Sheikh Mohammed bin Rashid al Maktoum has an estimated net worth of $18 billion as of 2008 according to Forbes. He is the Prime Minister and Vice President of the United Arab Emirates (UAE), and the constitutional monarch of Dubai. He acceded into the position when he succeeded his elder brother Maktoum bin Rashid Al Maktoum since January 2006. Born on July 22, 1949 in Dubai, Trucial States, he is the third of Rashid bin Saeed Al Maktoum’s four sons. He was privately tutored in Arabic and Islamic studies since the age of four. He began his formal education in 1955 at Al Ahmedia School. He moved to Al Shaab School at the age of ten. Two years later, he went to Dubai Secondary School. He attended the Bell Educational Trust’s English Language School in the United Kingdom in 1966.

Also known as Sheikh Mohammed, he is a majority shareholder of Dubai Holding, a conglomerate with the stakes in HSBC Holdings and Sony as well as real estate holdings such as New York’s Essex House Hotel. He is a formidable figure in horse racing and he owns a 3,800-acre farm in Kentucky. He also bought Australia’s Ingham stud farm for a reported $460 million. Recently, Dubai’s sovereign wealth fun paid $5 billion for a piece of MGM Mirage and another $825 million to purchase retailer Barneys New York outright.

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