Check Out The Top 10 Billionaires in Dubai

This poll is calculated according to 2018 results on Forbes list.

10. Saif Al Ghurair: $1.9Billion

  • Saif Al Ghurair is the founder of family holding company Al Ghurair Group, which has interests in banking, steel and packaging.
  • He owns significant shares in Mashreq bank, a leading U.A.E. bank, and in Dubai-based National Cement Company.
  • Nippon Steel & Sumitomo Metal, one of the world’s biggest steel producers, has a minority stake in Al Ghurair Steel.
  1. Sunny Varkey: $2.4Billion
  • With more than 250 schools worldwide, the private education firm counts the Blackstone Group among its key investors.
  • Son of Indian expat teachers who migrated to Dubai in 1959, Sunny Varkey controls GEMS Education, the world’s largest operator of K-12 schools.
  • Varkey shelved plans to list GEMS in London at an estimated valuation of $5 billion after the UAE government put a freeze on tuition fees.
  1. Abdulla Futtaim: $3.3Billion
  • Abdulla Al Futtaim owns conglomerate Al Futtaim Group, run by his son Omar, who is vice chairman.
  • In 1955, the group became the exclusive distributor in the U.A.E. of Toyota, which now has the leading share of the auto market with around 30%.
  • Al Futtaim also has the license to operate Hertz, Ikea, Toys “R” Us and Zara in the U.A.E
  • The retailers anchor its malls, which include Dubai Festival City and Cairo Festival City.
  1. Ravi Pillai: $3.9Billion
  • Indian-born farmer’s son, Ravi Pillai migrated to Saudi Arabia after his small construction business in his native Kerala state went bust.
  • With help from a well-connected local partner, he started over in 1978 and built his RP Group into a $6.8 billion (revenue) construction heavyweight.
  • The construction magnate has used his Gulf riches to invest back home, picking up stakes in banks, hotels, real estate.
  1. B.R. Shetty: $4Billion
  • Former pharmacy salesman B.R.Shetty immigrated from Karnataka in south India to Abu Dhabi in1973 to set up a healthcare empire.
  • His biggest asset is London-listed NMC Health, one of the UAE’s largest hospital chains.
  • Shetty has brought his money remittance firms UAE Exchange and Travelex Group under a new holding firm called Finablr.
  • Shetty also owns healthcare firm BR Life, which has a presence in India, Nepal, Africa and the
    Gulf region.
  1. Hussain Sajwani: $4.1Billion
  • Hussain Sajwani is the chairman of Dubai-based luxury real estate developer Damac Properties, which he founded in 2002.
  • He started out in the food services business, catering to the U.S. military and construction giant Bechtel.
  • In 2001, after Dubai allowed foreigners to own property, he shifted to real estate and sold units in residential building in less than six months.
  • Damac teamed up with Donald Trump in 2013 to develop two Trump-branded golf courses in Dubai developments.
  1. Micky Jagtiani: ​ $4.4Billion
  • Middle East retail magnate Micky Jagtiani drove a taxi in London before moving to Bahrain and starting a baby products shop in 1973.
  • He built it into the Dubai-headquarters Landmark Group, which his wife Renuka runs today as chairman and CEO.
  • With estimated annual revenue of $6 billion, Landmark has 2,300 stores spread across 22 countries in the Middle East, Africa and India.
  1. Majid Al Futtaim: ​$4.6Billion
  • Majid Al Futtaim founded retailing and entertainment giant Majid Al Futtaim Holding, known as MAF, in 1992.
  • MAF owns and operates 12 hotels and 21 malls, including Mall of the Emirates in Dubai and the Mall of Egypt in Cairo.
  • It also has the exclusive license to operate hypermarkets for French company Carrefour across the Middle East, North Africa and Central Asia.
  • His son Tariq sits on the board while non-family members manage the conglomerate, which publishes its revenues and profits annually.
  • The group had $8 billion in revenues and $760 million in profits in 2016.
  1. M.A Yusuff Ali: $5Billion
  • Middle East retail king M.A. Yusuff Ali presides over $8.1 billion (revenue) LuLu Group, with 152 stores in the Gulf region and elsewhere.
  • Hailing from a village in Kerala state in south India, Yusuff Ali left for Abu Dhabi in 1973 to join his uncle’s small distribution business.
  • Yusuff Ali is investing back home in a big way, earmarking more than $2 billion to build hotels, malls and convention centers, among much else.
  • After floods hit his native Kerala state in August 2018, he donated $2.6 million towards
  1. Abdulla Al Ghurair: ​$5.9Billion
  • Abdulla Al Ghurair founded Mashreq bank in 1967, one of the U.A.E.’s leading banks. He remains chairman and his son Abdul Aziz is CEO.
  • His eponymous holding company has interests in food, construction and real estate; a non-family member is the group CEO.
  • Al Ghurair Foods claims to have the biggest pasta factory in the Middle East. Its pasta products are sold under the Jenan brand.
  • His construction company did the exterior cladding of Burj Khalifa, the world’s tallest building, and helped build the Dubai Metro.

 

 

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