DP World Chief Sultan bin Sulayem Resigns Amid Jeffrey Epstein Email Revelations

Dubai logistics giant removes chairman and CEO following pressure over decade-long correspondence with convicted sex offender

Sultan Ahmed bin Sulayem, the influential executive who transformed DP World into one of the world’s largest port operators, resigned from his dual role as chairman and CEO on Friday following revelations of extensive communications with convicted sex offender Jeffrey Epstein.

The Dubai-based logistics giant announced bin Sulayem’s immediate departure and the appointment of Essa Kazim as chairman and Yuvraj Narayan as group CEO, ending his nearly two-decade tenure at the helm of the company.

The resignation comes just days after U.S. lawmakers revealed bin Sulayem’s identity in recently declassified Department of Justice files related to Epstein, and follows mounting pressure from major institutional investors who had paused partnerships with DP World pending action.

Pressure from Investors and Lawmakers

The controversy intensified earlier this week when Representatives Thomas Massie (R-Ky.) and Ro Khanna (D-Calif.) identified bin Sulayem among individuals whose names had been redacted in Epstein files released under the Epstein Files Transparency Act. The lawmakers had been granted access to unredacted documents as part of a bipartisan effort to increase transparency in the files.

On Monday, Massie drew specific attention to a 2019 email exchange that included a message from Epstein stating, “I loved the torture video.” The Kentucky Republican wrote on social media platform X: “A Sultan seems to have sent this. DOJ should make this public.”

While Deputy Attorney General Todd Blanche accused Massie of “grandstanding,” noting that bin Sulayem’s name appeared unredacted elsewhere in the files, the public identification triggered swift consequences for the DP World executive.

Investor Backlash

Two major institutional investors announced suspensions of new business with DP World this week, citing concerns over the Epstein connection.

Canada’s second-largest pension fund, La Caisse de dépôt et placement du Québec, which has invested more than $5 billion alongside DP World over the past decade, including a $2.5 billion investment in Jebel Ali Port in 2022, said it would pause “additional capital deployment alongside the company” until the situation was addressed.

British International Investment (BII), the UK government’s £9.9 billion ($13.6 billion) development finance institution, halted all new investments with DP World. Both organizations emphasized the need to distinguish between the company and the individual at the center of the controversy.

Following Friday’s leadership change, both investors indicated they would resume partnerships. La Caisse spokesman Jean-Benoît Houde confirmed the pension fund was satisfied with the company’s response: “The company took appropriate measures. It has always been important to distinguish the company, DP World, from the individual, Sultan Ahmed bin Sulayem.”

BII similarly welcomed the decision, stating it looked forward to “continuing our partnership to advance the development of key African trading ports to unlock the continent’s global trading potential.”

The Epstein Connection

The DOJ files reveal a relationship between Epstein and bin Sulayem spanning more than a decade, including years after Epstein’s 2008 conviction for soliciting a minor for prostitution. According to the documents, Epstein referred to bin Sulayem as a “close personal friend” and one of his most trusted friends.

The correspondence between the two men covered a range of topics, including business discussions, dinner and travel plans, and references to visiting Epstein’s private Caribbean island. The emails also included sexually explicit content, discussions about escort services, and lewd comments about women.

Critically, bin Sulayem has not been accused of any criminal wrongdoing, and the files do not implicate him in Epstein’s crimes. However, the nature and duration of the friendship—particularly its continuation after Epstein’s conviction—proved untenable for the publicly-traded bonds issuer and its institutional partners.

A Transformative Tenure

Bin Sulayem’s departure marks the end of an era for DP World. He served as chairman since 2007 and CEO since 2016, presiding over the company’s transformation from a regional UAE port operator into a global supply chain powerhouse.

Under his leadership, DP World expanded to operations in more than 75 countries across six continents, with a network of over 90 terminals. The company now handles approximately 10 percent of global container traffic—roughly 82 million twenty-foot equivalent units (TEUs) annually across its portfolio.

The company’s 2024 revenue exceeded $20 billion, a 9.7 percent increase from the previous year, with adjusted EBITDA of $5.5 billion. First-half 2025 results showed continued momentum, with revenue growing 20.4 percent year-on-year to $11.2 billion.

Beyond traditional port operations, bin Sulayem drove DP World’s evolution into an integrated logistics provider, acquiring companies throughout the supply chain. Notable moves included the 2021 acquisition of Syncreon for $1.2 billion and Imperial Logistics in 2022, building out freight forwarding capabilities across 300 locations covering 90 percent of global trade lanes.

Bin Sulayem was also instrumental in establishing Dubai’s position as a global trading hub. Prior to DP World, he founded Nakheel, the real estate developer behind Dubai’s iconic palm-shaped islands, and contributed to the creation of the Dubai Multi Commodities Centre (DMCC). A regular at the World Economic Forum and other global business gatherings, he was one of the most prominent business figures in the Middle East.

New Leadership

Essa Kazim, the incoming chairman, currently serves as governor of the Dubai International Financial Centre and brings extensive experience in finance and governance.

Yuvraj Narayan, the new CEO, has been with DP World since 2004 and most recently served as group deputy CEO and chief financial officer. He played a key role in the company’s recent strategic acquisitions and financial performance, overseeing the expansion of logistics capabilities and maintaining strong cash generation despite global trade disruptions.

In a statement released through the UAE government’s Dubai Media Office, DP World said the new appointments “support its strategy for sustainable growth and reinforce its role in strengthening global supply chains and supporting Dubai’s position as a leading hub for trade and logistics.” The statement made no mention of bin Sulayem.

Broader Implications

Bin Sulayem’s resignation is one of the most high-profile departures linked to the Epstein files. Goldman Sachs general counsel Kathy Ruemmler announced her planned summer resignation after revelations of her ties to Epstein, while several members of British Prime Minister Keir Starmer’s administration stepped down following controversy over the appointment of Peter Mandelson—another figure connected to Epstein—as ambassador to the United States.

For DP World, the swift leadership transition appears designed to contain reputational damage and maintain relationships with key institutional partners. The company continues to operate major ports and logistics facilities in strategic locations worldwide, including significant operations in Canada, the United Kingdom, India, and across Africa.

The logistics industry will be watching closely to see whether the leadership change affects DP World’s ambitious expansion plans, which include $2.5 billion in capital expenditure planned for 2025 across projects in the UAE, UK, India, Senegal, and Saudi Arabia.

The Path Forward

DP World’s ability to weather this crisis will depend on maintaining the confidence of cargo owners, shipping lines, and institutional investors who rely on its global network. The company’s operational performance remains strong—container volumes grew 5.6 percent on a like-for-like basis in the first half of 2025, reaching 45.4 million TEUs.

The new leadership team inherits a company with significant assets, including the flagship Jebel Ali Port in Dubai, London Gateway, and major developments across emerging markets. However, they also face the challenge of restoring trust and demonstrating that the company’s governance structures can prevent similar controversies.

For Dubai and the broader UAE, bin Sulayem’s fall from grace represents a rare public setback for one of its most successful business leaders. His role in shaping Dubai’s economic transformation over the past two decades made him virtually synonymous with the emirate’s logistics and trade ambitions.

As DP World moves forward under new leadership, the company’s statement emphasized continuity and commitment to its strategic vision. Whether institutional investors and customers fully separate the individual from the institution remains to be seen, but Friday’s swift action appears aimed at turning the page on a damaging chapter while preserving the company’s position in global trade.

The Epstein files continue to reverberate through business and political circles worldwide, with more revelations potentially forthcoming as lawmakers press for additional transparency. For now, one of the logistics industry’s most prominent figures has been removed from the board, a stark reminder that associations with Epstein—even absent criminal allegations—have become professionally untenable in the current climate.

DP World operates in more than 75 countries with over 90 marine and inland terminals. The company employs approximately 103,000 people worldwide and is majority-owned by Dubai World, a government-controlled investment company.