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ADIA boss Sheikh Ahmed missing in plane crash
Sheikh Ahmed bin Zayed al-Nahayan, managing director $700 billion sovereign wealth fund, was on plane that crashed into a lake in Morocco.
March 26, 2010 11:08 by Ben Flanagan
Sheikh Ahmed bin Zayed al-Nahayan, managing director of Abu Dhabi Investment Authority (ADIA), is missing after a glider plane crash in Morocco, according to the state news agency WAM.
Sheikh Ahmed is a younger brother of Sheikh Khalifa bin Zayed Al Nahyan, the ruler of Abu Dhabi and UAE president.
ADIA, which is believed to have assets of up to $700 billion, is considered to be among the world’s biggest sovereign wealth funds.
“Sheikh Ahmed bin Zayed al-Nahayan…was in a crash of a glider which was airborne in Morocco. The pilot was rescued and is in good condition. The search for His Highness is still continuing,” WAM said in a statement, adding that the plane had crashed into a lake.
Sheikh Ahmad is also chairman of the board of trustees of the Zayed Foundation for Charity and Humanitarian Works.
Kippreport’s enquiries to ADIA’s spokesman went unanswered late on Saturday.