Dubai, the city with the most innovative and luxurious development. The city may seem very small, but there lie more than 3,302,000 residents. Dubai is known as the second most expensive city in the Middle East and 20th in the world.
The richest and wealthiest people around the globe call Dubai their second home. There’s no doubt in this wording. The architecture and innovations of this city explain everything.
In this article, we list the top 25 richest people in Dubai with a net worth above a billion USD.
Sunny Varkey
Micky Jagtiani
M.A Yusuff Ali
Mohammed Khalaf Al Habtoor
Saif Al Ghurair
B.R Shetty
Shamsheer Vayalil
Saket Burman
Philip Day
Divyank Turakhia
Vinod Shantilal Shah Adani
Hussain Sajwani
Feroz Allana
Majid Al Futtaim
Ravi Pillai
Abdullah bin Ahmad Al Ghurair
Sunil Vaswani
Thaksin Shinawatra
Abdullah Al Futtaim
Raghuvinder Kataria
Lubna Khalid Ali Qasimi
Joy Alukkas
Saeed Bin Butti Al Qebaisi
Azad Moopen
Bernard Arnault
Sunny Varkey
Chairman – GEMS Education, Varkey Foundation
Net Worth – US $1.9 Billion
Sunny Varkey, a non-residential Indian who is an excellent education philanthropist as well as an entrepreneur. Sunny Varkey is the founder and chairman of GEMS Education, the management firm that is known for its global advisory and education. This is the largest organisation that is private for kindergarten to 12 standard schools. More than 52 schools are established under this organisation in 4 countries.
Moreover, Sunny Varkey is a UNESCO Goodwill Ambassador. By the records, he pledged to The Giving Pledge that he would donate half of his money to philanthropic issues throughout his life. He is also the trustee and founder of the very prominent Varkey Foundation.
Micky Jagtiani
Chairman – Landmark Group
Net Worth – US $3.0 Billion
Mukesh Wadhumal Jagtiani aka Micky Jagtiani is one of the top billionaire businessmen in Dubai. He was born in India and has an established UAE based business. He is the owner and chairman of Landmark Group, based in Dubai.
Micky Jagtiani is known for the remarkable Landmark retail stores. His business provides livelihood to more than 45000 people. There are more than 1000 stores of Landmark Group across the Middle East, Persian Gulf region and India.
M.A Yusuff Ali
Chairman – LuLu Group International
Net Worth – US $4.9 Billion
Yusuff Ali Musaliam Veettil Abdul Kader (M.A Yusuff Ali) is a very popular Indian billionaire and businessman. He is the managing director and chairman of LuLu Group International, the very popular Group of Industries that includes LuLu International Shopping Mall and LuLu Hypermarket chain across the world. LuLu Group International’s annual revenue is around US$7.4 billion.
M.A Yusuff Ali is ranked No. 1 according to Forbes among the top 100 businessmen in the Arab World in the list of 2018. Its LuLu Bolgatty International convention Centre that is situated on the Bolgatty Island is counted among the largest convention centres in South Asia.
Mohammed Khalaf Al Habtoor
Founder – Dubai Polo Gold Cup
Net Worth – US $1 Billion
The son of Khalad Al Habtoor, the investor, business tycoon, CEO and vice-chairman of the Al Habtoor Group. The Al Habtoor Group is one of the largest corporations around the UAE. Mohammed Khalaf Al Habtoor was born in one of the biggest business families in Dubai.
He looks after the diversification of Al Habtoor Group into insurance, hotels, real estate, automobile, hospitality, the publishing industry, and education. Mohammed Khalaf Al Habtoor is the founder of the Dubai Polo Gold Cup.
He has made Al Habtoor Group what it is now. He has also developed the Al Habtoor City.
Saif Al Ghurair
Chairman – Al Ghurair Group
Net Worth – US $1.7 Billion
Saif Al Ghurair is the chairman and head of the largest manufacturing and real estate companies in the Emirate, The Al Ghurair Group.
He is known for his tremendous investments that always bring profitable results. He has received his prosperity and wealth by investing in Mashreq, which is known as the oldest private bank in the United Arab Emirates.
B.R Shetty
Chairman – NMC Health and Finablr
Net Worth – US $3.15 Billion
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. Also, ranked as the 42nd richest person in 2020.
B.R Shetty began his career with his interest in hospitals and hospitality. He then expanded into the financial services, advertising, pharmaceuticals, information technology, and retail business.
Shamsheer Vayalil
Chairman – VPS Healthcare Group
Net Worth – US $1.4 Billion
The Indian radiologist and businessman, Shamsheer Vayalil Parambath is the founder, managing director and chairman of the VPS Healthcare Group. Also managing director and vice-chairman of the healthcare and education investment company, Amanat Holdings.
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. He was awarded the Pravasi Bharatiya Samman in the year 2014.
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Saket Burman
Chairman – Dabur International
Net Worth – US $1.6 Billion
The British billionaire, Saket Burman is a very prominent billionaire in Dubai, London and Delhi. He completed his education at the University of Wisconsin-Madison.
Saket Burman’s father Sidharth Burman died in 2015 when the Dabur (Indian consumer goods Company) inherited a stake of 12.4%. He is the chairman and director of the very famous Dabur International.
Philip Day
Chairman – Edinburgh Woollen Mill
Net Worth – $1.2 Billion
Philip Day, the British Billionaire who is the chairman and founder of The Edinburgh Woollen Mill Group with the high street retailers like Jaeger, Austin Reed, Peacocks, Jane Norman and many more.
According to the report of 2016 by Sunday Times Rich List, Philip Day estimated net worth was $1.2 Billion. He joined Edinburgh Woollen Mill after leaving his job at Aquascutum. He proved his worth to Edinburgh. And, brought great results.
Divyank Turakhia
Founder – Media.net
Net Worth – US $1.76 Billion
The 1982 born Indian business, computer programmer, serial entrepreneur, billionaire and investor, Divyank Turakhia is a very successful businessman in Dubai. He was ranked as the 95th richest man by Forbes. He has been awarded The ET Panache Trendsetter, by The Economic Times.
Divyank Turakhia is the founder of Media.net. Later, he sold it to a Chinese consortium in 2016 with a worth of $900 million. This deal is famous as the third-largest ad-tech deal ever. Divyank Turakhia is a self-made billionaire.
Vinod Shantilal Shah Adani
Chairman – Adani Group
Net worth – US$8.9 billion
The Indian businessman and head of Adani Group of Industries, Vinod Shantilal Shah Adani is the director of Trident Trade and Investment Private Ltd, Radiant Trade and Investment Private Ltd, Adani Power Pte Ltd, Venture Trade and Investment Private Ltd, Pride Trade and Investment Private Ltd, Adani Power (Overseas) Limited, Adani Global Limited, Adani Global FZE, Adani Enterprises Ltd, and Adani Bunkering Pte. Ltd.
Vinod Shantilal Shah Adani is the elder brother of Gautam Adani. Since 2016, the Adani Group has kept lowkey from the media reports because of the major issue of the offshore entities in the Panama Papers.
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Hussain Sajwani
Chairman – DAMAC Properties
Net worth – US$2.1 Billion
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.
Moreover, Hussain Sajwani has been honoured as the real estate business leader of the year at the Gulf Business Awards. Recently he has been ranked 962 among the world’s richest people.
Feroz Allana
Chairman – Allan Group
Net worth – US$4.3 Billion
Feroz Allana, the co-founder of the Allan Group which is well known for its production of the fastest moving consumer goods (FMCG). The headquarters of Allana Group is established in Sharjah, a neighbourhood of Dubai.
The Allan Group of Industries offers various products like oils, frozen foods and institutional services. It includes some incredibly popular brands like London Dairy, Al Baker, Tiffany, Noor, Khaleej, Igloo, Rahma and many others.
Majid Al Futtaim
Chairman – Majid Al Futtaim Holding (MAF)
Net worth – US$6.1 Billion
The richest ranked person in Dubai, Majid Al Futtaim is the chairman of the Majid Al Futtaim Holding (MAF), the entertainment and retail conglomerate. It originated in 1992 and soon grew into one of the largest companies across the UAE. Today, it includes more than 120 stores around North Africa, the Central Asia region and the Middle East.
Majid Al Futtaim Holdings turnover is around US$8.8 billion in revenue and made profit in 2017 up to US$600 million. It owns the exclusive rights to manage the franchises of AllSaints, Carrefour, Abercrombie & Fitch, and Lululemon Athletica.
Ravi Pillai
Chairman – RP Group
Net worth – US$4.1 Billion
After the labour strike held in Kerala that made the business shut down, Ravi Pillai decided to move to the United Arab Emirates. He began his career along with a local friend and within the two years of his business, it expanded into a new enterprise, Nasser S. Al Hajri Corporation (NSH).
Soon after the NSH launch, the company formed a billion dollar empire foundation, RP Group. According to the list of 2019, Ravi Pillai was ranked as the 529 richest people around the world and 3rd in Dubai.
Abdullah bin Ahmad Al Ghurair
Chairman – Mashreqbank
Net worth – US$4.9 Billion
Abdullah bin Ahmad Al Ghurair is the founder of one of the leading banks in the United Arab Emirates, Mashreqbank. His wealth can be easily estimated by the standard of the bank. He acts as the chairman meanwhile his son, Abdul Aziz holds the position of CEO.
Moreover, Abdullah bin Ahmad Al Ghurair holds many eponymous companies and mammoth corporations with the interest of real estate and food construction.
Sunil Vaswani
Chairman – Stallion Group
Net Worth – US$1.2 billion
The Indian-born Nigerian billionaire, Sunil Vaswani is the chairman of Stallion Group. Sunil Vaswani began his career at the age of 21, inherited through his father.
The headquarter of Stallion Group is established in Dubai with assorted interests in various fields like food, plastics, cars, packaging, steel manufacturers, commodities, port operations, technology and petrochemicals. The industry has expanded widely in the Middle East, Asia and Africa.
Sunil Vaswani shifted to UAE following the legal allegations and disputes with the government based on apparent duty evasions. This resulted in Sunil’s banishment. Later on further investigation, no such action was found therefore, Sunil Vaswani along with his family was granted the return.
Then in 2016, he raised his net worth to US$2 billion.
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Thaksin Shinawatra
Founder – Advanced Info Services and Shin Corporation
Net Worth – US$1.8 billion
Thaksin Shinawatra, a Thai businessman who is also a well-known politician and visiting professor. He served Thai in the department of Thai Police for 14 years (1973-1987). Then he was elected as the Prime Minister of Thailand for 5 years (2001-2006). But, with the abundance of power, in 2008 he was found guilty of corruption. That’s why now he is living in self-exile.
Thaksin Shinawatra is the founder of Advanced Info Service which is a mobile phone operator company and the Shin Corporation which is an IT and telecommunications alliance based company. This made him on the list of the richest people in Thailand.
Abdullah Al Futtaim
Chairman – Al-Futtaim Group
Net Worth – US$2.1 billion
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 Al Futtaim owns the nationality of Emirati with a net worth of 2.1 US billion dollars. He specialised in the field of retail and real estate, operations in the automotive industry. Abdullah Al Futtaim is the CEO of Al-Futtaim Private Company LLC.
Raghuvinder Kataria
Chairman – Kataria Holdings
Net Worth – US$1.3 billion
Raghuvinder Kataria is a British billionaire who has a well-established business in Dubai. He is famous for his interest in the telecommunications and property sectors. Raghuvinder Kataria is the chairman of Kataria Holdings.
Moreover, he began his career by working for International Computers Limited which made him the company’s European treasurer. Raghuvinder Kataria also formed the Thai telecoms operator Jasmine Telecom which was later incorporated with the Bharti Enterprises.
Lubna Khalid Ali Qasimi
Leader – Emirati Party and member of Sharjah
Net Worth – US$1-5 billion
The Emirati Politician and member of the ruling family of Sharjah, Lubna Khalid Ali Qasimi is one of the most powerful women in the world. Previously, she has served as the Minister of State for Tolerance, Minister of Economic and Planning of United Arab Emirates, and Minister of State for International Cooperation. Lubna Khalid Ali Qasimi is the first woman ever to serve as a minister in the United Arab Emirates.
She has graduated from the California State University, Chico with a bachelor’s in Computer Science. She completed her Executive MBA from the American University of Sharjah.
In the listing of 2017 by Forbes, Lubna Khalid Ali Qasimi is the 36th most popular women in the world. She won the ITP best Personal Achievement Award in 2000. Moreover, she was honoured as the Dame Commander of the Most Excellent Order of the British Empire in the year 2013.
Joy Alukkas
Chairman – Joyalukkas Jewellery
Net Worth – US$2 billion
Joy Alukkas is a prominent businessman born in Kerala, India. He is the founder, managing director, and chairman of Joyalukkas Jewellery, since 1987. Joyalukkas Jewellery is widely famous with more than 160 luxurious jewellery showrooms across 11 countries.
He also expanded his business from jewellery to other sectors like real estate, silk, exchange and fashion.
According to the 2018 Forbes list, Joy Alukkas ranked among the Top Indian Leaders in the Middle East. He was awarded the Dubai Quality Appreciation Award by the Prime Minister and Vice President of UAE, Mohammad Bin Rashid Al Maktoum. His net worth was estimated as US$2 billion in 2018 by Forbes.
Saeed Bin Butti Al Qebaisi
Chairman – Centurion Investments
Net Worth – US$2.2 billion
Saeed Bin Butti Al Qebaisi is one of the top 15 billionaires of Dubai. He is the chairman of an Abu-Dhabi firm, Centurion Investments that looks after the investments in money exchange, health care and retail. His wealthiest and most profitable stake is in NMC Health (a London-listed firm ). It runs several hospitals and clinics in many countries. It was founded by another billionaire, B.R Shetty.
Saeed Bin Butti Al Qebaisi has an investment partnership with a prominent billionaire, Khalifa Bin Butti Al Muhairi. This includes the joint stakes in UAE Exchange and Travelex.
Azad Moopen
Chairman – Aster DM Healthcare
Net Worth – US$1 billion
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. Azad Moopen won the Pravasi Bharatiya Samman award in 2010. Also, Padma Shri by the Indian government in 2011. He is ranked 6th among the top 100 Indian Leaders in UAE, by Forbes.
Azad Moopen is the managing director and chairman of the healthcare alliance, Aster DM Healthcare in the Middle East and India.
Bernard Arnault
Chairman – LVMH and Christian Dior SE
Net Worth – US$192 billion
Bernard Jean Étienne Arnault, the French Billionaire businessman, investor and art collector, is the chief executive and chairman of LVMB Moët Hennessy – Louis Vuitton SE which is the largest luxury goods company around the world.
Bernard Arnault is counted among the top billionaires of the UAE. According to Forbes, Bernard Arnault is the wealthiest man in the world. His estimated net worth is around US$192 billion.
Conclusion
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.
FAQs
Who is richest person in Dubai?
Pavel Durov is the richest person in the UAE and the youngest self-made billionaire in the region in 2021. He was named the richest UAE resident in 2021 by Forbes magazine with a wealth of $17.2 billion.
Who is the richest woman in Dubai?
Huda Kattan is known as the richest woman in Dubai. She is an American makeup artist, beauty blogger, and entrepreneur and is also the founder of the cosmetics line Huda Beauty.
Who is Dubai’s richest kid?
Rashid Belhassa is the richest kid in Dubai.
Who are the top 10 richest people in Dubai?
Here are the top 10 richest people in Dubai:
- Sunny Varkey
- Micket Jagtiani
- M.A Yusuff Ali
- Modhammed Khalaf Al Habtoo
- Saif Al Ghurair
- B.R Shetty
- Shamsheer Vayalil
- Saket Burman
- Philip Day
- Divyan Turakhia
What are the best businesses in Dubai for Indians?
Some of the best businesses in Dubai for Indians are associated with:
- E-Commerce
- Healthcare
- Construction
- Beauty
- Travel and Tourism
- Real Estate Agency
- Handyman Business
- Consultancy Service
Is Dubai the richest city in the world?
Dubai is one of the richest cities in the world, however, Abu Dhabi, the capital of UAE is the richest city in the world.
