1- Majid Al Futtaim
If you type on Google “who is the richest person in Dubai?”, one name is certain to come before any other, that of Majid Al Futtaim.
With a net worth that exceeds 6,1 billion dollars, this billionaire can certainly enjoy a life full of luxury. His wealth originates from Majid Al Futtaim Holding (MAF for short), a retail and entertainment conglomerate that is one of the largest companies in the UAE, with more than 120 stores across the Middle East, Central Asia, and North Africa.
Majid Al Futtaim owns the yacht Quattroelle, which has a crew of 29 people and has bought it from Michel Lee-Chin, another business magnate, in 2014.
2- Mohammed Khalaf Al Habtoor AlMarar
He is an investor and the vice-chairman and CEO of the Al Habtoor Group, which is one of the largest conglomerate corporations in the UAE, and is the perfect example of “family money”, as he was born in one of the largest business families of Dubai.
His family’s and his net worth, exceed 7,2 billion dollars, but don’t you go on thinking that this rich heir didn’t do anything himself.
He personally oversaw the diversification of the group into the real estate, hotels, education, insurance, hospitality, automotive, and publishing industry and is not only responsible for the growth of the company, but also for the launch of many major enterprises.
He is a passionate polo player, although we don’t know how he finds the time to do all that and play polo!
3- Abdulla bin Ahmad Al Ghurair
At 91 years old, Abdulla Al Ghurair is holding on strong to the list of one of the richest and more powerful people in the UAE
He is the founder and chairman of Mashreqbank, an Emirati bank, and the brother of another billionaire that we’re going to meet later on our list, Saif Ahmad Al Ghurair.
Both brothers come from a prominent Emirati business family. But Abdulla Al Ghurair’s billions don’t come only from being the founder of one of the leading banks in the UAE, they also come from his eponymous holding company, which is a massive organization with interests in literally everything. His net worth is estimated at about 4,9 billion dollars.
4- Ravi Pillai
As the name suggests, Ravi Pillai is not a UAE native, but an Indian one. At the beginning of his career as a businessman, he wasn’t incredibly lucky, as the construction business was forced to close down after labor strikes.
It was then that he made the decision to move to the United Arab Emirates and start a new business with the help of a partner. Within two years, from the small trading business, he expanded into construction under his new enterprise, Nasser S. Al Hajri Corporation (NSH), a company that would become the foundation of the conglomerate RP Group.
His net worth is about 4,2 billion dollars.
5- M.A Yusuff Ali
With an estimated net worth of 3,7 billion dollars, the Indian M.A Yusuff Ali is another glowing example of what you can achieve in the UAE if you have brains for business.
He is head of LuLu Group International, which is an Indian multinational that operates a chain of retail companies across the United Arab Emirates. But Ali is not only rich, he is also a huge philanthropist – he has invested heavily in India and has contributed the astronomical amount of 2,6 million dollars to recovery efforts when his home state of Kerala was hit by floods, back in 2018.
6- Micky Jagtiani
You will never guess what the previous job of Micky Jagtiani used to be, back when he was living in London. He was a taxi driver.
Micky Jagtiani has a truly inspirational life story: He relocated to the UAE in 1973 and spent the first 10 years running a baby product shop in Bahrain. But that wasn’t enough for him.
When he was able to do so, he decided to expand operations by adding 6 more shops to his name.
After the start of the Gulf War, he made the decision to relocate to Dubai, and with that, he also founded a new corporation, the Landmark Group, which now has an interest in everything under the sun, including furniture, hotels, electronics, and fashion. His current net worth is 3,1 billion dollars.
We guess that even he could never have imagined making this much money when he was driving strangers around the rainy London streets, but here he is, a glowing example of the “follow your dreams” motto.
7- B.R. Shetty
Apparently, Indian people do VERY well in the UAE, and B.R. Shetty is yet another amazing example of this. His net worth is now over 2,6 billion dollars, and for this, he can thank his position at the head of a health care and financial services empire, that has BR Life, NMC Healthcare, and other companies like those under their name.
Much like his other fellow Indian billionaire, he too is a huge philanthropist, and he has even signed the Given Pledge, which is an effort that encourages the world’s richest people to donate half of their wealth to charitable courses within their lifetime.
Half of their wealth might seem excessive, but we only have to think about how many people they can actually help (and with how much money they will still be left) to understand that this is a truly wonderful idea.
8- Sunny Varkey
Do we need to even make a joke about how this list is full of Indian people again? Nah, we’re not going to do that, but we do find it funny how so many of the richest people in the UAE are actually Indians.
Sunny Varkey, is ranked by Forbes as the 962nd richest person in the world, with a net worth of 2,6 billion dollars. How did he make them? Well, he is head of GEMS Education, which is the biggest operator of K-12 schools in the world.
Thanks to this, he has received countless awards over the years, as the best businessman, education leader, etc.
9- Abdulla Futtaim
As the owner of the Al-Futtaim Group, it is no secret where Abdulla Futtaim made his billions. Al-Futtaim Group is a large conglomerate that operates across retail sectors, real estate, insurance, electronics, and automotive, among others. But that wasn’t enough for Abdulla Futtaim. He is also holding the franchise right to a small chain you might know, called IKEA, for stores in UAE, Qatar, Egypt, and Oman. And because that wasn’t enough either, he is also the exclusive distributor of some car brands you might also have heard of, including Toyota, Lexus, and Hino.
10- Hussain Sajwani
When in 2002, Hussain Sajwani founded the real estate development company DAMAC properties, he certainly didn’t know how big it was going to get.
It is now one of the leading companies in the sector and has orchestrated the development of luxury properties, not only in the UAE but in Europe as well.
Hussain was even awarded the title of Real Estate Legend at the Arabian Business Real Estate Awards and he is ranked as the 962nd richest person in the world, with a net worth of over 2,1 billion dollars.