The 10 Richest People in Dubai
Dubai may only be small (3,302,664 residents at the last count), but it has an almost unfair number of citizens with a ten-figure fortune. According to the latest roundup, a fair share of the richest people in the world call the city their home- not surprising really, given that Dubai is the second most expensive city in region and the 20th most expensive in the world. Here, we take a look at the top ten richest people in Dubai and discover the secrets to their wealth. With brilliant Hotel Photographer in Dubai, expensive farms, resorts and luxury hotels. Hotel Photographer in UAE, the best places here in dubai.
5. Micky Jagtiani – Net worth: $3.1 Billion
Micky Jagtiani has well and truly put his early career as a London taxi driver behind him: since relocating to the UAE in 1973, Jagtiani’s fortunes have changed dramatically. After spending 10 years running a baby product shop in Bahrain, Jagtiani decided to expand operations by adding a further 6 shops to his name. After the start of the Gulf War, he made the decision to relocate to Dubai, founding a new corporation, the Landmark Group, in the process. Since then, the company has grown exponentially, with interests in everything from fashion, electronics, and furniture to budget hotels. With a net worth of $3.1B, Hotel Photographer in Abu Dhabi. Jagtiani is ranked by Forbes as the 478th richest person in the world, and the 5th richest in Dubai.
4. M.A Yusuf Ali – Net worth: $3.7 Billion
The UAE based Indian billionaire M.A Yusuff Ali achieved his wealth as the head of LuLu Group International, an Indian multinational that operates a chain of retail companies across the UAE. Under Ali’s leadership, the company has increased its operations extensively over the past few years, and now has interests in retail, food processing, and logistics. in addition to his business activities, Ali is a noted philanthropist, having invested heavily in India and contributed $2.6 million to recovery effort when his home state of Kerala was hit by floods in 2018.
3. Ravi Pillai – Net worth: $4.2 Billion
Ravi Pillar’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. With the help of a local partner, he began a small trading business; within two years, he’d expanded into construction under his new enterprise, Nasser S. Al Hajri Corporation (NSH), Hotel Photographer in Sharjah a company that would eventually form the foundation of the billion-dollar conglomerate, RP Group. As of 2019, Pillai ranks as #529 richest person in the world and 3rd richest in Dubai.
2. Abdulla bin Ahmad Al Ghurair – Net worth: $4.9 Billion
In 1967, Abdulla bin Ahmad Al Ghurair founded Mashreqbank, which has since grown into one of the leading banks in the United Arab Emirates. In addition to drawing a healthy salary in his position as the chairman of the bank (his son, Abdul Aziz, currently holds the position of CEO), Abdulla Al Ghurair’s billions also come from his eponymous holding company, a mammoth organization with interests in everything from real estate and construction to food.
1. Majid Al Futtaim – Net worth: $6.1 Billion
With a net worth estimated by Forbes to b $6.1 Billion, Majid Al Futtaim ranks as the richest person in Dubai. His wealth originates from Majid Al Futtaim Holding (MAF), a retail and entertainment conglomerate which, since its inception in 1992, has grown into one of the largest companies in the UAE, operating more than 120 stores across the Middle East, North Africa and Central Asia region, and owning exclusive rights to operate franchises of Abercrombie & Fitch, AllSaints, Lululemon Athletica, and Carrefour. According to Forbes, the company generated $8.8 billion in revenues and $600 million in profits in 2017, making it easy to see how Al Futtaim acquired his billionaire status.