‘Dubai Prince’ Who Pledged $500 Million Investment in Hong Kong’s Past as Singer Stirs Controversy

On April 10, the private office website of Mr. Maktoum, a ‘Dubai prince’ who promised to invest in HK was inaccessible. His personal LinkedIn account also disap

A general view of Hong Kong taken on Oct. 16, 2022, shows one of the densest urban population centers in the world, with its developed areas reaching skyward to house its nearly 7,000 people. Photo by Anthony Kwan/Getty Images

The “Dubai Prince” Sheikh Ali Al Maktoum, who was scheduled to establish a family office in Hong Kong in March, has been found to have an alter-ego as a singer-songwriter, according to a report by the South China Morning Post (SCMP).

Scrubbed Social Media Sparks Speculation

The “Dubai Prince,” who pledged to establish a family office in Hong Kong with a $500 million investment, received a grand reception from the Hong Kong authorities, which addressed him as “His Highness,” and he met with Hong Kong Chief Executive John Lee Ka-chiu.

However, after attending the “Wealth for Good in Hong Kong” event in late March, Mr. Maktoum immediately postponed his family office press conference until May.

On April 10, Mr. Maktoum’s private office website was found inaccessible. His personal LinkedIn account also disappeared.

The Hang Seng University of Hong Kong (HSUHK), which recently issued a certificate appointing “Prince Ali” as an honorary professor and signed a memorandum of cooperation with his private office, deleted all related content on April 10.

The university also modified its website, changing the news title from “HSUHK Signs Memorandum of Cooperation with the Private Family Office of the UAE Royal Family to Promote Sustainable Development in ASEAN and Asia-Pacific Region” to “Opening of the Asia-Pacific ASEAN Green Policy Center at the University of Hong Kong.” Only a picture with Mr. Maktoum remained on the website, without specifying who the person in the image was.

The incident has attracted widespread speculation, and local media outlets alleged his true identity is merely a distant relative of the ruler of the United Arab Emirates (UAE).

In response to queries from SCMP, the UAE Consulate General in Hong Kong stated that Mr. Maktoum comes from the ruling family and can be addressed as a “sheikh,” and that most sheikhs have their own private offices. The report also cited two sources saying that Prince Ali is a distant relative of the vice president.

When asked to confirm whether he is the nephew of the UAE prime minister, Mr. Maktoum avoided answering the question by saying, “I am a member of the family. I look up to him. I see him as my inspiration. I’m thankful for his leadership.”

SCMP also alleged Mr. Maktoum private office in Dubai is only located in a middle-class residential area. His office in Hong Kong is located in the Shun Tak Centre, which is shared with other investment companies.

Singer Background

In addition, SCMP speculated that Mr. Maktoum closely resembled a Filipino singer, Alira, who was popular in the Philippines several years ago. Radio Free Asia used facial recognition software to compare photos of both, and the result was a 100 percent match.

Alira’s official website has been closed for some time. A report by GMA News in November 2022 revealed that Alira disclosed he was a full-time internal auditor for a government agency and found auditing work dull, preferring singing. He also revealed that he graduated from the American University of Sharjah in the UAE with a major in accounting and finance, consistent with Mr. Maktoum claims on his private office website.

It is noted that Mr. Maktoum suspended all his social media accounts in June 2023 and almost simultaneously launched his private office website.

Stranger Helped Mr. Maktoum Buy SIM Cards

A Facebook post on Dec. 16, 2023, during Mr. Maktoum’s visit to Hong Kong, showed that the poster met the prince by chance and attached a photo of the two together.

“He [Mr. Maktoum] is just like any normal person, afraid of not having Wi-Fi. So I stayed up at night to obtain several SIM cards, helping him and his entourage to access the internet and make calls back to Dubai,” read the post in Cantonese.

Feng Xiqian, a writer and cultural figure who has been following the incident closely, posted that it is “unbelievable” that the “dignified Dubai prince, who claims to have billions in assets, doesn’t even have roaming on his phone, and neither he nor his entourage have SIM cards.”

Senior media personality Ng Chi Sum said on his program on April 10 that if it would be a huge embarrassment to the Hong Kong leader if Mr. Maktoum is discovered to be a fraud.

Hong Kong, as an international financial center, would be “laughed at by Singapore,” he said, adding that he believed the HSUHK took down Mr. Maktoum-related content to preserve its image.

Facing multiple doubts, the Hong Kong authorities still insist on its original approach.

A senior official told SCMP that strict scrutiny of Mr. Maktoum’s family office background could offend other overseas investors and damage Hong Kong’s financial center’s reputation. The official admitted that the government needs to be more sensitive and cautious to avoid any unnecessary controversy.

Eleanor Jane Mak, the vice chairman and CEO of Mr. Maktoum’s family office, stated on April 1 that the office will operate in Hong Kong as planned.

“It is merely the inauguration ceremony that has been ... postponed until the sheikh comes to Hong Kong again at the end of May,” she said, adding that the family office reserves the right to take legal action against any false or factually incorrect information.

Chief Executive’s Dubai Trip Highlight HK’s Status

While the prince’s family office website was restored on April 11, the incident highlights the embarrassment Hong Kong faces as the “ruin of an international financial center.”

Hong Kong, which ranked among the top three international financial centers for years, used to attract investors globally, and a $500 million investment would not have attracted much attention in the past.

However, since the implementation of the National Security Law in July 2020, foreign investors have been concerned about its impact on Hong Kong’s business environment and have begun to withdraw from the city. Since 2022, Singapore has replaced Hong Kong as the world’s third-largest international financial center after New York and London.

Chief Executive John Lee speaks to the media in the Legislative Council building after the passing of the Article 23 National Security Law in Hong Kong on March 19, 2024. Peter Parks/AFP via Getty Images

Mr. Lee personally went to the Middle East in 2023 to attract investment, trying to expand new business opportunities under European and American sanctions. However, contrary to his expectations, Hong Kong was overtaken by the Indian stock market by the end of 2023, falling behind Mumbai in the global stock market capitalization ranking.

“I would rather call Ali a pawn than a fraud,” said Mr. Feng. “From beginning to end, the ones who truly harmed Hong Kong’s reputation and interests were never him.”

Mr. Feng cited an editorial by Lianhe Zaobao, a media outlet in Singapore, on April 10, which mentioned that while Singapore and Hong Kong are striving to attract family offices, their rules of the game are vastly different.

“While Hong Kong lays out the red carpet to attract wealthy families from around the world, Singapore has been tightening regulations on family offices over the past two years,” reads the editorial. “A large number does not necessarily mean good quality. Singapore clearly recognizes that if funds of unknown origin flow into the country illegally, it will damage the image and reputation of our country as a financial center.”

Benson Wong Wai-Kwok, a Hong Kong international relations scholar, described the incident as an “international scandal,”

Mr. Wong believed that the Hong Kong authorities’ failure to check investors’ backgrounds reflected their eagerness to show economic achievement to Beijing and worried that similar incidents might occur in the future.

“If there are fraudsters coming to deceive the Hong Kong government in the future, I feel the Hong Kong government will continue to be deceived. Precisely because the Hong Kong government is incapable, it is easier for people to take advantage of it,” he told Radio Free Asia on April 3.