03/31/2010, 00.00
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Three days of mourning for Abu Dhabi sheikh

Ahmed bin Zayed al Nahyan, 41, headed ADIA, one of the biggest sovereign wealth funds, managing some US$ 600 billion, earned mostly from oil exports. The ultralight plane on which he was travelling crashed into a lake on 26 March. The craft’s pilot survived.
Abu Dhabi (AsiaNews/Agencies) –Abu Dhabi has declared three days of mourning to honour Sheik Ahmed bin Zayed al Nahyan, 41, who was found dead after crashing in an ultralight plane in Morocco.

Sheikh Ahmed, a younger brother of Abu Dhabi's ruler, was one of the emirate’s richest men; he headed Abu Dhabi Investment Authority (ADIA), one of the world's biggest sovereign wealth funds.

He had been missing for four days after his aircraft crashed into a lake near the Moroccan capital, Rabat. Rescue teams recovered Ahmed's lifeless body from the lake yesterday.

The craft's Spanish pilot survived the accident and is now in hospital in stable conditions.

Morocco’s King Mohammed VI extended his “sincerest condolences” to the victim’s brother, Sheikh Khalifa bin Zayed Al Nahyan, emir of Abu Dhabi and president of the United Arab Emirates, a federation of seven emirates situated on the Persian Gulf,

Ahmed bin Zayed al Nahyan (pictured) was ranked 27th on Forbes list of the world's most powerful people last year.

He went missing on 26 March after his aircraft crashed in a lake in the Bou Regreg Valley in Morocco.

He was the chairman of the Abu Dhabi Investment Authority (ADIA), one the biggest sovereign wealth fund, with estimated assets of around US$ 600 billion.

The fund was set up in 1976 to invest the Abu Dhabi government’s surpluses, essentially from oil exports. It is expected that Sheikh Ahmed’s successor will come from within the al Nahyan family.

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