Post by: Raman Preet

The Wealthiest Individuals in Dubai: Who Are the Richest People in the UAE?

Dubai, one of the worlds' emirates, harbors some of the world's richest people because of its growing economy, extravagant lifestyles, and business-friendly surroundings. These include all kinds of people starting from real estate tycoons to technological enterprising and monarchy families. Within this list is made up by men who play important roles towards making Dubai to undergo the various turns of an economy. Considering these, for an article I settle on richest persons in Dubai sources of amassing their richness as well contribution to the well in the well economies of the United Arab Emirate.

1. Majid Al Futtaim – Retail and Real Estate Baron

Majid Al Futtaim Group was founded by Majid Al Futtaim, one of the richest businessmen in Dubai, a leading conglomerate in retail, real estate, and entertainment. His company operates shopping malls, including the world-famous Mall of the Emirates, Carrefour supermarkets, and other leisure establishments all over the region. Before he passed away in 2021, his net worth was approximately $6.1 billion, placing him at one of the top rich businessmen in Dubai.

2. Hussain Sajwani – Chairman, DAMAC Properties

Hussain Sajwani is the founder and chairman of the luxury real estate development company, DAMAC Properties. He is very good at luxury real estate developments and transformed the skyline of Dubai by constructing some of the high-end residential, commercial, and hospitality projects. DAMAC, under his stewardship, worked with brands like Versace, Bugatti, and Paramount Hotels, among others. The estimated net worth is $2.7 billion.

3. Abdulla bin Ahmad Al Ghurair & Family - Banking and Industrial Giant

The Al Ghurair family is one of the richest families in the UAE. Their wealth includes banking, real estate, and manufacturing. Abdulla bin Ahmad Al Ghurair is the founder of Mashreq Bank, one of the leading financial institutions in the UAE. The family also has investments in food production, retail, and industrial sectors. Their estimated net worth is over $4 billion.

4. Pavel Durov: Tech billionaire and the creator of Telegram

Pavel Durov, the founder of Telegram, is one of the most known billionaires in Dubai. He came from Russia but after leaving that country, Durov ended up in Dubai, where he still runs the world's largest messaging app with more than 700 million users. His estimated net worth is around $15.5 billion, making him one of the richest people in Dubai with strong influence in the global tech industry.

5. Micky Jagtiani – Retail Tycoon of Landmark Group

Late Micky Jagtiani was an Indian-born businessman who founded the Landmark Group, a retail behemoth operating in fashion, hospitality, and electronics. His company owns such great brands as Centrepoint, Babyshop, Home Centre, and Max Fashion, dominating the retail business in the Middle East. His estimated net worth, at the time of death in 2023, was around $4.5 billion.

6. Mohammed Alabbar-founder of Emaar Properties

He is the owner of Emaar Properties, which just so owns such iconic establishments as Burj Khalifa, Dubai Mall, and Dubai Marina. He played a big part in transforming Dubai into a luxury brand on the world scale. He has never announced his personal net worth, but the valuation of his company in the market is on bills of dollars, so he is one of the most influential and rich people in Dubai.

7. Sheikh Mohammed bin Rashid Al Maktoum - The Ruler of Dubai

Sheikh Mohammed bin Rashid Al Maktoum is one of the richest royalty in the world. He is the Vice President and Prime Minister of the United Arab Emirates, who has made the city of Dubai a great business and tourism hub. He is estimated to hold more than $14 billion in wealth mainly through investments in different sectors and real estate as well as government wealth.

8. Rizwan Sajan Founder of Danube Group

Danube Group is headed by its chairman, Rizwan Sajan, who is a national of India and is currently based in Dubai. Danube Group is the biggest company in building materials and real estate. Rizwan Sajan started off as a salesman in Dubai but went ahead to establish Danube in 1993. Danube has developed into various divisions that range from home furnishings and real estate and construction materials. His estimated net worth is over $2 billion and continues to contribute to the economy of Dubai by implementing innovative business strategies and big real estate projects.

How do the richest people in Dubai earn their money?

The richest individuals in Dubai are known to build their wealth in various industries.

• Real Estate & Construction: For others, like Hussain Sajwani and Mohammed Alabbar, real estate would be the most significant source of wealth.
• Retail & Hospitality: Micky Jagtiani and Majid Al Futtaim create multinational retail businesses.
• Technology & Finance: The medium finds application by such technology entrepreneurs as Pavel Durov in raising a couple of billions; the financial sector is dominated by a group of banking tycoons like Abdulla bin Ahmad Al Ghurair.
• Royal Investments: The ruling family of Dubai has invested heavily in real estate, infrastructure, and global partnerships to build immense wealth.

Summary

Dubai is home to some of the richest people in the world, spanning industries like real estate, retail, technology, and finance. This article highlights key billionaires, including Sheikh Mohammed bin Rashid Al Maktoum, Pavel Durov, Rizwan Sajan, and Majid Al Futtaim, who have contributed significantly to Dubai’s economy and growth.

Disclaimer

This article is published by DXB News Network for informational purposes only. The net worth and financial data mentioned are based on publicly available sources and estimates, which may vary over time. Readers are encouraged to verify details through official sources before making any financial conclusions.

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