Mubarak

Biography and Career

Khaldoon Al Mubarak is a prominent Emirati businessman and investor. He has had a diverse career, starting with roles at the state-owned Abu Dhabi National Oil Company and the UAE Offsets Group. He also served as the executive vice-president-corporate of Dolphin Energy.

Current Roles

• Al Mubarak is the CEO and managing director of Mubadala Investment Company, a position he has held since 2017 after the merger of Mubadala Development with the International Petroleum Investment Company (IPIC).
• He chairs several significant entities, including Manchester City and Melbourne City football clubs, Emirates Global Aluminum (EGA), and the Emirates Nuclear Energy Corporation (ENEC).

Investment and Economic Diversification

Under Al Mubarak's leadership, Mubadala Investment Company has managed a substantial portfolio, valued at $230 billion as of March 2020. The company has investments in various sectors, including stakes in Ferrari, AMD, and the Carlyle Group. He has been instrumental in the UAE's economic diversification plan, focusing on sectors such as aerospace, manufacturing, and utilities.

Energy and Natural Resources

Al Mubarak plays a crucial role in the energy sector through his positions:

• He is a board member of the Supreme Petroleum Council (SPC) of the Government of Abu Dhabi, which oversees the oil and gas industry in the emirate.
• Through Mubadala, he is involved in mining projects, notably in Colombia with Minesa, which is extracting gold from the Páramo de Santurbán. However, this project has faced significant environmental and political opposition.

Environmental and Sustainability Efforts

Despite the controversies surrounding some of his projects, Al Mubarak's role in Mubadala also involves efforts to transition towards more sustainable energy sources. The UAE, under his influence, has been exploring renewable energy options and policy innovations to support a sustainable energy transition.

International Influence

Al Mubarak has significant international influence, particularly highlighted by his appointment as the first Presidential Special Envoy to China by UAE President Sheikh Khalifa bin Zayed in 2018. He also co-chairs the Abu Dhabi-Singapore Joint Forum.

Controversies

There have been controversies surrounding his management, particularly regarding the financing of Manchester City Football Club and allegations of circumventing Financial Fair Play (FFP) rules through complex financial arrangements involving Emirati companies.

In summary, Khaldoon Al Mubarak is a key figure in the UAE's economic and energy sectors, with a broad range of responsibilities and investments that span from traditional oil and gas to more diversified and sustainable energy initiatives.