The two brothers | Visitors scramble to get selfies with the beaming future emperor, who is surrounded by numerous regional officials. The king moves around the room with the confidence of an Instagram star accustomed to mingling with famous people, such as player Cristiano Ronaldo.
At a recent event at the Dubai Expo, a guy who may be less well-known in the city’s social scene but whose influence is earning praise from overseas investors and keeping executives at government-run enterprises on their toes stood a few metres behind him, blending into the crowd.
Sheikh Hamdan bin Mohammed Al Maktoum, 39, and brother Sheikh Maktoum, 38, each have a niche as their 73-year-old father, the ruler of Dubai, gives them more authority. In the face of regional rivalry and worldwide scrutiny in the wake of Russia’s war on Ukraine, they must maintain Dubai’s position as the leading economic hub in the Middle East.
Nasser Al-Shaikh, a former finance officer for Dubai who assisted in guiding the emirate through its 2009 debt crisis, advised “thinking of it like a firm.” The CEO is Maktoum, and Hamdan is the chairman. Despite the fact that Hamdan represents Dubai and is the crown prince, the two brothers consult before making any choices.
Sheikh Hamdan, the charming crown prince and heir, is the city’s leading marketer in a place that thrives on glamour and its capacity to draw in millions of people and large sums of money. Sheikh Maktoum, who controls the vast state-run firms in the emirate, is proving to be essential to Dubai’s financial market this year. In an effort to sell shares to investors, he most recently sold a stake to the road toll operator Salik this month. He also periodically calls in corporate executives to discuss their financials.
The brothers, who share a mother and were born a year apart, must also preserve the delicate balance of power in the UAE. Following Abu Dhabi’s leadership’s persuasion to refocus on business and the economy rather than on foreign policy, which resulted in military participation in wars spanning from Yemen to Libya and Turkey, Dubai’s leadership has now done just that. Saudi Arabia, on the other hand, presents another difficulty because of its aim to imitate Dubai as a draw for outside investment and talent.
Hamdan chairs Dubai’s 22-member Executive Council, which includes his brother, and frequently travels with his father to talks with other sheikhdom leaders in the United Arab Emirates. According to the website of the Council, Hamdan “is characterised by his young and lively demeanour,” which has aided him in forging relationships with Dubai residents. He also serves as chairman of the Investment Corporation of Dubai, the emirate’s sovereign wealth fund.
The council, on the other hand, says Maktoum possesses “the characteristics of an ambitious young leader.” After the passing of his uncle in September 2021, he was named finance minister for the United Arab Emirates, catapulting him into the public eye. Investors became aware of him as he led share sales of cherished state-owned businesses. To help Dubai’s stock market, they had long advocated for the listing of state-run businesses.
Sheik Hamdan has been imagined skydiving, hiking, riding ponies, and remaining on the world’s most noteworthy pinnacle, notwithstanding the more authority photographs of him directing authority business that are much of the time posted on his virtual entertainment destinations.
He communicates with individuals at Dubai’s shopping centers and eateries, keeping up with the standing of the friendly chief his dad developed while he prepares for his future work. He has 14.6 million Instagram adherents, which is more than the number of inhabitants in the UAE.