They are also the owner and management of some hotels, apartments, and a shopping mall in Dubai. He is a respected businessman in the UAE and is loved for his passion and hardworking characteristic which has, in turn, earned him his position as one of the richest men in the entire UAE. Dr Shamshree Vayall was born on 11 January 1977 in India, he completed his graduation from Kasturba medical college, Manipal.
According to Hurun Global report, the UAE is ranked 20th worldwide for having the highest number of billionaires. Dubai is home to 18 billionaires, ranking the city 25th among global cities which have the highest number of ultra-high net worth individuals. Ranking 511 on the list is Micky Jagtiani, chairman of Landmark Group, with a net worth of $5.2 billion. He is followed by Hussain Sajwani, founder and CEO of DAMAC Properties, at the 611th position with a net worth of $4.5 billion. Business tycoons based in the UAE have bagged prominent positions in the Forbes’ 37th annual world’s billionaires list.
- He has some shares in form of investments in different firms, for example, he has 4.99 percent in the Catholic Syrian Bank which is situated in Thrissur, he also has a share of 4.47 percent in the Federal Bank in Aluva.
- Al Futtaim is also the owner of the megayacht named Radiant, which is ranked the seventh most expensive luxury asset of all time.
- Our list contains some of the most epic and outrageous ways people in Dubai choose to spend their many millions or in some cases even billions.
- According to Glusea, Micky Jagtiani is married to Renuka Jagtiani, and they have three children.
Take a look at their net worth and who they start their work with and their struggle to become a Richman. Khalaf Al Habtoor is the main driver of the family’s wealth, he is the son of a very popular business mogul, investor, and also the CEO of Al Habtoor group. Al Habtoor Group is one of the largest companies whose activities are broadly diversified. Al Habtoor Group is into a wide range of business investments like real estate, hotel management, education, hospitality, as well as the publishing industry.
With a net worth of 1.4 billion USD, Shamsheer Vayalil is counted among the top prominent businessmen in Dubai. The city may seem very small, but there lie more than 3,302,000 residents. Dubai is known as the second most expensive city in the Middle East and 20th in the world. The fortune of UAE’s 11 billionaires shrank while eight saw their wealth growing last year, reflecting impact of the slower overall economic growth witnessed last year.
If you missed out on your chance of meeting your favourite celebrity then don’t worry, you can hire them for a private meeting! Most of us can only wish to be lucky enough to click a selfie with our favourite stars but for the filthy rich elite in Dubai, it is just a matter of booking their favourite stars for a private meeting. Celebrities like Wiz Khalifa, French Montana, Paris Hilton and Chris Brown will play and even DJ at your party but you’ll only have to pay them around AED 1.1–1.8M, which is no biggie for billionaires. The 14-year-old son of the famous construction mogul in Dubai, Saif Ahmed Belhasa has a social media account where he has uploaded photos with the likes of Jackie Chan, Akon, Messi and Nicki Minaj.
Chairman – DAMAC Properties
Sunny Varkey is the founder and chairman of GEMS Education, the management firm that is known for its global advisory and education. This is the largest organisation that is private for kindergarten to 12 standard schools. More than 52 schools are established under this organisation in 4 countries. Joy Alukkas, chairman and managing director of Joyalukkas Group, ranks 1,067 with a net worth of $2.8 billion.
In 2006, he opened the company Taghleef Industries by merging Dubai PolyFilm with AKPP in Oman and Technopak in Egypt. As a result, Taghleef Industries became one of the world’s largest manufacturers of polypropene films, food packaging, and lamination. She is an American makeup artist, beauty blogger, and entrepreneur and is also the founder of the cosmetics line Huda Beauty. The Indian entrepreneur, Azad Moopen works in the healthcare, physician and philanthropic field. He has developed some great health care facilities in the Asia-Pacific region. He is ranked 6th among the top 100 Indian Leaders in UAE, by Forbes.
Lulu Group International is in charge of Lulu international shopping mall as well as the Lulu Hypermarket chain worldwide. After the discovery of oil, the country transformed gradually on a very fast track. Today, it is a place of attraction to the entire world, the wealth from oil has been an edge and most of the developments in the country today are aided by oil money.
Abdulla Futtaim – $2.4 billion
He is the managing director and chairman of LuLu Group International, the very popular Group of Industries that includes LuLu International Shopping Mall and LuLu Hypermarket chain across the world. The last year has proven challenging for the world’s richest people. The Forbes World’s Billionaires 2023 ranking features 2,640 people, down from 2,668 in 2022. Collectively, billionaires are now worth $12.2 trillion—$500 billion less than in March last year—and nearly half are poorer than they were in 2022. The 10th entrepreneur from the UAE to be named in the list is Dr Shamsheer Vayalil, founder and chairman of Burjeel Holdings, with a net worth of $2.2 billion and featured in the 1,368 position. Abdulla bin Ahmad Al Ghurair is one of the oldest billionaires on this list, so he has worked for decades to build his business and make an impact on many industries.
Micky Jagtiani Net Worth – $3.1 Billion
Some even go the extra mile to hide their wealth from the entire public due to their reasons. Saeed was also a signatory to the Perpetual Maritime Truce that was signed with the British government in 1853. Having discovered how much easier it is for an Upcoming rich man to grow so wealthy in Dubai, he decided to invest highly in the city by establishing a few real estates. From there, he was able to expand to other places outside the UAE like London and Paris. Some other things he owns include; a golf course which is design by Tiger woods and is being managed by the Trump Organization. Abdullah Futtaim holds the third position having a net worth of USD2.1 billion.
According to Glusea, Micky Jagtiani is married to Renuka Jagtiani, and they have three children. B.R. Shetty is an Indian-born businessman who is the founder and a shareholder in several major companies, including; BRS Ventures, NMC Health, Finablr, and Neopharma, situated in the United Arab Emirates. Ghurair is also the CEO of the Dubai-based Al-Ghurair Group, one of the largest manufacturing and real estate companies in the United Arab Emirates.
Business Setup Services for Nigeria Nationality in 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. Al Habtoor is still making plenty of business moves to promote even more wealth and has notably become interested in a $3 billion Central European real estate investment. This European interest dovetails with Al Habtoor’s interest in international affairs. And, thanks to a new law introduced in February this year, (Decree Law 19), they can bring their family offices with them. Without them, Dubai’s own talented or entrepreneurial youth might follow them overseas.
He currently has a license from popular brands like Athletica, Abercrombie & Fitch, as well as Lululemon. Despite his apparently vast wealth, the prince is nowhere to be found on Forbes’ billionaires ranking https://1investing.in/ — because nobody knows just how rich he is. In 2018, Forbes removed all of the Saudi billionaires that had previously made its 2017 list due to a lack of clarity about the extent of their wealth.
The richest man in Dubai strategically navigated the financial sector, establishing a robust portfolio of investments. His astute financial decisions and diversified holdings fortified Dubai’s position as a global financial powerhouse. Just take a look at the series of photos posted by Instagram account richkidsofdubai to get a sneak peek elite residents and expats buying gold in Dubai. Withdrawing wads of money is just too mainstream for the super-rich residents of Dubai; it’s ATMs spewing gold that is more up their alley. There are actual ATMs in Dubai that are not only made out of gold but even dispense gold coins, bars and medallions.
Pillai continues to expand his business and has plans to invest up to a billion dollars in group verticals by partnering with foreign businesses to help expand his influence and build his net worth even more. Alongside students and computer coders, the U.A.E. has also been handing out golden visas to actors. Yasmin Abdelaziz, a popular Egyptian actress was given a golden visa in July, joining a trio of Lebanese pop-stars-Najwa Karam, Marwan Khoury and Ragheb Alama-who have already been given the visa.
At the start of the Gulf War, Micky relocated to Dubai, where he founded the Landmark Group, an Indian multinational 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 dubai richest man coffee, and at the age of 13, he had already sold his first house. Saeed Bin Butti Al Qebaisi has an investment partnership with a prominent billionaire, Khalifa Bin Butti Al Muhairi. The Allan Group of Industries offers various products like oils, frozen foods and institutional services.
Moreover, Abdullah bin Ahmad Al Ghurair holds many eponymous companies and mammoth corporations with the interest of real estate and food construction. He looks after the diversification of Al Habtoor Group into insurance, hotels, real estate, automobile, hospitality, the publishing industry, and education. Mohammed Khalaf Al Habtoor is the founder of the Dubai Polo Gold Cup. In this article, we list the top 25 richest people in Dubai with a net worth above a billion USD. This is also reflected in the Middle East, with nine of the 21 Arab billionaires worth less now than they were a year ago. However, their collective wealth has gone up from $52.9 billion in 2022 to $53.9 billion in 2023.