The Three Richest People of Dubai
When you think Dubai, you think rich!
And there are plenty of reason for it.
There are people there richer than entire countries!
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These are the three wealthiest people living in Dubai right now!
Majid Al Futtaim, with an estimated net worth of $10.9 billion (as of April, 2017), is the richest entrepreneur in Dubai. He established Majid Al Futtaim Group in 1992, after he split with his brother and left the Al Futtaim empire. His holding company is run by outsiders. The company deals in malls and presently spans 15 international markets, with more than 33,000 employees.
It has Carrefour hypermarkets across Central Asia, North Africa and the Middle East. The company also operates Mall of the Emirates. His latest ventures include the Mall of Egypt, which happens to be the first shopping destination of its kind in the country. Majid Al Futtaim’s son Tariq Al Futtaim, works for the Majid Al Futtaim Group.
Abdulla Al Ghurair established Mashreqbank in 1967, which later became one of the leading banks in the UAE. Abdulla, the cousin of Saif Al Ghurair, is the Chairman of the bank.
His holding company, which is run by an outsider, deals in construction, real estate and food businesses. In 2015, he declared that one third of his company’s assets would be used for the investment of educational programs in the Emirates and other Arab nations.
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With a net worth of $7 billion (as of April, 2017), Abdulla Al Ghurair is one of the richest people in Dubai. He is also one of the richest people in the world. He ran Hewlett-Packard’s business division in the Middle East.
Called the retail king of the Middle East, M.A. Yusuff Ali earns more than $7.4 billion in revenue for his LuLu Group. He has 133 stores in Malaysia, Indonesia, Egypt, India and the Gulf. His new projects include one in Kerala.
The $300 million investment will consist of a convention center, a hotel and a mall. M.A. Yusuff Ali has a 50 percent stake in Sheraton hotel in Muscat. He also owns Dubai’s first Steigenberger hotel, and the Scotland Yard Hotel in London is going to reopen later in 2017.
Yusuff Ali moved to the Emirates in 1973. His uncle MK Abdullah, the Chairman of the EMKE Group of companies, was already doing business in Abu Dhabi. Yusuff Ali developed the wholesale distribution of the company and started a supermarket business with Lulu Hypermarket.
The information was provided by therichest.com.
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