Sultan Ahmed bin Sulayem
Born
Sultan Ahmed bin Sulayem

1955 (age 68–69)
Dubai, UAE
Alma materTemple University
Years active1985–present
TitleChairman & CEO, DP World
Chairman, Hyperloop One
Board member ofSeven Tides
ChildrenAhmed Sultan Bin Sulayem

Sultan Ahmed bin Sulayem (Arabic: ‏ ‏سلطان أحمد بن سليم, born 1955) is an Emirati businessman. He is the chairman and chief executive officer (CEO) of DP World and the chairman of the Ports, Customs & Free Zone Corporation.[1][2][3]

Family and education

The Sulayem family has been one of Dubai's most prominent business and political families since at least the early 20th century. Ahmed bin Sulayem's father was a key advisor to Dubai's ruling Maktoum family.[4]

He has a bachelor's degree in economics from Temple University in Philadelphia.[5][6]

Business career

Bin Sulayem worked as a customs officer at Dubai's port after graduating from college in the late 1970s. He was appointed by Sheikh Mohammed bin Rashid Al Maktoum to be chairman of the Jebel Ali Free Zone (JAFZA) in 1985.[7][8] He oversaw its rapid expansion, with JAFZA growing from hosting 19 companies in the mid-1980s to roughly 7500 as of 2020.[9][10]

Bin Sulayem was made DP World chairman in 2007 and was appointed group chairman and CEO in February 2016.[11] Following the acquisition of British port operator Peninsular & Oriental Steam Navigation for $6.9 billion, DP World became the world’s third biggest port operator in 2010, and has remained in the top three since.[12][13][14] DP World expanded its business in July 2021 with the purchase of American global logistics provider Syncreon Holdings for $1.2 billion.[15]

Bin Sulayem led DP World's property development subsidiary Nakheel until 2010, becoming a board member in 2020.[16][17] The company was behind the construction of man-made islands in Dubai.[16] He helped establish and headed the DP World subsidiary private equity fund Istithmar World.[18]

He has been non-executive chairman of Virgin Hyperloop since 2018.[19] He is a board member of the Dubai Executive Council and the UAE Federal Tax Authority,[6] as well as the Investment Corporation of Dubai (the emirate's sovereign wealth fund) until 2009.[20]

Recognition

He was awarded an honorary doctorate from Middlesex University in Dubai in 2008.[21]

Personal life

Bin Sulayem owns hotels on Nakheel's Palm islands, and a stake in a real estate brokerage company.[22]

His son, Ahmed Sultan Bin Sulayem, is the chairman of the government-owned Dubai Multi Commodities Centre.[22]

References

  1. ^ "Sultan Ahmed Bin Sulayem". www.bloomberg.com. Retrieved 2022-01-10.
  2. ^ "H.E. Sultan Ahmed Bin Sulayem". www.dpworld.com. Retrieved 2022-01-10.
  3. ^ "PCFC About Us". pcfc.ae. Retrieved 2022-01-10.
  4. ^ Critchlow, Andrew (2009-10-21). "Dubai Inc. Is in Need of Change at the Top". Wall Street Journal. ISSN 0099-9660. Retrieved 2022-01-10.
  5. ^ Dubai World corporate bio on Sulayem Archived 2008-11-08 at the Wayback Machine
  6. ^ a b "Sultan Ahmed bin Sulayem - Agenda Contributor". World Economic Forum. Retrieved 2022-01-10.
  7. ^ "Welcome to Dubai world - Feb. 21, 2008". money.cnn.com. Retrieved 2022-01-10.
  8. ^ "Jebel Ali Free Zone: Everything you need to know about Jafza". gulfnews.com. Retrieved 2022-01-10.
  9. ^ "Company Formation in Jebel Ali Free Zone (JAFZA) | KWSME". www.kwsme.com. Retrieved 2022-01-10.
  10. ^ "Jebel Ali Free Zone: Everything you need to know about Jafza". gulfnews.com. Retrieved 2022-01-10.
  11. ^ "Sultan Ahmed Bin Sulayem". www.dpworld.com. Retrieved 2022-01-10.
  12. ^ Timmons, Heather (2006-01-27). "Dubai Tops Singaporean Offer in Bids for British Port Operator". The New York Times. ISSN 0362-4331. Retrieved 2022-01-10.
  13. ^ "DP World becomes third-largest ports company". The Economic Times. Retrieved 2022-01-10.
  14. ^ "Dubai Port Operator DP World Sees Lasting Supply Disruptions". www.bloomberg.com. Retrieved 2022-01-10.
  15. ^ "Port operator DP World buys US logistics firm in $1.2B deal". AP NEWS. 2021-07-01. Retrieved 2022-01-10.
  16. ^ a b "Bin Sulayem replaced as Nakheel chairman". Arabian Business. 30 March 2010.
  17. ^ "Dubai state fund chief to chair developer Nakheel". Reuters. 2020-01-21. Retrieved 2022-01-10.
  18. ^ "Isthmar World". www.bloomberg.com. Retrieved 2022-01-10.
  19. ^ "Sultan Bin Sulayem appointed chairman of Virgin Hyperloop One, DP World becomes largest investor". Seatrade Maritime. 2018-11-12. Retrieved 2022-01-10.
  20. ^ "Dubai Holding up to scrutiny". The National. 2009-12-20. Retrieved 2022-01-10.
  21. ^ "Middlesex University confers honorary doctorate on Sultan Bin Sulayem". Al Bawaba. Retrieved 2022-01-10.
  22. ^ a b Kerr, Simeon (13 December 2010). "Bin Sulayem exit ends tumultuous era". Financial Times. Retrieved 20 March 2022.
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