UAE President MBZ Transfers $260 Billion Wealth Fund Control to Crown Prince Son Amid Succession Signals

Abu Dhabi, February 4 (TNA) In a seismic generational power shift, UAE President Sheikh Mohammed bin Zayed Al Nahyan (MBZ) has elevated his eldest son, Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan (44), to lead ADQ, a sovereign wealth fund now valued at approximately $263 billion following its integration into broader Abu Dhabi assets.

The move, reported by The Wall Street Journal, signals a strategic consolidation amid internal family dynamics and regional tensions, though claims of a literal "overnight" $260 billion personal transfer appear sensationalised from social media and viral reports.

Khaled, already Crown Prince of Abu Dhabi since 2023, now oversees ADQ's vast portfolio, including stakes in global firms like Deutsche Bank, Eni, and Abu Dhabi ports, positioning him as a key steward of the Al Nahyan family's estimated $335 billion empire primarily from oil wealth. Official announcements frame it as empowering the next generation for economic diversification beyond hydrocarbons, with ADQ focusing on tech, renewables, and logistics.

The decision coincides with reported frictions: UAE-Saudi rivalries in Gulf influence, and whispers of Al Nahyan family power struggles, including potential challenges from MBZ's brother. Viral Hindi reports amplified it as a dramatic "one-night handover" to thwart rebellion, but credible sources like WSJ describe it as a structured elevation rather than a crisis-driven. No official UAE denial or confirmation of personal fortune transfer has emerged.

Analysts view this as grooming Khaled for eventual presidency, bolstering the UAE's post-oil economy amid Vision 2031 goals. Markets watched for ADQ's next moves in sovereign investments.