Ons-Sön 10-18

The pair married in Amman in 2004 and had two children, Al Jalila and Zayed. Sheikh Mohammed became ruler of Dubai and vice-president and prime minister of the UAE in 2006, after his brother died aged 62 during a visit to Australia. Turakhia is a programmer, serial entrepreneur, and investor worth $1.76 billion.

Here you see the world’s largest building, modern architectural designs, fantastic weather, and famous businessmen. Dubai is known for its skyscrapers, ports, and beaches also but along with this you see a large number of business industries established in Dubai in previous years. Dubai took first place in the business industry and boosted the growth of the UAE. Here you see the high standard of mindset and their mind-blowing plans to grow business and make Dubai a melting point all over the Middle East. Dubai is a crime-free city that helps the efficiency and evolution of business. To protect their safe environment, Many industry and businessmen made their homes in Dubai, UAE.

Sheikh Mohammed bin Rashid Al Maktoum is the 71-year-old billionaire ruler of Dubai and vice-president of the United Arab Emirates. His medical companies operate through Centurion Investments, which he owns, and his medical holdings also include numerous hospitals scattered around the Middle East and beyond. His family is related by marriage to the royal family in Abu Dhabi, and the lineage of the royal family in turn stretches back to the mid-1800s. The Lulu Group also owns supermarkets throughout the Middle East, along with several malls, so he’s definitely got his fingers in a lot of money pies. If you’re looking for wealth, Dubai is a pretty great place to start your search. It’s become notorious as a playground and hangout spot for the rich, especially in the cloistered world of Middle East wealth.

Al Futtaim’s company is now run by his son, Omar, but Al Futtaim still has a huge role in the company. 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 and his family acquired his billionaire status. In addition to holding the franchise right to IKEA stores in UAE, Qatar, Egypt, and Oman, the company is also the exclusive distributor of several major car brands, including Toyota, Lexus, and Hino in the UAE. Not only do we make sure we are using the best information, but we also strive to update our content based on new findings and changing circumstances. This diligence means that all parts of this list have been carefully thought through and designed to give the most accurate information on the richest men in Dubai. In addition to being at the helm of Tesla, Musk is CEO of rocket ship company SpaceX.

  1. Since its establishment, the company has delivered more than 27,000 homes.
  2. This is also reflected in the Middle East, with nine of the 21 Arab billionaires worth less now than they were a year ago.
  3. Ellison, who also had a stint on Tesla’s board of directors from 2018 to 2022, has ranked high in billionaire lists for several years now.
  4. Al Habtoor does, and he was born into one of the largest business families in Dubai.

In 2022, he also purchased Twitter, which is now called X, for $44 billion. While he no longer serves as CEO of the social media platform, he still holds broad influence—and has faced ample pushback from issues ranging from content moderation and hate speech to alienating advertisers. Elon Musk has a net worth of $182.6 billion per Forbes’ real-time rankings as of Wednesday. Here’s a look at the wealth of the five billionaires spotlighted by Oxfam, and where their fortunes stand today. It is a well-known fact that the elite in Dubai are serious fashionistas.

S&P Global Ratings revises Ras Al Khaimah’s outlook to ’positive’

His yacht is named the Radiant, and it’s ranked as the seventh most expensive luxury asset of all time. His company is highly rated by his employees at AmbitionBox, which is one of his many companies. Jagtiani also owns Home Box, and a number of lifestyle brands, including Max fashion and Centrepoint Dubai, which is a retail and hospitality conglomerate.

Abdulla is also the founder of Carrefour UAE, which is a joint business between Groupe Casino and Al-Futtaim Group. He began trading at age nine with 50kg of ground coffee, and at the age of 13, he had already sold his first house. Robert Willet was the CEO of Al-Futtaim Group until he resigned in January 2011.

Read on to discover who the richest man in Dubai is and how he made his billions of dollars. Accordingly, the wealthy in Dubai have tons of wealth and there are multiple billionaires and even multi-billionaires who reflect the wealth of Dubai and the industries that make its economy so robust. It’s no wonder that New World Wealth has projected Dubai to become one of the world’s top 20 wealthiest cities by 2030. Over the years, Buffett has gained a reputation for his investment success and aggressive business tactics.

Chairman – Allan Group

Durov is not only a billionaire, but he was able to make a name for himself at a young age and founded VK when he was only 22. After refusing to cooperate with the Russian government, Durov fled Russia and became a French citizen. He moved many of his Telegram operations to Dubai and became a UAE citizen in 2021, and still lives in Dubai. His choice to move to Dubai has made him one of the most powerful figures in the UAE. While Durov is a billionaire, he claims to live a simple life and chooses not to have too many possessions. Bernard Arnault and his family currently hold a personal fortune of $210.8 billion per Forbes.

He also expanded his business from jewellery to other sectors like real estate, silk, exchange and fashion. The Emirati Politician and member of the ruling family of Sharjah, Lubna Khalid Ali Qasimi is one of the dubai richest man most powerful women in the world. Previously, she has served as the Minister of State for Tolerance, Minister of Economic and Planning of United Arab Emirates, and Minister of State for International Cooperation.

He started his path to riches by driving a cab in London, after which he moved to Bahrain and started a baby products shop in the early 70s. Born into a family of farmers in India, Pillai was definitely not destined for the modest life of a farmer. He got a degree in commerce, then started an engineering contracting firm. It is also behind the construction of the Burj Khalifa’s exterior cladding, the world’s tallest building. Abdulla Al Ghurair is the first Goodwill Ambassador for education in the Arab world since 2016. He is also a member of the Board of Trustees at The Arab Monetary Fund.

Also managing director and vice-chairman of the healthcare and education investment company, Amanat Holdings. Bavaguthu Raghuram Shetty, the founder and acquirer of the United Arab Emirates companies accommodating Abu-Dhabi based NMC Health, BRS Ventures, Neopharma and Finablr. B.R Shetty is an Indian-born businessman who is counted among the top businessmen in Dubai.

Chairman – Dabur International

The conglomerate currently holds the franchise right to IKEA stores in Qatar, Oman, UAE, and Egypt. The group is also the distributor of major car brands, such as Lexus, Hino, and Toyota. In 2008, Al-Futtaim Group bought approximately 90 percent of Robinsons & Co. Although Dubai is a small town, it is the 20th most expensive town in the world and the second most expensive city in the region behind London.

Third-ranked MA Yusuffali, owner of Lulu Group, saw his wealth jump 14 per cent to $5.2 billion. At the time Oxfam pulled Forbes figures for its inequality report, Warren Buffett was the world’s fifth richest person with a net worth of $119.2 billion. While his personal fortune has stayed relatively stable since ($126.3 billion as of Wednesday), Meta CEO Mark Zuckerberg has surpassed him in Forbes’ rankings with a current net worth of $137.7 billion. Oxfam timed its report to the gathering of political and business elites in Davos, Switzerland, where the World Economic Forum meets annually. Numerous billionaires and multimillionaires also penned a letter calling on global leaders to fairly tax the super rich like themselves. Musk, Arnault, Bezos, Ellison and Buffett were not among the signatories—although Buffett has famously criticized the wealthy’s lower tax rates and previously advocated for policy change in the same vein.

It’s since grown into one of the leading companies in the sector, having orchestrated the development of multiple large-scale, luxury properties and projects across both Europe and the UAE. In 1967, Abdulla bin Ahmad Al Ghurair founded Mashreqbank, which has since grown into one of the leading banks in the United Arab Emirates. With a population of less than 4 million, Dubai is not the biggest city in the world, but it is certainly a significant city, and the wealth within this city makes it a beacon for business-minded people.

Business Setup Services for Indian Nationality in UAE

Dubai is one of the most prosperous and technologically advanced cities around the globe. In the listing of 2017 by Forbes, Lubna Khalid Ali Qasimi is the 36th most popular women in the world. Moreover, she was honoured as https://1investing.in/ the Dame Commander of the Most Excellent Order of the British Empire in the year 2013. Feroz Allana, the co-founder of the Allan Group which is well known for its production of the fastest moving consumer goods (FMCG).

Abdulla bin Ahmad Al Ghurair

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. 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. Mohammad Khalaf Al Habtoor has long been one of the wealthiest residents of Dubai. Although his net worth was estimated at 2.3 billion by Forbes in 2006, current estimates of his net worth are slightly lower. He has developed his wealth through his business ventures, starting as a simple employee of a construction firm.

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