Mohammed Bin Zayed Quotes

Sheikh Zayed al Nahyan, who had ruled Abu Dhabi beginning in 1966 and was the founder of the United Arab Emirates in 1971, would warn that the emirate could not always depend on oil. With that in mind, he had established ADIA—the Abu Dhabi Investment Authority—considered today the second largest sovereign wealth fund in the world, with assets publicly estimated at over $800 billion. His son, Mohammed bin Zayed, became crown prince in 2004. He catalyzed the drive to broaden the economy. “In 50 years, when we might have the last barrel of oil,” he said, “when it is shipped abroad, will we be sad? If we are investing today in the right sectors, I can tell you we will celebrate.” One initiative was Mubadala, a second sovereign wealth fund, with about $230 billion under management, which tilts toward building and investing in companies both in Abu Dhabi and internationally.

Saudi Arabia established a robust alliance with the United Arab Emirates (UAE). These two neighbors created a very powerful bloc, producing between them nearly half the Arab world’s GDP and 40 percent of OPEC’s oil. Their crown princes, Mohammed bin Salman and Mohammed bin Zayed, were close personally and professionally. Although their interests were not completely aligned, from 2015 onward the two neighbors fought together against the Iranian-supported Houthis in Yemen. In June 2018, their de-facto alliance was given a formal structure through a new Saudi–Emirati Coordination Council. Led by the two crown princes, the new body issued a “Strategy for Resolve” listing forty-four joint economic and military projects that the two nations planned to carry out over the following five years.