Dubai’s Ruler Ordered To Pay Ex-Wife The Largest Divorce Settlement In British History

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I’ve by no means been completely clear on the distinction between Dubai and the United Arab Emirates, so I lastly seemed it up. I used to be to be taught that the United Arab Emirates is an space roughly the scale of SIX New York Cities situated on the Persian Gulf bordering Saudi Arabia and Oman. Extra apparently, the UAE is definitely type of like an umbrella group of different international locations. The UAE is made up of a federation of seven “emirates” that are principally seven distinct international locations. These international locations are:

  • Abu Dhabi
  • Ajman
  • Dubai
  • Fujairah
  • Ras Al Khaimah
  • Sharjah
  • Umm Al Quwain

I am going to admit that, earlier than right now, I had by no means heard of 5 of the above seven emirates. Every emirate is ruled by its personal Sheikh. These seven Sheikhs kind the Federal Supreme Council of the UAE.

The present Sheikh of Dubai is Sheikh Mohammed Al Maktoum. Sheikh Mohammed can also be Dubai’s Vice President, Minister of Protection and Prime Minister.

Sheikh Mohammed is the third son of Rasheed bin Saeed Al Maktoum. Rasheed dominated Dubai from 1958 till his loss of life in 1990. Roughly eight years into Rasheed’s reign, Dubai found oil. That discovery immediately remodeled Dubai from a sleepy resource-poor sandbox into one of many richest counties on the planet by way of pure useful resource manufacturing, reserves and GDP.

Sheikh Mohammed and Dubai aren’t simply wealthy from oil. Over the a long time the Al Maktoum household has poured billions of {dollars} of their oil royalties into investments throughout the globe, with a particular eye for actual property. Sheikh Mohammed personally owns over $100 million value of actual property in England alone. He’s one in every of England’s largest landowners. He controls his share of the household belongings due to his 99.7% possession stake in Dubai Holding which manages roughly $130 billion value of belongings world wide.

Sheikh Mohammed has spearheaded the next improvement tasks 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 Seashore Lodge
  • The Dubai Airshow

He additionally launched Emirates Airline again in 1984 with an preliminary $10 million funding. One other $75 million was invested over the following few years. Immediately the airline claims that it not receives any authorities subsidies and operates independently as one of many world’s main (and most luxurious) airways.

While you put all of it collectively, we estimate that Sheikh Mohammed Al Maktoum’s net worth is…

$14 billion

(Picture by Chris Jackson/Getty Pictures)

Sadly, Sheikh Mohammed’s private life has been a bit extra controversial in recent times.

As of this writing, Sheikh Mohammed has 30 youngsters between six wives. His most up-to-date spouse is Princess Haya bint Hussein. Haya is royalty herself even earlier than this marriage. She is the daughter of the late King Hussein of Jordan. Haya and 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 in search of a courtroom order to have their youngsters returned to Dubai.

In response to his demand, 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 kind of daughters, Princess Latifa, was allegedly kidnapped off the coast of India in 2017 after commandos intercepted a yacht she was touring on. The different daughter, Princess Shamsa, was allegedly kidnapped from England in 2000.

This week a decide issued a ruling within the divorce. After $100 million value of authorized payments have been paid between the 2 sides, the decide agreed that Princess Haya and their two youngsters had loved “distinctive wealth” and a “outstanding way of life whereas dwelling in Dubai” and due to this fact Princess Haya and her youngsters should be compensated in a method that matches that life-style expectation.

The whole quantity Sheikh Mohammed has been ordered to pay Princess Haya?

$735 million

That is roughly 5% of Sheikh Mohammed’s net worth. It is half of the $1.4 billion Princess Haya had been in search of.

It’s the largest divorce settlement in British historical past. The earlier document for largest settlement belonged to Farkhad Akhmedov who reportedly paid his ex-wife a $600 million settlement in 2016.

The settlement will encompass a one-time lump sum of $330 million PLUS a $384 HSBC financial institution assure for his youngsters. The household may even obtain $15 million per yr as a “upkeep fee,” $4 million to cowl the kids’s training, a $10 million upkeep fee back-payment and the Sheikh will proceed to pay for the household’s safety prices.

Hopefully Princess Haya could make that final!


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