Dubai’s DP World boss resigns amid pressure over Epstein ties
Chairman of DP World Sultan Ahmed bin Sulayem wears his headphones during the UAE-India Business summit at the Mahatma Mandir in Gandhinagar, Gujarat, India January 10, 2024. PHOTO | REUTERS
Dubai. DP World, the Middle East port giant, announced on Friday that its chairman and chief executive, Sultan Ahmed Bin Sulayem, had resigned following mounting pressure over his alleged links to convicted sex offender Jeffrey Epstein.
Bin Sulayem, one of the region’s most high-profile business figures, is among the executives to face scrutiny after the recent release of the Epstein files. On the same day, Dubai’s ruler issued a decree appointing a new chairman for the Dubai Ports, Customs and Free Zone Corporation, a role previously held by Bin Sulayem.
Members of the U.S. Congress noted that Bin Sulayem’s name appears in documents published by the U.S. Department of Justice, raising questions about his interactions with Epstein. The allegations in the files have not been independently verified.
Pressure on DP World had increased after two institutions—the UK’s British International Investment and Canada’s La Caisse pension fund—suspended new investments over Bin Sulayem’s alleged ties. Both welcomed the company’s leadership changes, pledging continued collaboration on port projects globally.
DP World has appointed Essa Kazim as board chairman and Yuvraj Narayan as group CEO. Kazim is currently governor of the Dubai International Financial Centre, while Narayan has held senior roles at DP World since joining in 2004.
The Epstein files suggest a long-standing relationship between Bin Sulayem and Epstein, including business discussions, conversations about sex, and planned visits to Epstein’s Caribbean island. Being named in the documents does not indicate criminal activity. Epstein died in a New York jail in August 2019, with his death ruled a suicide.
Bin Sulayem played a key role in Dubai’s rise as a regional business and tourism hub. He helped establish Nakheel, the real estate developer behind the palm-shaped islands, contributed to the creation of the commodities exchange DMCC, and transformed DP World into one of the world’s largest port and logistics operators, handling about 10 percent of global container traffic across countries including Canada, Peru, India, and Angola.
DP World sponsors a major professional golf tour in Europe and has been a logistics partner for McLaren’s Formula 1 team since 2023.
In East Africa, the company operates the Tanzania Ports, significantly expanding its regional logistics presence. Its involvement at the Port of Dar es Salaam has made a noticeable impact on Tanzania’s maritime sector.
Under agreements with the government and the Tanzania Ports Authority, DP World began managing key port berths in April 2024 and has since invested hundreds of billions of shillings in modern equipment, IT systems, and infrastructure upgrades.
