It’s no wonder that New World Wealth has projected Dubai to become one of the world’s top 20 wealthiest cities by 2030. 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. Thaksin Shinawatra is the founder of Advanced Info Service which is a mobile phone operator company and the Shin Corporation which is an IT and telecommunications alliance based company. Sunny Varkey, a non-residential Indian who is an excellent education philanthropist as well as an entrepreneur.
The automobile, financial services and jewellery sector lost 8, 7 and 5 billionaires respectively, followed by pharmaceuticals and FMCG, who lost 4 each. Dubai – The UAE is ranked 20th worldwide for having the highest number of billionaires. According to Forbes, Bernard Arnault is the wealthiest man in the world. Raghuvinder Kataria is a British billionaire who has a well-established business in Dubai. He is famous for his interest in the telecommunications and property sectors. The Indian-born Nigerian billionaire, Sunil Vaswani is the chairman of Stallion Group.
Although Pavel Durov was not born in Dubai, he has become a resident of Dubai and a citizen of the UAE. He was born in Russia, but he spent much of his childhood in Italy before attending St. Petersburg State University, where he studied in the Philology Department. Durov is known for being the founder of the Russian social networking service, VK, which is used around the world but primarily in Russia.
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. 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.
With 230 banks, including 27 of the world’s top 29 systemic banks, and over 350 reputable wealth and asset management firms, DIFC provides a conducive environment for managing portfolios. Essa Kazim, governor of DIFC, underscores the center’s pivotal role in shaping the landscape of family wealth, highlighting its exponential growth and expertise in serving affluent families and businesses worldwide. Dubai’s financial landscape has also evolved to cater to the needs of affluent individuals and family businesses. The Dubai International Financial Centre (DIFC) has emerged as a crucial hub for fund management professionals, offering services to manage assets proficiently. In 2023, DIFC introduced the world’s first Family Wealth Centre, aimed at fostering global family wealth and supporting family enterprises.
ADIA establishes subsidiary in India’s GIFT City
In 2013, Yusuff Ali bought 5% of the Catholic Syrian Bank (CSB) and about 5% of the Dhanlaxmi Bank. Sunny is married to two sons, Jay and Dino, who have several leadership roles in GEMS Education. GEMS Education is also the largest operator of private kindergarten schools worldwide, with more than 80 schools in about seven countries. According to Forbes Middle East, Abdulla Futtaim is married, and his son, Omar Al Futtaim, is the current CEO of Al-Futtaim Private Company. Abdulla’s company is the largest retailer in Africa, with more than 250 department stores, shopping centers, hypermarkets, and outlets located in various parts of the continent.
Yogi Berra Quotes That Apply to Business
Abdulla’s $4.9 million net worth is from his mammoth holding company focusing on food, construction, and real estate. Lulu Group International began its operations as a family business venture and was later diversified to include the import and distribution of frozen commodities from the United States and Europe. In 2013, Lulu International Shopping Mall was opened, making it the group’s first retail venture in India and the largest shopping mall in India. Lulu Group International currently employs the largest number of Indians living outside India. In 2006, he started his large business investments in India by launching the Lulu Convention Centre.
Latest Properties
- These billionaires can, however, still borrow against that wealth to avoid selling stock, deferring (or eliminating for heirs) taxes on unrealized capital gains in the process.
- B.R. Shetty is the founder of NMC Health, BRS Ventures, Neopharma, and Fnablr, and is the sixth richest person in Dubai with a net worth of $2.6 billion in 2023.
- Abdulla’s $4.9 million net worth is from his mammoth holding company focusing on food, construction, and real estate.
- “Corrupt actors and politically exposed individuals avoiding public accountability use secrecy jurisdictions like the UAE to hide assets in plain sight,” said Maria Giuditta Borselli, a portfolio manager at C4ADS.
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. 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. Dubai richest man in dubai is one of the richest cities in the world, however, Abu Dhabi, the capital of UAE is the richest city in the world.
Its portfolio of wholly owned subsidiaries includes interests in insurance, energy distribution, and railroads as well as consumer products. Page was among early investors in Planetary Resources, a space exploration and asteroid-mining company. Established in 2009, the company was acquired by blockchain firm ConsenSys in 2018 amid funding problems. He has also shown an interest in flying car companies, investing in both Kitty Hawk and Opener, although Kitty Hawk ceased operations in 2022.
Joy Alukkas, chairman and managing director of Joyalukkas Group, ranks 1,067 with a net worth of $2.8 billion. He is followed by Abdulla Al Futtaim and family, who own the conglomerate Al Futtaim Group, with a global rank of 1,272 and a net worth of $2.4 billion. 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. With over 10 years experience he’s covered businesses, CEOs, and investments. However he does like to take on other topics involving some of his personal interests like automobiles, future technologies, and anything else that could change the world.
