Dubai Ruler Is Back in U.S. and Dropping Millions on Horseflesh
- Sheikh Mohammed had been pushed out of market by global crisis
- He marked his return by bidding early and often at top auction
The ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, reappeared this week at the world’s biggest thoroughbred auction in Lexington, Kentucky, after a decade-long hiatus.
And he wasted little time in throwing around the kind of cash that made him the king of the racehorse market for years. OK, so maybe he hasn’t quite been splurging like he used to before the global financial crisis rocked Dubai’s economy and forced him to curtail his free-spending ways, but still, the bill ran up fast.