With the billionaire population now ageing, they are looking beyond their borders as their families grow. Within the Middle East and Africa region, UAE billionaires’ aggregate wealth rose by 39.5% to $138.7 billion, with the number of billionaires growing to 18 in 2024, the Swiss banks said in a report. He has investments in real estate projects, car distribution, leisure, and entertainment. Since its establishment, MAF has grown to be one of the largest firms in the United Arab Emirates.
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Hussain Sajwani is the founder and chairman of DAMAC Properties – a real estate development company. He was awarded the Arabian Business Real Estate Award along with the title of the Real Estate Legend. DAMAC Properties is counted among the leading companies of real estate which have directed the development of multiple large scale projects, and luxurious property across Europe and UAE. With so much of their wealth in publicly traded stocks, the net worth of the richest fluctuates along with the market valuations of the companies they own.
- 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.
- Oracle has acquired numerous large companies over its history, such as Sun Microsystems and Cerner.
- 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.
In 1973, he joined the electronics company Ampex, where he met future partners Ed Oates and Bob Miner. Three years later, Ellison moved to Precision Instruments, serving as the company’s vice president of research and development. A surge in global billionaire emigration has benefited the UAE, which has rapidly become one of the chosen countries in the great wealth transfer, according to UBS. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language. It is also behind the construction of the Burj Khalifa’s exterior cladding, the world’s tallest building.
Naguib Sawiris & family
Also managing director and vice-chairman of the healthcare and education investment company, Amanat Holdings. Bavaguthu Raghuram Shetty, the founder and acquirer of the United Arab Emirates companies accommodating Abu-Dhabi based NMC Health, BRS Ventures, Neopharma and Finablr. B.R Shetty is an Indian-born businessman who is counted among the top businessmen in Dubai. However, many of these billionaire family businesses are home-grown who took advantage of the local business-friendly legislation and environment and made their fortunes by setting up their conglomerates. Hussain Sajwani is a self-made man who built his company in the real estate industry. It’s since grown into one of the leading companies in the sector, having orchestrated the development of multiple large-scale, luxury properties and projects across both Europe and the UAE.
UAE: ADIO, Abu Dhabi Chamber partner to enhance emirate’s business ecosystem
The UAE-based Indian billionaire M.A Yusuff Ali achieved his wealth as the head of LuLu Group International, an Indian multinational that operates a chain of retail companies across the UAE. Though he might be best known for his political and monarchical identities, he made most of his money as a real-estate developer as well as his family’s robust holdings. It’s hard to establish a firm line between government assets and the Al Maktoum family’s wealth, but there’s no doubt that Al Maktoum helped make Dubai into the city it is now. Most of the figures on this list are businessmen, but Mohammad Bin Rashid Al Maktoum is known best for his political career and royal status.
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. In the listing of 2017 by Forbes, Lubna Khalid Ali Qasimi is the 36th most popular women in the world.
According to Forbes, the company generated $8.8 billion in revenues and $600 million in profits in 2017, making it easy to see how Al Futtaim and his family acquired his billionaire status. In addition to holding the franchise right to IKEA stores in UAE, Qatar, Egypt, and Oman, the company is also the exclusive distributor of several major car brands, including Toyota, Lexus, and Hino in the UAE. Emirati billionaire Abdulla richest man in dubai Al Futtaim earned his billions as the owner of Al-Futtaim Group, a large conglomerate that operates across the automotive, electronics, insurance, services, real estate, and retail sectors. Globally, there are 2,470 billionaires from 67 countries and from 1,931 companies.