Dubai is one of the most popular cities in the world and one of the major cities of the United Arab Emirates (UAE). The city has one of the highest percentages of people with top-notch wealth. Most of the billionaires of Dubai are listed in the top billionaires of the world. Dubai is the largest city in the UAE which is known as the hub of business and culture. Dubai is the home to tons of famous and rich, wealthy people in the world. The Indian radiologist and businessman, Shamsheer Vayalil Parambath is the founder, managing director and chairman of the VPS Healthcare Group.
Business
An engineer by training, Arnault first showed his business acumen richest man in dubai while working for his father’s construction firm, Ferret-Savinel, taking charge of the company in 1971. He converted Ferret-Savinel to a real estate company named Férinel Inc. in 1979. French national Bernard Arnault is the chair and CEO of LVMH, the world’s largest luxury goods company. In December 2020, Tesla joined the S&P 500, becoming the largest company added, and in January 2021, Musk became the richest person in the world—a title that has fluctuated alongside the value of Tesla. 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. Multi-billionaires can also take advantage of a panoply of tax deductions to offset reported income, leaving some on this list paying no income tax in recent years.
OCCRP, E24, Forbes and their partners spent months verifying the identities of the people who appeared in the leaked data, as well as confirming their ownership status, using official records, open source research, and other leaked datasets. Representatives for the billionaires with properties in Dubai either declined to comment or did not respond to Forbes’ questions. Dubai ranked 28th on the list of cities with the highest number of billionaires in the world, according to the 2024 Hurun Global Rich List, while the UAE ranked 22nd among countries.
Abdulla bin Ahmad Al Ghurair Net Worth – $4.9 Billion
- The most famous living value investor, Warren Buffett filed his first tax return in 1944 at age 14, declaring earnings from his boyhood paper route.
- An engineer by training, Arnault first showed his business acumen while working for his father’s construction firm, Ferret-Savinel, taking charge of the company in 1971.
- He began trading at age nine with 50kg of ground coffee, and at the age of 13, he had already sold his first house.
- Ranking 511 on the list is Micky Jagtiani, chairman of Landmark Group, with a net worth of $5.2 billion.
- Al Futtaim is also the owner of the megayacht named Radiant, which is ranked the seventh most expensive luxury asset of all time.
- The Emirati billionaire who is the fellow cousin of Majid Al Futtaim and owner of the Al-Futtaim Group, Abdullah Al Futtaim is counted among one of the richest men in Dubai.
Abdullah bin Ahmad Al Ghurair is the founder of one of the leading banks in the United Arab Emirates, Mashreqbank. He acts as the chairman meanwhile his son, Abdul Aziz holds the position of CEO. Soon after the NSH launch, the company formed a billion dollar empire foundation, RP Group.
Naguib Sawiris & family
The headquarters of Allana Group is established in Sharjah, a neighbourhood of Dubai. The British billionaire, Saket Burman is a very prominent billionaire in Dubai, London and Delhi. Shamsheer Vayalil got his MBBS degree from Kasturba Medical College, Manipal and MD from Sri Ramachandra Medical College and Research Institute. With a net worth of 1.4 billion USD, Shamsheer Vayalil is counted among the top prominent businessmen in Dubai.
Al Futtaim is also the owner of the megayacht named Radiant, which is ranked the seventh most expensive luxury asset of all time. Then there’s the skyline in downtown Dubai, studded with skyscrapers and malls surrounding the Burj Khalifa, the tallest building on the planet at 2,717 feet. Zhao owns his apartment in the luxury highrise the 118, composed of only 26 apartments with each unit taking up an entire floor. Andrew and Peggy Cherng, the billionaires behind fast-food chain Panda Express, own an office unit in Boulevard Plaza Tower 1, a 37-story building with sloping glass facades across the street from the Burj Khalifa. And Turkish magnate Ferit Faik Sahenk owns a $5 million, 2,170-square-foot pad in the Burj Khalifa itself. The data was obtained by the Center for Advanced Defense Studies (C4ADS), a non-profit organization based in Washington, D.C., that researches international crime and conflict.
In 2008, Al-Futtaim Group bought approximately 90 percent of Robinsons & Co. Durov’s wealth grew exponentially recently after his messaging app Telegram became highly popular because Facebook-owned WhatsApp announced a new privacy policy for users. Launched in August 2013, Telegram users grew from 35 million in March 2014 to over 500 million worldwide by January 2021. In the past three years, Durov has become richer by over 900 per cent from $1.7 billion in 2018 to $17.2 billion in 2011. Meanwhile, his ranking in the Forbes billionaires list improved from 1,394 in 2018 to 565 in 2020 and 112 this year. The top ten added $426 billion to the fortunes of the world’s wealthiest, accounting for 56% of the total new wealth, valued at $1.5 trillion, representing 10% of the total list.
Waheed Abbas is Assistant Editor, covering real estate, aviation and other business stories that directly affect the lives of UAE consumers. Ashwani Kumar is a versatile journalist who explores every beat in Abu Dhabi with an insatiable curiosity. He loves uncovering stories that are informative and help readers form their own opinions.
He is included in the Republic Day honors list in 2010 by the Indian Government. B. Ravi Pillai is one of the most successful self-made Indian entrepreneurs. This Indian multinational company owns the Lulu International Shopping Mall and the Lulu Hypermarket chain worldwide. Under his leadership, the company has been able to increase its operations over the past few years extensively and now has interests in both food and non-food categories. Due to his involvement in the health sector, he was awarded several awards like the 2011 Asian Achievers Award, 2012 Global Indian of the Year, and 2017 Annual Health Awards. In May 2018, Shetty was listed among the top Indian Leaders in the Arab world.
Although he doesn’t take as active of a role, he remains a board member the businesses he founded. Sunny Varkey is not only a savvy businessman, but he has also worked to promote better education around the world. As the head of GEMS Education (which, with 250 schools worldwide, is the biggest operator of K-12 schools in the world), Indian born billionaire Sunny Varkey is ranked by Forbes as the 1123rd richest person in the world.