Sheikh Mohammed bin Rashid Al Maktoum Net Worth
Sheikh Mohammed bin Rashid Al Maktoum has an estimated net worth of $14 billion. Sheikh Mohammed bin Rashid Al Maktoum became prime minister and vice president of the United Arab Emirates in 2006 and is responsible for Dubai’s transformation into a lavish business destination. Most of his income comes from his two companies, Dubai World and Dubai Holding.
Sheikh Mohammed bin Rashid Al Maktoum, born on July 15, 1949, became Prime Minister and Vice President of the United Arab Emirates in 2006. He studied at the Bell School of Languages before becoming Crown Prince of Dubai in 1995. He assisted in the development of the Palm Islands, the Burj Al-Arab hotel, the Burj Khalifa skyscraper, the Dubai World Cup, and the Godolphin Stables as part of his mission to help transform Dubai into a lush and desirable business location. He has sixteen children.
To calculate the net worth of Sheikh Mohammed bin Rashid Al Maktoum, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as personal loans and mortgages, are included in total liabilities.
Here’s the breakdown of his net worth:
|Name:||Sheikh Mohammed bin Rashid Al Maktoum|
|Net Worth:||$14 Billion|
|Monthly Salary:||$20 Million|
|Annual Income:||$300 Million|
|Source of Wealth:||Politician|
Childhood & Early Life
On July 15, 1949, he was born in Al Shindagha, Dubai, Trucial States (now the UAE) to Sheikh Rashid bin Saeed Al Maktoum and Latifa bint Hamdan Al Nahyan. He is the third son of the ruling Maktoum family of Dubai, descended from the ‘House of Al-Falasi.’ His mother was the ruler of Abu Dhabi’s daughter.
He had private Arabic and Islamic Studies tutoring since he was four years old. In 1955, he began his formal education at the ‘Al Ahmedia School,’ and later transferred to the ‘Al Shaab School.’ Two years later, he enrolled in the ‘Dubai Secondary School.’ As a child, he was fascinated by horses and frequently stopped by the stables on his way to school.
In 1966, he enrolled in the ‘Bell Educational Trust’s English Language School’ in the United Kingdom, followed by the ‘Mons Officer Cadet School’ in Aldershot (subsequently, part of Sandhurst). He received the sword of honor as the best Commonwealth student. He went to Italy to train as a pilot after finishing his cadet training.
When he returned to Dubai after completing his military training, his father appointed him as the commander of the ‘Dubai Police Force’ and the ‘Dubai Defence Force.’ The British forces quickly withdrew from the Trucial States. In December 1971, he was appointed as the newly formed UAE’s first defense minister.
Several skirmishes occurred during this time period between rival tribes in a struggle for power. In January 1972, he was instrumental in putting down a coup against the ruler of the Emirate of Sharjah. When the hijacked flight ‘JAL 404,’ hijacked by the ‘Japanese Red Army,’ landed in Dubai in 1973, he was involved in negotiations. He was also a negotiator with the hijackers of ‘KLM 861.’
He was also in charge of the “Dubai Civil Aviation Authority.” In October 1985, he played a key role in the launch of the Dubai-based airline ‘Emirates.’ ‘Emirates’ went on to become one of the world’s largest airlines. His interest in flying led him to launch the first ‘Dubai Airshow’ in 1985. Every year, the show witnesses some of the region’s largest aircraft transactions.
In January 1995, his elder brother, Maktoum bin Rashid Al Maktoum, appointed him as the “Crown Prince of Dubai” by signing two decrees. Following the death of his brother, Mohammed took over as ruler of Dubai in January 2006.
Following that, he was appointed as the UAE’s vice president by the ‘Federal National Council,’ and in February 2006, he was nominated as the UAE’s prime minister by President Khalifa Bin Zayed Al Nahyan.
As Prime Minister of his country, he implemented strategic governance reforms to improve coordination and planning in the social, economic, legislative, and judicial fields at the federal and local levels. In February 2010, he released ‘Vision 2021.’ It was thought to be a masterpiece in terms of long-term strategy and national agenda.
He announced the concept of ‘Dubai Internet City,’ which quickly became a technology hub and free-trade zone that drew investments from around the world. This resulted in the establishment of ‘Dubai Media City,’ a tax-free zone for media organizations. He also helped to establish other hubs, including ‘Dubai Healthcare City’ and ‘Dubai Knowledge Village.’
He had zero tolerance for corruption and worked ruthlessly to rid the system of it by targeting high-profile offenders like the head of ‘Dubai Customs’ and government-owned real-estate agencies.
He established the ‘Mohammed bin Rashid Global Initiatives’ (MBRGI) to promote humanitarian aid and to effect change and improve the lives of the oppressed all over the world. He has launched several programs that benefit more than 130 million people in 116 countries.
He is a staunch supporter of the Palestinian cause in its fight against Israeli occupation. He has frequently emphasized the importance of pursuing a two-state solution to bring about regional peace, as well as the need to address the Palestinian issue before normalizing relations with Israel. He has also made significant contributions to the rehabilitation of Palestinians and Afghans in war-torn areas.
He is the author of “My Vision: Challenges in the Race for Excellence” (2004), “Poems from the Desert” (2009), “Spirit of the Union: Lecture on the Occasion of the 40th National Day of the United Arab Emirates” (2012), and “Flashes of Spirit: Lessons in Life and Leadership from the Man Behind Dubai” (2015).
His major political accomplishments include the establishment of the ‘Mohammed Bin Rashid School of Government’ and his anti-corruption drive.
He was instrumental in the establishment of ‘Emirates Airlines’ and ‘Dubai Ports World.’
The ‘Burj Khalifa’ and the ‘Burj Al Arab’ are two iconic structures built during his reign.
Personal Life & Legacy
As a young man, Sheikh Mohammed began writing poetry in Arabic under pseudonyms to conceal his identity. To promote local culture, he later established the ‘Sheikh Mohammed bin Rashid Centre for Cultural Understanding’ (SMCCU). He also announced the establishment of the ‘Mohammed bin Rashid Al Maktoum Patrons of the Arts Awards’ and the ‘Mohammed bin Rashid Al Maktoum Knowledge Award.’
He has at least six wives and nine sons and 14 daughters. In 1979, he married his first cousin, Hind bint Maktoum bin Juma Al Maktoum. She is the mother of his presumed heir, Hamdan bin Mohammed Al Maktoum, and is known as the “First Lady of Dubai.”
Haya bint Al Hussein, the daughter of Jordan’s King Hussein, is one of his other wives. She was the president of the ‘International Federation for Equestrian Sports’ (FEI) for two terms and represented Jordan in show jumping at the 2000 ‘Summer Olympics.’
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