APRIL 13, 2016
Hamad bin Jassim bin Jaber Al Thani already had his fair share of high-profile government positions by the time he became Qatar’s foreign affairs minister at the relatively young age of 33. It helped that his great uncle had founded modern Qatar in 1972, catapulting the extended Al Thani family into power. But as Al Thani worked his way up to being named prime minister in 2007, he wasn’t just concerned with tense Middle East politics.
It seems Al Thani was also focused on turning that power and access to riches from his family connections into great personal wealth. Thanks in part to the massive Panama Papers leak published last week, FORBES has determined that Hamad bin Jassim bin Jaber Al Thani is a billionaire, with an estimated net worth of at least $1.2 billion.
The Panama Papers leaks say that in 2002 Al Thani acquired a shell company incorporated in the British Virgin Islands and three more incorporated in the Bahamas. “Through these companies, Al Thani held shares and mooring spaces in the Spanish port of Palma, Mallorca, and managed his super-yacht, the $300 million Al Mirqab,” the Panama Papers listing on Al Thani reads. The Panama Papers leaks found eight offshore companies associated with Al Thani. FORBES found three other holding companies. To be sure, there are legitimate reasons to set up an offshore company or trust.