• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Current price of oil as of June 16, 2026

2

Team USA star Ricardo Pepi grew up in a trailer in El Paso—and his parents pawned their car title to fuel his soccer dream. Now, he’s in the World Cup

3

Current price of oil as of June 15, 2026

1

Current price of oil as of June 16, 2026

2

Team USA star Ricardo Pepi grew up in a trailer in El Paso—and his parents pawned their car title to fuel his soccer dream. Now, he’s in the World Cup

3

Current price of oil as of June 15, 2026
PoliticsSports

Sovereignty’s Kentucky Derby win cemented the UAE prime minister’s dominance of horse racing

By
Greg McKenna
Greg McKenna
News Fellow
Down Arrow Button Icon
By
Greg McKenna
Greg McKenna
News Fellow
Down Arrow Button Icon
May 6, 2025, 7:27 AM ET
Updated May 6, 2025, 2:40 PM ET
Queen Elizabeth II presents Godolphin founder Sheikh Mohammed bin Rashid Al Maktoum with a trophy during day five of Royal Ascot at Ascot Racecourse.
Sheikh Mohammed bin Rashid Al Maktoum (right) bonded with the late Queen Elizabeth (center-left) over their shared love of horse racing. Jonathan Brady—PA Images via Getty Images
Add Fortune on Google for similar content.
  • UAE Prime Minister Sheikh Mohammed bin Rashid Al Maktoum owns the world’s largest Thoroughbred-racing operation, and Godolphin has now finally won the sport’s biggest race. The Dubai ruler has earned plenty of goodwill through his investment in the struggling industry, helping him to sidestep controversies regarding alleged treatment of his daughters and ex-wife, and the past use of child jockeys in camel racing, a source said.   

Sovereignty got the better of Journalism as the two horses raced down the final stretch of Saturday’s Kentucky Derby. It was a success more than four decades in the making for Sheikh Mohammed bin Rashid Al Maktoum, the leader of Dubai and the most influential owner in horse racing.

Recommended Video

Sovereign wealth, particularly from oil-rich Persian Gulf states, has made an indelible mark on global sport. While involvement in soccer and golf has earned most of the headlines—and allegations of “sportswashing”—Sheikh Mohammed’s Godolphin has become the world’s largest Thoroughbred-racing operation. Even for a sport often plagued by scandal, however, the prime minister of the United Arab Emirates has been accused of being involved in serious controversies.

In 2020, the British High Court ruled Sheikh Mohammed had kidnapped two of his daughters, a ruling which came after an ex-wife, Princess Haya Bint Al Hussein, fled to the U.K. out of fear for her safety. Sheikh Mohammed maintained his denial of the allegations and said his position as a head-of-state prevented him from participating in the court’s fact-finding process. 

Roughly two decades ago, meanwhile, Sheikh Mohammed was accused of facilitating the slave trade of young boys who served as jockeys in camel racing, though the case was dismissed in U.S. federal court. The family denied the allegations and said it had worked to clean up the sport. 

Furthermore, Godolphin’s Europe stables had nearly two-dozen horses fail drug tests in 2013, leading to an eight-year ban for one of its former trainers.

And yet, Sheikh Mohammed’s racing operation has helped him curry plenty of goodwill. That included a close relationship with the late Queen Elizabeth, a big fan of the sport.

“Godolphin’s been massive for [Sheikh Mohammed],” said Nicholas McGeehan, an expert in migrant workers’ rights in the United Arab Emirates who has written for The New York Times, The Guardian, and VICE. “I think it’s been very good for his reputation and has allowed him to sort of ride out some of those corruption scandals. I think if he didn’t have Godolphin in the U.K., he’d be the subject of more intense scrutiny.”

Godolphin USA and the UAE Embassy in Washington, D.C. did not immediately respond to Fortune’s requests for comment.

Godolphin at the top

Sheikh Mohammed’s horse racing operation started with the purchase of a single stud farm in the English town of Newmarket, the sport’s historic hub, in 1981. Today, Godolphin is a worldwide behemoth racing on four continents.

The business of horseracing has been in decline for some time, but the impact of Sheikh Mohammed’s investment has been palpable. Back in Newmarket, McGeehan said, the sheikh is basically a local hero.

“He’s a guy who provides jobs,” said McGeehan, a former senior researcher at Human Rights Watch and a co-founder of FairSquare, an organization researching human rights abuses related to labor migration, political repression, and sport.

Godolphin has also more than made its mark in North America, winning the award for the continent’s most outstanding owner each of the past five years. Sovereignty’s victory on Saturday may have been Godolphin’s first Kentucky Derby win in 13 attempts, but the stable’s dominance of the sport is unquestioned.

After Sovereignty brought home the Derby’s $3.1 million grand prize, Godolphin leads all North American owners with $8.4 million in total winnings this season, per Equibase. Calumet Farm, founded in 1924, is closest in the rankings with nearly $1.8 million.

On Saturday, Godolphin became the first owner to win both the Kentucky Oaks, held the day before the Derby, and the main event at Churchill Downs since 1952. For now, however, Sheikh Mohammed’s stable will have to wait at least another year for the ultimate shot at horse racing legitimacy: Winning the Triple Crown.

Sovereignty could have become just the 14th horse in history to follow up his Derby win with victories in The Preakness Stakes and The Belmont Stakes on May 17 and June 7, respectively. Trainer Bill Mott decided against having the horse run the Preakness on such a quick turnaround, however.

Child camel jockey controversies

Regardless, the rise of Godolphin mirrors the incredible growth of Dubai from a tiny desert port to a center for global commerce, featuring the world’s tallest building and second-busiest international airport. Like other Persian Gulf States, however, the UAE has been criticized for the treatment of its roughly 8.7 million migrant workers, which make up well over 80% of the country’s population.

Workers in the UAE are now able to join labor unions, quit their job, or leave the country without their employer’s permission, according to the Council on Foreign Relations. However, those reforms are more cosmetic improvements, McGeehan said, than fundamental changes to the system in practice. 

“It’s still, I would say, in many senses, materially identical to the situation 10, 15, 20 years ago,” he said.

That’s not the case when it comes to the popular sport of camel racing. The ruling families of Dubai and Abu Dhabi helped transform a traditional Bedouin ceremonial practice into a high-stakes, competitive industry to demonstrate their credentials as rulers, McGeehan said, beginning in the 1980s and 90s.

Tragically, lightweight children became the jockeys of choice, and laws banning their use in the UAE didn’t immediately end the practice. In 2005, a report from the U.S. State Department said children as young as two years old were being trafficked from countries such as Bangladesh, Pakistan, and Sudan to work in the industry. They often faced physical and sexual abuse, and many died or were seriously injured after falling off camels and being trampled.

An HBO exposé the year prior helped incite growing public criticism and political pressure. In 2006, Sheikh Mohammed and his brother were sued in U.S. federal court for encouraging the trafficking and enslavement of former child jockeys. They were personally served papers at a horse sale in Kentucky.

A Florida judge dismissed the case for want of jurisdiction, however, and the same thing happened in Kentucky.

The State Department and UNICEF quickly came to the UAE’s defense, emphasizing the country’s efforts to repatriate and compensate victims. In 2010, however, Anti-Slavery International released photographs of child jockeys competing at a festival in Abu Dhabi. Today, robot jockeys have taken the place of kids.

“They constantly look for organizations like that to sort of give the seal of approval to whatever it is they’re doing,” McGeehan, who wrote a 2013 paper about the case in the Journal of Human Rights Practice, said of the UAE and UNICEF. 

Update: This story, including the headline, was updated to reflect the announcement that Sovereignty would not run in The Preakness Stakes.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
By Greg McKennaNews Fellow
LinkedIn icon

Greg McKenna is a news fellow at Fortune.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

aidan
AIG7
Cohere CEO on G7 leaders’ choice: sovereign AI or digital serfdom
By Aidan GomezJune 17, 2026
39 minutes ago
Doctors and nurses huddle in a hospital hallway
Economystudent loans and debt
Trump’s OBBBA will cap federal loans on July 1. Republicans are going over Trump’s head to save student loans for nurses
By Jacqueline MunisJune 17, 2026
3 hours ago
sb
Personal FinanceSocial Security
‘Social Security is on a collision course toward insolvency,’ watchdog says. It hasn’t been this bad since 1983
By Nick LichtenbergJune 17, 2026
4 hours ago
Anthropic CEO Dario Amodei speaking into a microphone.
NewslettersEye on AI
Decision on Anthropic’s Fable and Mythos models means the U.S. has a licensing regime for frontier AI—it just doesn’t want to admit it
By Jeremy KahnJune 16, 2026
15 hours ago
U.S. Treasury Secretary Scott Bessent.
EconomyFederal Reserve
Trump turned the dollar into a foreign policy tool, and now risks undermining the currency’s extraordinary status, think tank says
By Tristan BoveJune 16, 2026
17 hours ago
Chairman of the Federal Reserve Kevin Warsh arrives to his swearing-in ceremony to be the new Chairman of the Federal Reserve in the East Room of the White House on May 22, 2026 in Washington, DC.
EconomyKevin Warsh
Kevin Warsh’s first Fed test is here: He must navigate hawks ‘on the offensive’ and Wall Street’s hunger for details on regime change
By Eleanor PringleJune 16, 2026
19 hours ago

Most Popular

Current price of oil as of June 16, 2026
Personal Finance
Current price of oil as of June 16, 2026
By Joseph HostetlerJune 16, 2026
23 hours ago
Team USA star Ricardo Pepi grew up in a trailer in El Paso—and his parents pawned their car title to fuel his soccer dream. Now, he’s in the World Cup
Success
Team USA star Ricardo Pepi grew up in a trailer in El Paso—and his parents pawned their car title to fuel his soccer dream. Now, he’s in the World Cup
By Preston ForeJune 15, 2026
2 days ago
Current price of oil as of June 15, 2026
Personal Finance
Current price of oil as of June 15, 2026
By Joseph HostetlerJune 15, 2026
2 days ago
Cursor’s 25-year-old CEO is a former Google intern who just cemented a $60 billion deal with SpaceX
AI
Cursor’s 25-year-old CEO is a former Google intern who just cemented a $60 billion deal with SpaceX
By Marco Quiroz-GutierrezJune 16, 2026
22 hours ago
Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI
Big Tech
Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI
By Tristan BoveJune 15, 2026
2 days ago
'Work hard, stay loyal, and the system will reward you': the Boomer credo is a Gen X betrayal and a Millennial pipe dream
Success
'Work hard, stay loyal, and the system will reward you': the Boomer credo is a Gen X betrayal and a Millennial pipe dream
By Nick LichtenbergJune 16, 2026
22 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.