Political and Business Career
On January 3, 1995, Sheikh Maktoum bin Rashid Al Maktoum signed two decrees that appointed Sheikh Mohammed as Crown Prince of Dubai.
Sheikh Mohammed oversaw the development of numerous projects in Dubai including the creation of the Palm Islands and the luxury Burj Al Arab hotel. He also promoted the construction of Burj Khalifa, which is now the tallest free-standing structure in the world, world's tallest building; its official opening was on Monday, 4 January 2010. During his tenure as Crown Prince he set up Dubai Holding, the debt laden and financially troubled holding company with multi-diversified businesses and investments. He currently owns 99.67% of the company.
After roughly a decade of de facto rulership, he became the Ruler of Dubai on January 4, 2006 upon the death of his elder brother Sheikh Maktoum bin Rashid Al Maktoum. He was also nominated by the President of the UAE, Sheikh Khalifa bin Zayed Al Nahyan, to be the next Prime Minister and Vice President of the UAE on January 5, 2006. The members of the UAE Federal National Council accepted the President's nomination shortly after.
Read more about this topic: Mohammed Bin Rashid Al Maktoum
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