Pressure rises on Dubai port giant DP World over chief’s alleged Epstein ties

The UK development finance agency and Canada’s second-largest pension fund have suspended new investment with global ports operator DP World over alleged ties between its chief executive and the late disgraced financier Jeffrey Epstein, raising pressure on the Dubai-based firm.

Members of the U.S. Congress said DP World Chairman and CEO Sultan Ahmed bin Sulayem’s name appeared in the files, prompting renewed scrutiny of his past interactions with Epstein, a convicted sex offender, Reuters reported.

The documents, some of millions published by the U.S. Department of Justice and showing Epstein’s web of relationships with prominent people in politics, finance, academia and business, suggest a close relationship between the two men for more than a decade after Epstein’s conviction in 2008 on prostitution charges involving an underage girl.

The documents include emails and text messages that appear to show discussions between the two men about business, conversations about sex and plans to visit Epstein’s Caribbean island.

Being named in the files is not evidence of criminal activity.

DP World declined to comment, while Bin Sulayem did not immediately respond to a request for comment sent to his LinkedIn account.

The UK development finance agency, British International Investment, said that it had paused new investments with DP World.

“We are shocked by the allegations emerging in the Epstein files regarding Sultan Ahmed bin Sulayem,” said a spokesperson for BII, which invests alongside DP World in four ports in Africa.

“In light of the allegations, we will not be making any new investments with DP World until the required actions have been taken by the company.”

Canadian pension fund La Caisse said in a statement it was “pausing additional capital deployment alongside the company” until DP World clarified the situation and took “the necessary actions”.

PROMINENT ROLE

Bin Sulayem, one of Dubai’s most influential businessmen, has led DP World through an expansion that has seen the company turn into one of the world’s largest logistics companies.

It says it handles around 10% of global trade, with operations spanning across the globe, including in Canada, Peru, India and Angola.

DP World also sponsors a leading professional golf tour in Europe and has been a logistics partner for McLaren’s Formula 1 racing team since 2023. Its logo can be seen on cricket players in South Africa and football players in Australia.

McLaren declined to comment on whether it was revisiting its relationship with the Emirati company.

Besides his role at DP World, Sulayem is listed as chairman of the Dubai International Chamber and the Dubai Ports, Customs and Free Zone Corporation, among others.

Some of Bin Sulayem’s other ventures include establishing Nakheel, the real estate developer behind Dubai’s famous palm-shaped islands, as well as contributing to the creation of commodities exchange DMCC, according to a bio on DP World’s website.