What was Khalifa bin Zayed Al Nahyan's Net Worth?
Khalifa bin Zayed bin Sultan Al Nahyan was the president of the United Arab Emirates, the supreme commander of the United Arab Emirates Armed Forces, and the Emir of Abu Dhabi. At the time of his death, Sheikh Khalifa Bin Zayed Al Nahyan had a net worth of $18 billion.
Sheikh Khalifa Bin Zayed Al Nahyan died on May 13, 2022, at the age of 73.
Sheikh Khalifa Bin Zayed Al Nahyan became the President of the UAE the day after his father's death, November 3, 2004. As the former Crown Prince, he had effectively been acting as president earlier (since the late '90s) as his father was in ill health. Khalifa is also chairman of the Abu Dhabi Investment Authority (ADIA).
Sheikh Khalifa is known for his interest in traditional sports in the UAE, chiefly horse and camel racing. He is generally regarded as a pro-Western modernizer. In 2011, Sheikh Khalifa sent in the UAE's Air Force and Navy to support the anti-Gaddafi forces against Muammar Gaddafi alongside NATO, Qatar, Sweden, and Jordan. In January 2014, Sheikh Khalifa suffered a stroke and was reported to have undergone an operation but was said to be in stable condition. Further, on the philanthropic side of things, Sheikh Khalifa founded the Khalifa Award for Education, the UAE Pakistan Assistance Program and the Khalifa bin Zayed Al Nahyan Specialty Institute for Cancer Diagnosis and the Ahmed bin Zayed Al Nahyan Pancreatic Cancer Center, funded by the center's largest grant in the history of its existence.
Early Life
Khalifa was born on September 7, 1948, in Abu Dhabi born to parents Hassa bint Mohammed bin Khalifa Al Nahyan and Zayed bin Sultan Al Nahyan, the first president of the United Arab Emirates. Khalifa is the eldest son of Zayed. He attended the Royal Military Academy Sandhurst.
Political and Leadership Career
Khalifa first became involved in politics and government when his father became the Emir of Abu Dhabi in 1966, at which point he was appointed the mayor of the Eastern Region of Abu Dhabi at the age of 18. In 1969, Khalifa was appointed the Crown Prince of Abu Dhabi and the Head of the Abu Dhabi Department of Defense. Under his leadership, the Abu Dhabi Defense Force became the core of the UAE Armed Forces in 1971.
When the UAE was established in 1971, Khalifa took on more leadership roles in Abu Dhabi. He became the Prime Minister, head of the Cabinet, Minister of Defense, and Minister of Finance. Following a reorganization of the Cabinet, Khalifa became the 2nd Deputy Prime Minister of the United Arab Emirates and Chairman of the Executive Council of Abu Dhabi under his father.
By May of 1976, he became deputy commander of the UAE Armed Forces, only lower in rank than his father. He also became head of the Supreme Petroleum Council in the 1980s, a position which he continues to hold given the amount of power he wields in issues related to oil, natural gas, and energy.
When his father became ill in the 1990s, Khalifa began assuming the role of the president, though he did not officially become Emir of Abu Dhabi and President of the United Arab Emirates until November 3, 2004, following the death of his father the day before.
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Records show that Khalifa had been planning the construction of his palace since 1995 when he had begun buying up acres of land on the Seychelles' main island of Mahé. Since then, the UAE has provided large aid packages to the Seychelles' government to bolster their social services programs and military, which is needed to stop piracy off the coasts of the Seychelles. Construction of the palace was set to begin in 2005 after Khalifa had purchased another parcel of land, but there were some problems with the building plans. Authorities in the Seychelles had originally rejected the plans, but the cabinet of President James Michel overturned that decision. A month after workers broke ground, the country's national utility country reported that the proposed palace may pose a threat to the nation's water supply. Further problems came in 2010 when the under-construction palace's sewage system overflowed and sent rivers of waste through the region, affecting the homes of 8000 residents. An investigation found that Ascon, the building company, had ignored a number of health and building codes. Officials from Khalifa's government arrived quickly to help resolve the matter. They offered $15 million to replace the water piping system in the region as well as payments to the affected households.
Meanwhile, Khalifa sought reelection in 2009 and easily won, retaining the office of the presidency for a second five-year term. A couple of years later, in 2011, Khalifa sent the United Arab Emirates Air Force to support NATO forces in the military intervention in Libya against Muammar Gaddafi. The same year, the UAE initiated a program to promote allegiance to Khalifa, as well as other Emirati leaders. The program is designed to encourage nationals and residents to register their appreciation and loyalty to the leaders of the Emirates. In August 2015, Khalifa approved large amounts of food and aid supplies to be given to the people of Yemen through the Khalifa bin Zayed Al Nahyan Foundation. Almost 8,000 tons of supplies and medicine were sent.
Khalifa won reelection in 2014 and 2019. In February of 2022, Khalifa authorized a partnership agreement between the UAE and Israel on matters related to healthcare and tourism.
Personal Life
Khalifa only is wed to one woman – Shamsa bint Suhail Al Mazrouei. Together, they have had eight children – Sultan, Mohammed, Shamma, Salama, Osha, Sheikha, Lateefa, and Mouza.
It has been reported that Khalifa owns over $1.7 billion in luxury properties in London. While he doesn't directly own them, it was reported in the Panama Papers leak that the properties are owned via shell companies in the British Virgin Islands that were managed by the Panamanian law firm Mossack Fonseca.
In January 2014, it was reported that Khalifa suffered a stroke. However, his condition was stabilized, and he recovered after undergoing an operation.
Khalifa is considered to be one of the wealthiest individuals in the world. In 2013, he commissioned the construction of a superyacht called Azzam, which would become the longest motor yacht ever built at 590 feet. The cost of construction was between $400 and $600 million. He has also received a number of honors from foreign states. He was named an Honorary Knight Grand Cross of the Most Honourable Order of the Bath by the United Kingdom and was named a Knight Grand Cross of the Order of the Netherlands Lion by the Netherlands.
