Mashreq Bank was founded in 1961 and has a loyal customer base of more than 500,000. Kabir Mulchandani is the proprietor of FIVE Holdings, a Dubai-based real estate company that operates luxury party hotels and resorts in the Middle East, Spain, and Switzerland. He established the company in 2011 and intends to list it on the Dubai Stock Exchange in 2025.
Pillai’s journey from a small construction contractor to a business magnate is a testament to his entrepreneurial spirit. As Dubai continues to expand its infrastructure, Pillai’s role in the construction sector has been instrumental, earning him a place among the city’s wealthiest individuals. In the list of richest persons in the world Hussain stands at 962nd number. Abdulla Al Futtaim is an Emirati billionaire businessman and founder of the Al-Futtaim Group, a large conglomerate based in Dubai, UAE. Al-Futtaim Group employs more than 44,000 people and mainly operates in divisions such as; electronics, industries, automotive, real estate, insurance, services, retail, and overseas. In 1967, Abdulla bin Ahmad Al Ghurair founded Mashreqbank, which has since grown into one of the leading banks in the United Arab Emirates.
Pavel Durov founded and owns the messaging app Telegram, boasting over 700 million monthly active users globally. Positioned as a free alternative to messaging platforms like WhatsApp, Telegram competes in the crowded digital communication landscape. The Henley Private Wealth Migration Report for 2023 anticipates that 4,500 millionaires will choose to relocate to the UAE during this year.
With season 2 already mounting to new heights, we take a closer look at the actual income behind the bold personalities. Saeed Bin Butti Al Qebaisi has an investment partnership with a prominent billionaire, Khalifa Bin Butti Al Muhairi. 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 the Dame Commander of the Most Excellent Order of the British Empire in the year 2013. Bloomberg reported that the Egyptian billionaire intends to re-domicile NNS Group in the Abu Dhabi Global Market, the city-state’s international financial centre, subject to regulatory approval. Nassef Sawiris, Egypt’s richest man is relocating his family office to Abu Dhabi, joining a trend among notable investors establishing their operations in the sun-splashed emirate.
- His empire spans across retail, hospitality, and entertainment, with popular brands like Carrefour under its umbrella.
- The city’s population is projected to grow significantly, driven largely by high-net-worth individuals from India, the UK, and Russia.
- Pillai’s journey from a small construction contractor to a business magnate is a testament to his entrepreneurial spirit.
- It attracts some of the richest individuals from around the world, who often consider it a second home.
- Majid Al Futtaim, the founder of the eponymous conglomerate, is a prominent figure in Dubai’s business landscape.
- His diverse portfolio also includes prestigious assets such as the Waldorf Astoria in Scotland and the Great Scotland Yard Hotel, which was formerly the headquarters of the U.K.
What Sawiris said:
As a result, Taghleef Industries became one of the world’s largest manufacturers of polypropene films, food packaging, and lamination. Originally from Mumbai, India, Mulchandani initially worked in his family’s consumer electronics business before relocating to Dubai in the early 2000s to venture into real estate. In the Middle East, Menon’s Sobha Realty operates across the UAE, Qatar, Oman, and other Gulf countries. Menon has expressed plans for his wife to assume the role of chairman at Sobha after his passing, with his son Ravi serving as co-chair. Yusuff Ali, known as the retail magnate of the Middle East, leads LuLu Group International, which generates $8.4 billion in revenue. The conglomerate operates 256 hypermarkets and malls across the Gulf region and beyond.
Moreover, his ventures extend into the sports world with the purchase of Premier League’s Aston Villa Football Club. From real estate to fashion, Zeina is taking the world by storm each sector at a time. Dubbed the queen of Versace, for both her extraordinary properties in Dubai’s Palazzo Versace and her devotion to the brand itself, this Dubai Bling member’s net worth is solid. With businesses and ventures to all their names, it’s no understatement to say we are watching the inner workings of millionaires on the hit reality show.
INDIA TOURS
Education tycoon Sunny Varkey has made significant contributions to Dubai’s education sector through the establishment of GEMS Education. GEMS, one of the largest private education providers globally, operates numerous schools in the UAE and around the world. Varkey’s commitment to providing quality education has not only impacted the lives of countless students but has also propelled him into the ranks of Dubai’s wealthiest individuals. His philanthropic endeavors, including the Varkey Foundation, focus on education initiatives globally, reflecting a commitment to societal richest man in dubai development. Dubai, a city known for its opulence and extravagant lifestyle, is home to some of the wealthiest individuals in the world.
Dubai Luxury Market Keeps Growing
Sajwani’s business prowess extends beyond real estate, with ventures in the hospitality and leisure sectors, further solidifying his status as a key player in Dubai’s economic landscape. Abdulla Al Ghurair is a banking magnate and one of the wealthiest individuals in Dubai. As a pioneer in the banking industry, Al Ghurair’s financial ventures have significantly contributed to Dubai’s position as a global financial hub. Ravi Pillai, hailing from India, has carved a niche for himself in Dubai’s construction industry. His company, RP Group, is a conglomerate with interests in construction, hospitality, and healthcare.
- In conclusion, the wealth of Dubai’s richest individuals is a reflection of the city’s economic prowess and the entrepreneurial spirit that permeates its business landscape.
- His company, RP Group, is a conglomerate with interests in construction, hospitality, and healthcare.
- Mohamed Alabbar, a prominent Dubai billionaire and real estate magnate, voiced concerns about the sustainability of Dubai’s booming luxury market.
- Mohammed Khalaf Al Habtoor was born in one of the biggest business families in Dubai.
- While Dee elevates her platforms through fashion partnerships and strategic collaborations.
From beauty empires, to luxury services, to musical endeavours and, of course, fashion partnerships, the avenues of income are endless. And the motivated bunch continue chasing their next big win, their numbers keep rising upwards. You can go just about anywhere in the city via one long main road (Sheikh Zayed Road) which is a 12-lane superhighway bordered by feeder roads. And if you’d rather not drive, there’s a fully air conditioned, fully automated, driverless metro system with cooled walkways to every major attraction. The Dubai Mall induced vertigo, especially as I rode free-floating escalators, looking at little worlds of Hermès, Dior, Chanel, and Gucci flagship stores hundreds of feet below me.
She then married a 60-year-old Saudi billionaire at 25, who then passed away in 2016. Now she’s focused on being a mother to her children, as she explores her interests in fashion, beauty and beyond. The Dubai Bling star leads a luxury flower brand that has become renowned for its unique beauty and capacity to live for years. An entrepreneur since age 14, Ebraheem Al Samadi’s first endeavour was reselling clothes from his mum’s Florida apartment and now he has an estimated net worth of over Dhs200 million. Looking forward, Yusuff Ali plans to take the retail giant public between 2023 and 2024. His diverse portfolio also includes prestigious assets such as the Waldorf Astoria in Scotland and the Great Scotland Yard Hotel, which was formerly the headquarters of the U.K.
Notably, Sajwani forged a partnership with Donald Trump in 2013 to establish two Trump-branded golf courses within Dubai developments. In April 2020, a member of Abu Dhabi’s royal family reportedly acquired a significant 20% stake in LuLu for $1 billion. Al Muhairi, who also has investments in the healthcare industry, saw his net worth slip from $1.5 billion to $1.2 billion. It attracts some of the richest individuals from around the world, who often consider it a second home. However, in this article, we will unfold the top 10 richest people in Dubai, UAE and their net worth. As the chairman of Dutch chemical producer OCI NV, Sawiris played a key role in listing the joint fertilizer venture with Abu Dhabi National Oil Co. in the emirate towards the end of 2021.
As a TV presenter for a multitude of platforms, she has millions of followers on Instagram waiting to see her next move. The vast majority of the local population works in the service industry, migrating from nearby countries like Pakistan in search of higher wages. And with literally hundreds of millions of foreign visitors per year, the sheer numbers of visitors swamps everything else.
