Richest People in United Arab Emirates
United Arab Emirates is one of the richest countries of the world. Seeing the development in Dubai,everyone actually keeps wondering how rich the people in UAE are. There extravagant lifestyle keeps us guessing the wealth each person owns.
UAE has the seventh largest oil reserve in the whole world. The first president of UAE saw the potential of the oil reserves and used the revenue to develop healthcare and education. Tourism has acted as a major source of income for UAE. Here is the list of the richest people in UAE and their source of income.
1. Pavel Durov - $17.2 Billion
Pavel Durov, born in 1984, is a Russian tech entrepreneur best known for founding VK, Russia's largest social network, and Telegram, a privacy-focused messaging app. Known for his staunch stance on user privacy and free speech, Durov resisted government pressure to share user data, leading him to leave Russia in 2014. Telegram, launched in 2013, now has millions of global users and is favored for its strong encryption features.
2. M.A. Yusuff Ali - $4.8 Billion
M.A. Yusuff Ali is an Indian entrepreneur and the founder of LuLu Group International, a major retail conglomerate with over 200 hypermarkets globally, primarily in the Middle East. Born in Kerala, he moved to Abu Dhabi in 1973 and expanded a family business into a multi-billion dollar empire.
3. Majid Al Futtaim & Family - $3.6 Billion
Majid Al Futtaim, an Emirati billionaire (1934–2021), founded the Majid Al Futtaim Group in 1992, transforming retail in the Middle East. His company, known for the iconic Mall of the Emirates and other major retail spaces, spans 20 countries and employs over 45,000 people. The group also operates Carrefour hypermarkets across the MENA region, as well as luxury properties like the Tilal Al Ghaf villa community?.
4. Abdulla bin Ahmad Al Ghurair & Family - $2.8 Billion
Abdulla bin Ahmad Al Ghurair is a prominent Emirati businessman known for founding Mashreq Bank in 1967, a leading financial institution in the UAE. His ventures span construction, real estate, and food sectors, with projects like the Burj Khalifa's cladding. A committed philanthropist, he established the Abdulla Al Ghurair Foundation for Education to empower youth through educational opportunities?.
5. Micky Jagtiani - $2.8 Billion
Micky Jagtiani, an Indian businessman based in Dubai, founded the retail conglomerate Landmark Group. Starting with a single store in Bahrain in 1973, he expanded it into a multi-billion-dollar enterprise across 21 countries, encompassing brands like Babyshop and Splash. Known for his philanthropy, Jagtiani supported causes in education and healthcare through his LIFE foundation.
6. Ravi Pillai - $2.5 Billion
B. Ravi Pillai is an Indian billionaire and founder of the RP Group, a multinational conglomerate with interests in construction, hospitality, healthcare, and more. His business journey began modestly, later expanding globally, especially in the Middle East. Known for his contributions to infrastructure and real estate, Pillai is a celebrated entrepreneur and philanthropist, committed to social causes in healthcare and education.
7. Hussain Sajwani - $2.4 Billion
Hussain Sajwani is a prominent Emirati businessman known for founding DAMAC Properties, a luxury real estate developer in Dubai. He expanded DAMAC globally and is valued for his innovative approach in the luxury real estate market, partnering with high-end brands like Versace and Fendi.
8. Abdulla Al Futtaim & family - $2.2 Billion
Abdulla Al Futtaim, an Emirati billionaire, heads the Al Futtaim Group, a prominent conglomerate spanning automotive, retail, real estate, and financial services in the UAE. Established in 1955, the group holds exclusive rights to Toyota distribution in the region and licenses for brands like IKEA, Hertz, and Marks & Spencer.
9. Thaksin Shinawatra - $2 Billion
Thaksin Shinawatra, born in 1949, served as Thailand's prime minister from 2001 to 2006. Known for his populist policies, he expanded healthcare and stimulated economic growth but faced controversy, especially around alleged corruption and human rights concerns.
10. Sunny Varkey - $1.4 Billion
Sunny Varkey, born in India and based in Dubai, is an influential education entrepreneur and philanthropist. He founded GEMS Education, the largest K-12 private school operator globally, managing over 250 schools in 13 countries.
