The Incredible Facts about the Crown Prince of Dubai-Sheikh Hamdan and a Look at the Richest Men there
6. M.A. Yusuff Ali- Networth of $2.5bn (Dh9.2bn)
Indian-born retail king of Abu Dhabi, MA Yusuff Ali controls the $5.8 billion (revenues) LuLu Group, which has 114 hypermarkets, supermarkets and grocery outlets, mostly in the Middle East. It has lately expanded into Malaysia and Indonesia where its ‘halal’ products are popular,” says his profile.
“Yusuff Ali, who hails from a village in the southern Indian state of Kerala, is pumping investments back home. He already has a LuLu mall and two Marriott hotels in the southern Indian city of Cochin where he maintains a 60,000-square- foot waterfront home. He’s now building a technology park called the Lulu Tech Park and a Grand Hyatt hotel,” it adds.
“Recently he announced that he will invest $435 million in the southern state of Telangana which will include a mall, hypermarket, food and meat processing unit and a convention centre. New toys include an Embraer Legacy 500 jet.
5. Abdulla Al Futtaim – Net worth: $2.8 Billion (Dh10.3 Billion)
Abdulla Al Futtaim is the owner of the Al Futtaim Group, which is the exclusive distributor of Toyota and Honda vehicles in the UAE. The company is run by his son Omar.
4. Saif Al Ghurair & family – Net worth: $3.4 Billion (Dh12.5 Billion)
Saif Al Ghurair is the former chairman of family holding company Al Ghurair Group, which has interests in steel, banking and plastics for food packaging.
3. Micky Jagtiani- Network: $5.2bn (Dh19bn)
Middle East retailing juggernaut, the Dubai-headquartered Landmark Group, was founded by Micky Jagtiani in 1973 with one store in Bahrain after his father and brother died. It generates $5 billion revenues annually from more than 1,900 stores across the Middle East, Africa and India,” Forbes states in Jagtiani’s profile.
“Landmark is stepping up expansion in fast food and restaurants through its food and beverage unit Foodmark, which has the Middle East franchise for Jamba Juice and Sweden’s Max Burger, among much else. After ending a 2-year alliance with France’s Groupe Auchan that operated 13 hypermarkets in India, Landmark teamed with Dutch retailer Spar. The privately held group, which wife Renuka helps him run, also has interests in hotels, healthcare, fitness gyms and confectionery,” it adds.
2. Majid Al Futtaim – Net worth: $6.2 Billion (Dh22.8 Billion)
This Dubai-based billionaire is the estranged brother of billionaire Abdulla Al Futtaim. Non-family members run his eponymous holding company, which operates malls and Carrefour hypermarkets across the Middle East, North Africa and Central Asia.
1. Abdulla bin Ahmad Al Ghurair & family – Net worth: $6.4 Billion (Dh 23.5 Billion)
Abdulla bin Ahmad Al Ghurair and his brother Saif Al Ghurair (who is also a billionaire) are scions of a prominent UAE business family. He founded the Mashreqbank in 1967. Today it is one of the nation’s top banks. Abdulla is the chairman of the bank and his son Abdul Aziz is the CEO.