"My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a camel"
While I understand the point he's trying to make, I'm not sure I understand how it can be true unless the underlying point is the classical one about how your children will inevitably squander your wealth.
Even if your wealth comes from a business that is only temporarily viable, your wealth will persist even if the underlying business does not, if it's conservatively invested. Additionally, rich people have no problem moving around in the world, so there's no need for the "petro-millionares" to remain in a country that is collapsing economically.
This quote is obviously meant to convey some sort of wisdom from the Emir, but it doesn't ring true. That anyone beyond the grand son of a hyper-rich individual will be back to square one out of sheer inevitability is a laughable idea.
It seems to me to be expressing a point about the nation in general. Sure, he and his family are probably fine for generations. It makes a lot more sense when applied as a trend for the average citizen of the nation.
That's my point though, it makes the quote even more disingenuous when you consider the fact that despite using himself as a metaphor for the country, the issue he's describing will not, in fact, affect himself.
Seems like Dubai has 4 billion barrels of reserves [0]. Not as much as they once did and much less than Abu Dhabi. But still quite a few years worth of oil left.
Well he died in 1990, so probably not much he can do. And it's safe to say it's not reality since he has many grandchildren in their 30s. Quotes like this seem to be more of a warning then predictive, and Dubai seems to be trying to diversify.
Meanwhile Eisenhower's warning on the military industrial complex has been ignored and seems to be coming true.
To be coming true? The production of military systems, like fighters and ships, has been spread across the states and counties for decades, to the point that Congress will stuff an unwanted system down the Pentagon's throat to ensure re-election in defense intense districts. And be up front about the reason why!
Rashid bin Saeed Al Maktoum, Emir of Dubai