Khaldoon Al Mubarak

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Khaldoon Khalifa Al Mubarak
Khaldoon Al Mubarak.jpg
At the Davos conference, January 2008
Born1976 (age 42–43)
Abu Dhabi, United Arab Emirates
NationalityEmirati
Alma materTufts University
OccupationEntrepreneur
AwardsCommendatore OSSI medal BAR.svg Commander of the Star of the Order of the Italian Solidarity

Order of the British Empire (Civil) Ribbon.png Commander of the Order of the British Empire

Order of Diplomatic Service Merit (Class 1) Grand Gwanghwa Medal ribbon.gif Grand Gwanghwa Medal of the Order of Diplomatic Service Merit

Khaldoon Khalifa Al Mubarak[1] (Arabic: خلدون المبارك‎; born 1976)[2][3][4][5] is an Emirati entrepreneur and the chief executive officer and managing director of Mubadala Development Company.

Born in Abu Dhabi and educated in the United States, he entered a career in construction and real estate, becoming CEO of the Mubadala Development Company. He sits on a number of boards, including First Abu Dhabi Bank, Aldar Properties and Ferrari.[6] Al Mubarak is also a member of the Executive Council for the Emirate of Abu Dhabi and chairman of Executive Affair Authority.

Al Mubarak became the chairman of Manchester City Football Club, when the club was bought by the Abu Dhabi United Group back in September 2008. He is considered as "one of the royal family’s most trusted advisers."[5][7]

Early life[edit]

Al Mubarak was born in 1976 Abu Dhabi, United Arab Emirates. He is from a family of diplomats, religious and judicial scholars. Khaldoon's father was the former UAE diplomat and ambassador to France, HE Khalifa Ahmed Abdulaziz Al-Mubarak, who was assassinated in Paris in 1984, by the Abu Nidal terrorist group; Khaldoon was only 6 years old. [8] Khaldoon's grandfather was the late (Al Sheikh) Ahmed Abdulaziz Hamad Al-Mubarak[9] , former Judge and Chairman of the Shari'a Judicial Department in the Emirate of Abu Dhabi, he was appointed by founder of the UAE and ruler of Abu Dhabi, Sheikh Zayed bin Sultan Al Nahyan. His great-grandfather Professor (Al Sheikh) Abdulaziz Hamad Al-Mubarak, a judicial scholar, also played a significant role to the UAE educational system, where he established the country's first school in the Emirate of Dubai[10]; he was an advisor to Sheikh Zayed bin Khalifa Al Nahyan.

Khaldoon has three siblings, two of whom are crucial to the environmental development and the economic, cultural development of the Emirate of Abu Dhabi: Rasha; Her Excellency Razan Khalifa Al Mubarak, Managing Director and Board Member of the Environment Agency Abu Dhabi[11] and the Managing Director for the Mohamed bin Zayed Species Conservation Fund[12](she serves on multiple boards); and His Excellency Mohamed Khalifa Al-Mubarak, Chairman of Abu Dhabi Tourism & Culture Authority and member of the Executive Council of the Emirate of Abu Dhabi [13], and Chairman of Aldar Properties PJSC[14].

Education[edit]

Khaldoon K. Al-Mubarak obtained a degree in Economics and Finance from Tufts University, 1997, in Boston, Massachusetts.[15] He attended on a scholarship. Khaldoon started his education at the American Community School of Abu Dhabi, he graduated in 1993.[16]

Petroleum[edit]

Al Mubarak's first position was as a sales-executive at the Abu Dhabi National Oil Company.[17] After working at the oil company, he was employed by the UAE Offsets Group, where he held a number of positions.[18] He next assumed the duties of the Executive Vice-President-Corporate of Dolphin Energy.

Real estate and construction[edit]

Al Mubarak was appointed CEO and Managing Director of the government-owned investment company Mubadala Development, whose projects include the $5 billion aluminium plant in King Abdullah Economic City in 2002. In 2017 he was appointed managing director and chief executive officer of Mubadala Investment Company, after Mubadala Development merged with International Petroleum Investment Company (IPIC),[19] now managing a $125 billion portfolio.[20]

The company owns stakes in numerous companies, including a 5 percent share in Ferrari,[18] an 8.1% share in AMD,[18] a 7.5 percent share in the Carlyle Group, and a share in General Electric.[21][22]

In May 2005, he was appointed vice-chairman of Oasis International Leasing, an Abu Dhabi-based leasing company.[23] Through Mubadala Investment Company, Al Mubarak is vice-chairman of Piaggio Aero,[24] and vice-chairman of LeasePlan.[25]

During Al Mubarak's tenure Mubadala invested into new markets, among them projects of Brazilian magnate Eike Batista.[26]

Government[edit]

When the Abu Dhabi government was restructured in 2006, Al Mubarak became chairman of Executive Affairs Authority and a member of the Executive Council for the Emirate of Abu Dhabi.[27][28] He is also an Abu Dhabi Education Council member,[29] a director of the Abu Dhabi Council for Economic Development (ABCED),[30][31] and chairman of the Organization & Administration Department.[23] Al Mubarak is co-chair of the United States Chamber of Commerce's US–U.A.E. Business Council, which was established in 2007,[32] chairman of the Abu Dhabi Media Zone Authority,[33] and vice-chairman of the Abu Dhabi Urban Planning Council which was established in 2007.[34][35]

American media have characterized Al Mubarak as "one of the royal family’s most trusted advisers" and having "a close relationship with the Crown Prince Mohammed bin Zayed Al Nahyan."[5][7]

Al Mubarak is also a board member of the Supreme Petroleum Council (SPC) of the Government of Abu Dhabi and the chairman of the Emirates Nuclear Energy Corporation (ENEC).[36]

Motorsport[edit]

Al Mubarak, as chairman of the Abu Dhabi Motor Sport Management Company (ADMM),[37] worked to bring auto racing to the region and negotiated the deal with FIA for the Abu Dhabi Grand Prix Formula One motor race.[38] The deal was officially announced in early 2007 at the Abu Dhabi F1 Festival in the UAE.

Football[edit]

In early September 2008, and after negotiations led by Dubai-born businessman Sulaiman Al-Fahim[39] on behalf of the Abu Dhabi side, the owners of English Premier League football club Manchester City, including chairman Thaksin Shinawatra, agreed to sell the entirety of their shares to Sheikh Mansour bin Zayed Al Nahyan of Abu Dhabi.[40] On Tuesday 23 September 2008, the deal was concluded and the shares were transferred to Abu Dhabi United Group, a United Arab Emirates-based private equity firm owned by Sheikh Mansour,[41] in a deal that was both welcomed[42] and questioned[43] by some observers. In September 2008,[44] the new owner appointed Al Mubarak as Chairman of the Board of Directors of the club, with Ferran Soriano as Chief Executive.[41]

On 14 May 2011, City won the F.A. Cup, their first silverware after a drought of 35 years, by beating Stoke City F.C. 1-0 at the final.[45] On 13 May 2012, with two goals scored in stoppage time[46] in the last game of the season, played at their home stadium, and amidst "scenes of near bedlam,"[47] Manchester City were crowned champions of the Premier League, winning the top-division title again, for the first time since the 1967-68 season. The club's finances[48] reached a loss of £98 million loss in 2011-12 but improved to show an £11 million profit in 2014-15, and then in the 2015-16 season a profit of £20.5 million with "record" revenues of £398.1 million.[49]

Since 2013 Mubarak is also the chairman of City Football Group, a holding company that invests in and manages various international football-related businesses, including Manchester City FC, New York City FC and Melbourne City FC.[19]

Institutional oversight[edit]

Al Mubarak is a member of the Board of Trustees for New York University,[50] and as of 2013 oversees the development of a campus in Abu Dhabi. First students graduated in May 2014.[19]

Through Mubadala Development, Al Mubarak is chairman of the Imperial College London Diabetes Center (ICLDC) which opened in Abu Dhabi in 2006.[51]

He sits on many boards including ALDAR Properties, the Emirates Foundation[52] and the First Abu Dhabi Bank,[53] which was formed by a merger of First Gulf Bank and National Bank of Abu Dhabi. He is the chairman of Emirates Global Aluminum (EGA), an aluminum conglomerate.[19]

Al Mubarak is also chairman of the Advisory Board for the Global Manufacturing and Industrialisation Summit (GMIS), which is a joint initiative by the UAE Ministry of Economy and the United Nations Industrial Development Organization (UNIDO).[54][55]

Personal life[edit]

Al Mubarak is married to Nadia Sehweil.[56] The couple first met when they were both in high school, and they have three children.[57] Nadia, who is of Palestinian descent, runs a yoga, pilates, and dance studio called Bodytree Studio in Abu Dhabi with her mother.[57]

Awards and Honors[edit]

In 2007, Al Mubarak was made Commander of the Star of the Order of the Italian Solidarity[29][58] for supporting the "economic relationship" between Italy and the UAE.

In 2013, he was made a Commander of the Order of the British Empire (CBE) and received the Grand Gwanghwa Medal, the highest class of the South Korean Order of Diplomatic Service Merit.[19]

Al Mubarak is a recipient of the Asian Business Leadership Forum's (ABLF) Award in 2016.[59] He was named as one of the 100 world's most influential Arabs 2017 by Arabian Business.[60]

References[edit]

  1. ^ "NYU to Open Campus in Abu Dhabi". NYU Today. 21 (4). Archived from the original on 22 January 2009. Retrieved 28 December 2008.
  2. ^ "Abu Dhabi Emirate restructuring," WikiLeaks, document date: 15 December 2004
  3. ^ Gimbel, Barney (12 March 2007). "The richest city in the world". CNN Money. CNN. Retrieved 16 February 2009.
  4. ^ Norrish, Mike (23 September 2008). "Manchester City manager Mark Hughes is a 'gem', says the club's new owner". The Daily Telegraph. Telegraph Media Group. Retrieved 16 February 2009.
  5. ^ a b c Thomas Jr., Landon (31 October 2008). "The Suave Public Face of Abu Dhabi's Billions". The New York Times. Retrieved 15 October 2016.
  6. ^ "Khaldoon Khalifa Al Mubarak". Mubadala. Retrieved 12 July 2012.
  7. ^ a b "Who's Who : A guide to the most influential, non-royal officials in the United Arab Emirates", Wall Street Journal, 15 October 2010(subscription required)
  8. ^ https://gulfnews.com/news/uae/government/khalifa-al-mubarak-street-a-tribute-to-ultimate-sacrifice-1.1297106
  9. ^ http://www.alkhaleej.ae/supplements/page/8f446743-37e6-4b00-b600-ad66510dc127
  10. ^ https://www.alittihad.ae/Article/16751/2014/
  11. ^ https://www.ead.ae/Pages/who-we-are/our-organisations-structure/our-governing-board.aspx
  12. ^ https://www.speciesconservation.org/about-us/the-board
  13. ^ https://www.wttc.org/shared/members-current/members/he-mohamed-khalifa-al-mubarak/?isAjax=true
  14. ^ https://www.aldar.com/en/About-ALDAR
  15. ^ https://www.theguardian.com/football/2009/sep/18/manchester-city-abu-dhabi-mubarak
  16. ^ https://www.thenational.ae/uae/education/american-community-school-reflects-on-40-years-passed-1.650465
  17. ^ Cushnan, David (20 July 2009). "Khaldoon Al Mubarak is Abu Dhabi's man of sport". SportsPro. Retrieved 21 October 2009.
  18. ^ a b c Bhoyrul, Anil (18 September 2008). "Mubadala boss poised to take helm at Man City". Arabian Business. ITP Publishing Group. Retrieved 13 October 2010.
  19. ^ a b c d e Authority, Executive Affairs. "Executive Affairs Authority - Chairman of the Executive Affairs Authority". www.eaa.gov.ae. Retrieved 28 April 2018.
  20. ^ https://www.thebusinessyear.com/Content/Publication/e90f4833-2837-4c02-b2ce-bdcf1c125b27.pdf
  21. ^ Heath, Thomas (15 February 2008). "Pair of Proposals Take Aim at Carlyle Group". Washington Post. Katharine Weymouth. Retrieved 22 September 2008.
  22. ^ "GE & Mubadala Partnership". General Electric. Archived from the original on 15 March 2009. Retrieved 16 February 2009.
  23. ^ a b Golden, Lara Lynn (7 May 2005). "Khaldoon Khalifa Al Mubarak appointed Oasis Leasing Vice Chairman". AMEinfo.com. AME Info. Archived from the original on 26 September 2008. Retrieved 22 September 2008.
  24. ^ "Khaldoon Mubarak, CEO, Mubadala Development Company". CNN. 28 September 2007. Retrieved 17 October 2009.
  25. ^ Bailey, Chris (19 September 2008). "Plans take shape at City". Manchester Evening News. Retrieved 17 October 2009.
  26. ^ Magalhaes, Luciana; Cowley, Matthew (26 March 2012). "Abu Dhabi Takes Big First Step Into Brazil". Wall Street Journal. ISSN 0099-9660. Retrieved 1 May 2018.
  27. ^ Defterios, John (20 September 2008). "Two trips, one new program". CNN. Retrieved 17 October 2009.
  28. ^ "Abu Dhabi govt restructuring to spur efficiency". Khaleej Times. 6 March 2006. Retrieved 17 October 2009.
  29. ^ a b "Chairman of the Executive Affairs Authority". Abu Dhabi Government. Archived from the original on 21 September 2008. Retrieved 17 October 2009.
  30. ^ "Board of Directors". Abu Dhabi Council for Economic Development. Retrieved 17 October 2009.
  31. ^ "The Abu Dhabi Economic Vision 2030" (PDF). Government of the General Secretariat Executive Council of Abu Dhabi. Retrieved 17 October 2009.
  32. ^ "About the U.S.-U.A.E. Business Council". Retrieved 17 October 2009.
  33. ^ Hagey, Keach (12 October 2008). "Media brands focus on Abu Dhabi". The National. Retrieved 17 October 2009.
  34. ^ "Council Members". Abu Dhabi Urban Planning Council. Retrieved 13 October 2010.
  35. ^ "UAE President sets up Urban Planning Council". UAE Interact. Trident Press Ltd. 20 September 2007. Retrieved 17 October 2009.
  36. ^ "Khaldoon Khalifa Al Mubarak | Mubadala". www.mubadala.com. Retrieved 14 May 2018.
  37. ^ Khan, Alam (27 August 2008). "Abu Dhabi is right on track for GP". The National. Abu Dhabi Media Company. Retrieved 22 September 2008.
  38. ^ "Working Relationship Announced Between Abu Dhabi Motorsports Management and Bahrain International Circuit | Yas Marina Circuit". Yas Marina Circuit. Retrieved 4 December 2018.
  39. ^ "Family feeling behind the football", The Economist, 25 September 2008
  40. ^ "Manchester City agree takeover deal with Abu Dhabi group" by Mike Adamson, The Guardian, 1 September 2008
  41. ^ a b "Man City buyers complete takeover", BBC News, 23 September 2008
  42. ^ "Manchester City: a tale of love and money" by David Conn, The Guardian, 18 May 2012
  43. ^ "Abu Dhabi accused of 'using Manchester City to launder image'" by David Conn, The Guardian, 30 July 2013
  44. ^ "City Football Group | Board". www.cityfootballgroup.com. Retrieved 21 August 2018.
  45. ^ "Manchester United take down '35 years' banner at Old Trafford after City's FA Cup win", Manchester Evening News, 17 May 2011
  46. ^ "Stoppage time in soccer: How it works and what it means" by Michael Caley, Washington Post, 12 June 2014
  47. ^ Mancherster City 3 - Queens Park Rangers 2. Game report by Phil McNulty, BBC Sports, 13 May 2012
  48. ^ "Manchester City : From zero to hero", Football Benchmark, 2016
  49. ^ "Man City announce record revenue, increased profits", Football 365, 18 October 2016
  50. ^ https://www.nyu.edu/about/leadership-university-administration/board-of-trustees.html
  51. ^ "Imperial College London and UAE Development Agency launch world-class diabetes centre in Abu Dhabi". Imperial College London. 14 August 2006. Archived from the original on 24 September 2006. Retrieved 17 October 2009.
  52. ^ Bailey, Chris (19 September 2008). "Plans take shape at City". Manchester Evening News. Retrieved 13 October 2010.
  53. ^ "H.E Khaldoon Khalifa Al Mubarak". Retrieved 26 October 2018.
  54. ^ "GE partners with the Global Manufacturing and Industrialisation Summit to revolutionize industry through additive manufacturing and digitization". Al Bawaba. 7 March 2017. Retrieved 28 May 2018.
  55. ^ "Global tech giant IBM joins GMIS mission to transform manufacturing and build smarter world". wam. Retrieved 28 May 2018.
  56. ^ "The Dinner Club by No.57 and Avenue at Etihad Towers collaborate for exclusive dinner", Buro 24/7, 25 January 2015
  57. ^ a b "How a cancer diagnosis inspired Abu Dhabi family to set up a fitness studio," The National, 9 December 2014
  58. ^ "Al Mubarak Dott. Khaldoon Khalifa" (in Italian). President of the Italian Republic. Retrieved 17 October 2009.
  59. ^ "H.E. Khaldoon Khalifa Al Mubarak | Alumni | ABLF Network". www.ablfseries.com. Retrieved 22 August 2018.
  60. ^ "Revealed: The 100 world's most influential Arabs 2017 - ArabianBusiness.com". ArabianBusiness.com. Retrieved 22 August 2018.
Business positions
Preceded by
Thaksin Shinawatra
Manchester City F.C. chairman
2008 – present
Incumbent