15 Richest People in the UAE

The United Arab Emirates is a country located in the southeastern region of the Arabian Peninsula. The country has a small population when compared to its neighbors, but it has a very robust economy. The country is one of the most important hubs for trade in the Middle East, and the richest men in the UAE are largely responsible. The country’s economy is diversified, with sectors such as finance, tourism, and construction contributing greatly.

The UAE has long been a hub for the world’s wealthiest men, who have come to the country to establish businesses and make investments. However, in recent years, these business magnates have started to take advantage of the UAE’s liberal visa policies to obtain residency visas for themselves and their families. This has led to a significant increase in the number of ultra-wealthy individuals residing in the UAE.

In recent years, the number of millionaire households in the UAE has increased by 10 percent. The majority of these millionaires are from Saudi Arabia, followed by Kuwait, Qatar, and the United Arab Emirates.

The UAE is a popular destination for rich people worldwide because of its tax-free status and luxurious lifestyle. In addition, the country’s stable political environment and thriving economy make it an attractive place to live and work.

15 Richest People in The UAE

1. Khalifa Bin Zayed Al-Nahyan

Khalifa bin Zayed Al-Nahyan, net worth $20bn, is the President of the United Arab Emirates and Emir of Abu Dhabi. He succeeded his father, Zayed bin Sultan Al Nahyan, as Emir of Abu Dhabi on November 2nd, 2004, and became President of the UAE on the 3rd January 2006

And is also Chairman of the Abu Dhabi Investment Authority. He has used his wealth to help build up Abu Dhabi into a modern metropolis with skyscrapers, luxury hotels, and a thriving financial center. Khalifa has also been generous in using his riches to help other Arab countries, such as donating $2 billion to Egypt after the 2011 revolution.

2. Pavel Durov

This Russian-born entrepreneur is best known as the founder of the social networking site VK. With an estimated net worth of $15.1 billion.

Durov was born in Saint Petersburg, Russia in 1984. He studied philosophy at St. Petersburg State University and computer science at Moscow State University. He dropped out of both universities to pursue his entrepreneurial dreams.

In 2006, Durov founded VK, which is Russia’s largest social networking site. He served as the company’s CEO until 2014 when he was forced to resign due to pressure from the Russian government.

In 2015, Durov moved to Dubai and launched Telegram, a messaging app that has become popular among users who value privacy and security. Telegram has an estimated 200 million users and is valued at $1.7 billion.

3. Christopher Chandler

Christopher Chandler is a business tycoon and investor who has a net worth of $8.17 billion. He is the co-founder of an investment firm, Legatum, and has made his fortune through investments in a range of industries. He is also a philanthropist and has donated millions to good causes. Christopher Chandler is a truly remarkable man and an inspiration to us all.

Chandler was born in Wellington, New Zealand. He attended the University of Canterbury, earning a Bachelor of Arts degree in Economics and History. He later moved to London where he worked as a stockbroker and financial analyst.

In 1986, Chandler co-founded the investment company Legatum with his brother Richard.

Headquartered of The company is in Dubai, United Arab Emirates. Legatum specializes in private equity investments in emerging markets.

4. M.A Yusuff Ali

He is the chairman and managing director of Lulu Group International, which has interests in retail, real estate, hospitality, and healthcare. He is also a philanthropist and has donated millions of dollars to charity. Mr. Yusuff Ali is the owner of Lulu Group, which has a turnover of $5.7 billion. The group employs over 45,000 people and has a presence in 31 countries. Its flagship store is in Abu Dhabi, where it generates annual sales of $1 billion. The Lulu Group has interests in retail, real estate, hospitality, and healthcare. Mr. Yusuff Ali is also a generous philanthropist and has donated millions of dollars to charitable causes over the years.

5. Majid Al Futtaim

Al Futtaim’s net worth was estimated at $4.3 billion. Majid Al Futtaim is also among the UAE’s richest men who was died in December 2021.

Al Futtaim founded his conglomerate in 1992 with a focus on retail and real estate development. The company has since expanded into other sectors, including hospitality and leisure.

Al Futtaim was also a major philanthropist, donating millions of dollars to causes such as education and healthcare.

His death comes as a shock to the business community in the UAE and will likely have a significant impact on the country’s economy.

6. B.R Shetty

B.R Shetty is one of the richest people in the United Arab Emirates (UAE), with an estimated net worth of $3.5 billion. The Indian billionaire entrepreneur is the founder and chairman of Abu Dhabi-based NMC Healthcare, which is one of the largest private healthcare providers in the UAE.

Shetty has also invested in a number of other businesses in the UAE, including real estate, hospitality, and education. He is a major sponsor of the Abu Dhabi T10 cricket league and has donated millions of dollars to charitable causes in both India and the UAE.

7. Micky Jagtiani

Jagtiani was born in India and moved to London at the age of 18 to start a new life. He worked various odd jobs before landing a job as a taxi driver. It was during this time that he met his future wife, Renuka. The couple relocated to Bahrain in 1971, and then to Dubai in 1973.

In Dubai, Jagtiani started his own business selling watches out of the trunk of his car. He soon expanded into other businesses, including retail, hospitality, and healthcare. Today, his conglomerate – the Landmark Group – is worth an estimated $3 billion.

8. Joy Alukkas

Joy Alukkas is an Indian businessman and the chairman of Joy Alukkas Group, a multinational company with interests in jewelry, fashion, media, and hospitality. He was born in Kerala, India, and moved to the United Arab Emirates in 1973 to start his own business. In 2018, he was ranked by Forbes as one of the top Indian leaders in the Middle East with a net worth of 2 billion dollars.

Alukkas is known for his commitment to quality and customer service, which has led to his success in the UAE. He has received numerous awards for his work, including the Dubai Quality Appreciation Award and the Indian Business Leader Award. In addition to his business ventures, Alukkas is also active in philanthropy and supports various charities in the UAE. Now he has a net worth of about $ 3bn.

9. Abdulla Bin Ahmad Al Ghurair

Abdulla bin Ahmad Al Ghurair is a UAE businessman and the chairman of Mashreq Bank. He has an estimated net worth of $2.9 billion. Al Ghurair is one of the richest men in the United Arab Emirates and has been ranked by Forbes as the 99th wealthiest billionaire in the world.

Al Ghurair’s wealth comes from his family’s conglomerate, which includes interests in banking, steel, packaging, and real estate. The conglomerate was founded by Al Ghurair’s father in 1960 and is now one of the largest businesses in the UAE.

10. Hussain Sajwani

Hussain Sajwani is also at the top of the list in the United Arab Emirates with a net worth of $2.7 billion. He is the founder and chairman of Damac Properties, a luxury real estate development company based in Dubai. Sajwani started his career as a contractor for the military before moving into the property development business. He has developed numerous high-end residential and commercial properties in Dubai, including the Trump International Golf Club Dubai.

11. Abdulla Al Futtaim

Abdulla Al Futtaim is a businessman from the United Arab Emirates with a net worth of 2.4 billion USD. Abdulla Al Futtaim was born in Dubai in 1955, into a wealthy family. His father, Saeed, was a successful businessman who founded the Al-Futtaim Group in 1954. The group is one of the largest conglomerates in the Middle East, with interests in retail, automotive, electronics, insurance, and real estate.

12. Sunil Vaswani

Sunil Vaswani is a billionaire businessman from the United Arab Emirates with a net worth of $2.3 billion. He is the chairman and CEO of the Stallion Group, one of the country’s largest privately held conglomerates.

Vaswani has a diverse portfolio of businesses, including real estate, construction, hospitality, and retail. He has been instrumental in developing some of Dubai’s most iconic landmarks, such as the Burj Al Arab and The Palm Jumeirah. Vaswani is a generous philanthropist and has donated millions of dollars to charitable causes over the years. He is also an active supporter of arts and culture in the UAE.

13. Saeed Bin Butti Al Qebaisi

Saeed Bin Butti Al Qebaisi is an Emirati billionaire and member of the royal family of Abu Dhabi. He has a net worth of $2.2 billion, making him one of the richest men in the United Arab Emirates.

Al Qebaisi was born into a wealthy family and received his early education in Abu Dhabi. He went on to study business administration at the University of Arizona in the United States. After graduation, he returned to Abu Dhabi and began working in his family’s business.

Al Qebaisi’s wealth comes from his oil, gas, and real estate investments. He is also the chairman of a number of companies, including Dolphin Energy and Noor Bank. In addition to his business interests, Al Qebaisi is also a philanthropist and supports a number of charitable causes.

14. Raghuvinder Kataria

Raghuvinder Kataria is an Indian-born entrepreneur who has amassed a fortune of $2.1 billion through his business dealings in the United Arab Emirates. Kataria was born in India and moved to the UAE in the early 1990s. Before moving into property development, he started his business career as a moneylender.

Kataria’s businesses have been extremely successful, and he is now one of the richest men in the UAE. His net worth is estimated to be $2.1 billion. Kataria’s success is a great example of what can be achieved by hard work and determination. He is proof that anyone can make it big in business, regardless of their background or country of origin.

15. Khalaf AL Habtoor AND Family

Khalaf Al Habtoor is a Dubai-based billionaire and the chairman of the Al Habtoor Group. The group has interests in construction, hospitality, automotive, and education. His net worth is $2 billion.

Al Habtoor’s father, Hussain Al Habtoor, founded the group in 1970 with just one company. Today, the group consists of over 40 companies with operations in over 15 countries across the globe.

Conclusion

The UAE is home to some of the richest people in the world. These individuals have made their fortunes through a variety of means, including oil, gas, real estate, and investments. While the UAE may be best known for its oil and gas reserves, it is clear that there is much more to this country than meets the eye. For those who are looking to make their own fortune, the UAE is definitely worth considering as a place to do business.