touring on. The opposite daughter, Princess Shamsa, was allegedly kidnapped from England in 2000.
The court docket battle that adopted produced some of the costly divorce instances in British historical past. Court docket filings revealed the extraordinary life-style the couple and their youngsters loved earlier than the cut up. Listed below are a few of the highlights:
- Spent £2 million on strawberries in a single summer time
- Youngsters every acquired £10 million per yr in allowances
- Traveled aboard a custom-fitted Boeing 747
- Supported by a workers of almost 80 family workers
- Entry to a $400 million superyacht
- Lived in palaces value a whole lot of hundreds of thousands of {dollars}
Towards that backdrop, the decide famous that the case concerned a “actually opulent and unprecedented lifestyle” that took it “fully out of the peculiar.” After almost $100 million in authorized charges, a decide ordered Sheikh Mohammed to pay Princess Haya a settlement of…
$735 million
That is roughly 5% of Sheikh Mohammed’s internet value. It’s the largest divorce settlement in British historical past, however it was really solely half of the $1.4 billion Princess Haya had been looking for. The earlier file for the most important UK divorce settlement belonged to Farkhad Akhmedov, who reportedly paid his ex-wife $600 million in 2016.
The award included a one-time lump sum of $330 million, a $384 million HSBC financial institution assure for the kids, annual upkeep funds of $15 million, $4 million for schooling, $10 million in again funds, and full safety protection for the household.
