Shaher Abdulhak

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Shaher Abdulhak
Born c. 1938
Residence Yemen
Occupation Businessman

Shaher Abdulhak (born c. 1938[1]) is a Yemeni businessman. Maybe one of the most talked about businessman in Yemen due to his high profile friendships with high ranking officials: former President Ali Abdullah Saleh and President Abdo Rabbo Mansour Hadi; Shaher Abdulhak is also one of Yemen’s most private billionaires, a man, who often shies away from the limelight. Shaher Abdulhak's fortune has been estimated at around $9 billion, almost three times Yemen’s national budget deficit. Although Abdulhak lost 35% of its fortune on the floor of the London Stock Exchange, back when the Europe was hit by its financial toxic investments crisis, his group, Shaher trading has managed to absorb its international losses and capitalise on its national investments instead.

Career[edit]

In 1963 Abdulhak founded the company "Shaher Trading", an enterprise involved in petroleum, soft drinks, tourism and property.[2][3] Abdulhak is known as the "King of Sugar" in Yemen, where he holds great influence also politically.[4] He is a personal friend of president Ali Abdullah Saleh.[5] In spite of his prominent position in Yemeni society, Abdulhak is media-shy; he never grants interviews and no photo of him has ever been printed in the local press.[4] In December 2009, his picture was shown for the first time in public media when Norwegian newspaper VG printed a private photograph of him.[6]

Murder of Martine Vik Magnussen[edit]

Shaher Abdulhaq is the father of Farouk Abdulhak, the only suspect in the rape and murder of the 23-year-old Norwegian female business student, Martine Vik Magnussen. In December 2010, VG reported that a group of elected representatives in the Norwegian Parliament has written to Shaher Abdulhak's business connections,[7] including Coca Cola, Mercedes Benz-manufacturer Daimler AG, Whirlpool, Philips, Xerox and Clorox, requesting they review their commercial relationships. On 16 December 2010, VG confirmed that Daimler AG had served notice [8] to terminate its distribution contract with United Engineering & Automobile Co. Ltd. On 15 February 2011 a letter to the elected representatives from Abdulhak was published by Norwegian media, allegedly threatening the representatives with legal action.[9][10]

References[edit]