He has received his prosperity and wealth by investing in Mashreq, which is known as the oldest private bank in the United Arab Emirates. Saif Al Ghurair is the chairman and head of the largest manufacturing and real estate companies in the Emirate, The Al Ghurair Group. He looks after the diversification of Al Habtoor Group into insurance, hotels, real estate, automobile, hospitality, the publishing industry, and education. M.A Yusuff Ali is ranked No. 1 according to Forbes among the top 100 businessmen in the Arab World in the list of 2018. Its LuLu Bolgatty International convention Centre that is situated on the Bolgatty Island is counted among the largest convention centres in South Asia.
Top 25 Richest People in Dubai
This wealth transfer has also been reflected in a growth in private family offices in the UAE. He increased his net worth by earning a huge salary as the bank’s chairman but later stepped down in October 2019. His eldest son, Abdul Aziz, is the current CEO of the bank and chairman of Al Ghurair investment. This includes the Entrepreneur of the Year, the 2009 Asian Awards, an honorary doctorate from Excelsior College.
Hussain Sajwani
While it was well known CZ owned an apartment in Dubai, the details have been kept under wraps, until now. Through corporate filings for Binance subsidiaries in Ireland, Forbes had previously linked Zhao to a 429-square-foot studio apartment in a 23-story building on the dusty edges of Dubai—an unlikely home for a tycoon worth $33 billion. In December 2023, Binance founder Changpeng Zhao asked the judge in his money laundering case in the U.S. District Court of Seattle if he could return to his home in Dubai while awaiting sentencing. The request was rejected, but when Zhao concludes his four-month prison sentence later this year, the crypto mogul is likely to return to the Middle Eastern emirate.
- Widely known as the Oracle of Omaha, Buffett is a buy-and-hold investor who built his fortune by acquiring undervalued companies.
- Abdulla bin Ahmad Al Ghurair, founder of Mashreq Bank, and Sunny Varkey, founder of GEMS Education Group, are tied together at 982nd place with a net worth of $3 billion each.
- Saif Ahmad Al Ghurair was an Emirati billionaire businessman and the founder of Mashreq Bank, one of the country’s most successful companies.
- Saudi Arabia, ranked 30th, is the only other country from the Arab world listed among the top 30 countries with 10 billionaires in 2019.
- Moreover, he began his career by working for International Computers Limited which made him the company’s European treasurer.
He is the Emir of Dubai, which is a hereditary position, and because of this hereditary position, he has been able to serve as the prime minister, vice president, and Minister of Defense of the United Arab Emirates. The money is sure to stay in the family, and Al Ghurair’s brother, Saif Al Ghurair, was also a billionaire before he died in 2019. The business is likely to remain in the family as Al Ghurair has already started to let his children take the reins. Pillai’s wealth can be traced to his decision to abandon his native India for the United Arab Emirates after his Kerala-based construction business was forced to close down after labor strikes. Ravi Pillai may have been born in India, but he has made Dubai his home base and has used careful investments to bolster his wealth. His ambitious, business-oriented mindset has allowed him to build a global business.
He has developed his wealth through his business ventures, starting as a simple employee of a construction firm. He made most of his wealth through the Al Habtoor Group, which started as an engineering firm in 1970. Abdulla Futtaim is the eighth richest man in Dubai with a net worth of $2.5 billion. He holds the Al Futtaim Group, a partnership involved in automotive, insurance, and real estate. It attracts some of the richest individuals from around the world, who often consider it richest man in dubai a second home. However, in this article, we will unfold the top 10 richest people in Dubai, UAE and their net worth.
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His elder daughter Sabeena is married to Shamsheer Vayalil, a billionaire businessman. B.R. Shetty is an Indian-born businessman who is the founder and a shareholder in several major companies, including; BRS Ventures, NMC Health, Finablr, and Neopharma, situated in the United Arab Emirates. According to Flashy Dubai, Hussain has a net worth of $2.1 billion and is listed among the 100 most globally influential Arabs by Gulf Business.
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As the largest city in the UAE, It is celebrated as a major center for business and culture. It possesses a high concentration of wealthy individuals and many of its billionaires rank among the world’s rich men in Dubai. Saif Al Ghurair holds the tenth spot among Dubai richest man individuals with a net worth of $1.7 billion. He owns the Al Ghurair Group, which operates in real estate and manufacturing and has significant investments in private banks in the UAE.
According to the list of 2019, Ravi Pillai was ranked as the 529 richest people around the world and 3rd in Dubai. The richest ranked person in Dubai, Majid Al Futtaim is the chairman of the Majid Al Futtaim Holding (MAF), the entertainment and retail conglomerate. It originated in 1992 and soon grew into one of the largest companies across the UAE. Today, it includes more than 120 stores around North Africa, the Central Asia region and the Middle East.
Department of Justice seizure warrants, U.S. congressional letters and in Indian Supreme Court filings, and he was a part of the Russian Asset Tracker project that won the 2023 European Press Prize award. Tognini graduated with a double major in political science and political economy from the University of California, Berkeley and a master’s in journalism from Columbia University. Follow Tognini for continued coverage of billionaires and investigations into offshore wealth. Among the richest people of the UAE, seven are UAE nationals who control $27.1 billion wealth, while the remaining 17 are expatriates holding $42.1 billion assets. Majid Al Futtaim is the richest person in the UAE with $8.9 billion assets, followed by $7.2 billion wealth held by Khalaf Habtoor & family, whose wealth grew by mammoth 91 per cent. Third-ranked MA Yusuffali, owner of Lulu Group, saw his wealth jump 14 per cent to $5.2 billion.