Sheik Who Ran $650B Fund Found Dead

Power fight looms after Abu Dhabi royal dies in glider crash
By Rob Quinn,  Newser Staff
Posted Mar 31, 2010 2:00 AM CDT
Gendarmes guard the private road heading to the sheik's Moroccan palace.   (AP Photo/Abdeljalil Bounhar)
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(Newser) – The body of the Abu Dhabi royal who oversaw the world's biggest sovereign wealth fund has been pulled out of a Moroccan lake four days after his glider vanished. Sheik Ahmed bin Zayed al-Nahyan, head of the Abu Dhabi Investment Authority and younger brother of the emirate's ruler, was ranked 27th in Forbes' most recent list of the world's most powerful people, the Telegraph notes.

The 40-year-old prince had no deputy director at the $650 billion fund, which invests Abu Dhabi's oil revenue. Experts believe his death is likely to spark a power struggle within the emirate's royal family. The sheik wasn't part of the powerful clique controlled by his nephew, the crown prince, who is now expected to attempt to gain control of the fund and consequently control of virtually all of Abu Dhabi's economy.

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