‘Gold’ ($ 734 million) to be paid by Dubai sheikh-monarch

Dubai’s sheikh monarch Mohammed bin Rashid Al Maktoum will be forced to pay at least 4 554m ($ 734m) to his estranged wife and children, based on United Kingdom court decision. This is the largest amount awarded by British family law courts in history, according to Bloomberg.

A judge in London has ordered Sheikh Mohammed bin Rashid Al Maktoum to pay Princess Haya Bint al-Hussein 25 251.5 million over three months as insurance coverage and compensation for lost items such as jewelery and clothing. On an annual basis, the Dubai strongman will have to pay 11 11m to cover his children’s education expenses, which will be secured by a 29 290m bank guarantee, always based on the decision.

The payment of these sums will ensure Princess Haya a “clear” separation from the sheikh after their divorce, said British judge Philip Moor. He also said that the UAE Prime Minister, who did not submit information to the trial, brought himself the high price he will pay, as he had ordered the phones of his estranged husband and her legal team to be trapped.

The final amount is expected to be even higher, as the sheikh will have to pay for the safety of his children once they have completed their education.

The UAE vice-president and prime minister said in a statement after the ruling that he “always ensured that his children would have the necessary resources”.

As part of the settlement, the judge awarded the family 5 5m a year for holiday costs, including private jet flights.

The monarch of Dubai will pay 300 300,000 a year to maintain the family’s horses and (lump sum) .000 39,000 to install two new trampolines.