Top 25 Richest People in Dubai 2023

The study analyzes the number of hotels, restaurants and luxury fashion houses in each city, with Paris in the first place, followed by London second, then Tokyo in third place in terms of luxury. The city has over 188 luxury locations, while it ranked highest in terms of the number of five-star hotels. The study also indicated that the city has 112 luxury hotel complexes, including the 7-star Burj Al Arab, Palazzo Versace Dubai and the One & Only The Palm. Dubai scores highly for retail, with 76 international designer stores. With a net worth of $2.4 Billion, Abdulla Futtaim is one of the richest people of Dubai.

He also owns the major stakes in Emaar Properties, which he co-founded with Mohammed bin Rashid Al Maktoum. Unfortunately, Saif Al Ghurair died on 27th August 2019 and was buried in Dubai in Qusais Cemetery. 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. Sunny Varkey, a non-residential Indian who is an excellent education philanthropist as well as an entrepreneur.

  • As of February 17, 2021, Al Ghurair was ranked as the 809th richest person in the world and the wealthiest person in the United Arab Emirates (UAE).
  • Yussuf Ali created LuLu Group International to manage a chain of retail online businesses all over the UAE.
  • 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.

Now, he is one of the richest people of Dubai, with a net worth of $5.2 Billion. His wife Renuka Jagtiani is now the CEO of Landmark Group, operating in the entertainment and retail industries. In recent years, Indian-based businessman has improved the rankings tremendously.

He is believed to be worth $3.1 billion and owns over 80 businesses in the UAE, Europe, and the United States. This is followed by the San Francisco Bay area with total wealth held amounting to $2.6tn. The area includes Silicon Valley, home to Big Tech companies including Apple, Google owner Alphabet and Facebook.

Founder – Dubai Polo Gold Cup

He worked for some major industrial houses such as Cochin Refineries, Hindustan Newsprint Limited, and Chemicals Travancore Limited. Hussain Sahwani is an Emirati billionaire businessman and the CEO of DAMAC Properties, which is a real estate development company. As the 412th richest person worldwide, Saif Al Ghurair has a net worth of $1.7 billion, which can be greatly attributed to his several investments in different companies.

  • He then expanded into the financial services, advertising, pharmaceuticals, information technology, and retail business.
  • In 2022, his net worth is estimated to be $15.1 billion, making him the richest man in Dubai as of September 2022.
  • Here you see the world’s largest building, modern architectural designs, fantastic weather, and famous businessmen.

He also expanded his business from jewellery to other sectors like real estate, silk, exchange and fashion. In the listing of 2017 by Forbes, Lubna Khalid Ali Qasimi is the 36th most popular women in the world. Moreover, she was honoured as the Dame Commander of the Most Excellent Order of the British Empire in the year 2013. 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. 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.

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. In this article, we list the top 25 richest people in Dubai with a net worth above a billion USD. The richest and wealthiest people around the globe call Dubai their second home. The only female billionaires in the top 20 inherited their wealth, including Liliane Bettencourt, the heir to the L’Oreal empire, and Alice Walton, daughter of the Walmart founder, Sam Walton.

Chairman – Kataria Holdings

Shetty has been actively involved in advertising, hospitals, financial services, pharmaceuticals, retail, and information technology. In 1973, he was appointed as the country’s first medical representative and later launched the New Medical Centre Health in 1975. Shetty announced that he was building the first medical university in Abu Dhabi. B.R. Shetty is an Indian-born businessman who is the founder and a shareholder in several major companies, including; BRS Ventures, NMC Health, Finablr, and Neopharma, situated in the United Arab Emirates. According to Forbes, Bernard Arnault is the wealthiest man in the world.

Top YouTubers of India 2023

Saeed Bin Butti Al Qebaisi has an investment partnership with a prominent billionaire, Khalifa Bin Butti Al Muhairi. 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.

DAMAC Properties have built several large-scale, luxury properties, and projects in both Europe and the UAE. The company has consistently yielded profits for its investors and is currently regarded as one of the biggest property development and real estate companies in the Arab World. In this article, we have featured 10 of the richest people in Dubai for 2023.

Chairman – Centurion Investments

In 1967, Abdulla bin Ahmad Al Ghurair founded Mashreqbank, which has since grown into one of the leading banks in the United Arab Emirates. According to real-time billionaires data from Forbes, Elon Musk, a US citizen and the founder of Tesla and SpaceX, currently holds the title of the world’s wealthiest individual with a net worth of $250.5 billion. The report also highlights Pavel Durov as the richest man in Dubai, UAE, based on the same data.

Chairman – Stallion Group

Hussain Sajwani is the founder and current chairman of Damac Properties. He is an Emirati billionaire businessman born in 1953 who began his career in the food industry, providing dining services to the American military and Bechtel, a massive construction company. Sajwani is a billionaire businessman and the founder of DAMAC Properties, an investment company based in Dubai. He currently serves as CEO of both companies, but also owns shares in other companies such as Al Tayer Group and Crescent Group. Pavel Durov is the founder of Telegram, a popular messaging service.

He also has a mansion on Palm Jumeirah Island with an observatory at its highest point that is valued at $60 million dollars (which makes it one of Dubai’s most expensive homes). The Al-Futtaim Group also has huge investments in the furniture business; it has the franchise right to IKEA stores in UAE, Qatar, Egypt, and Oman. Sunny Varkey has received several awards for his achievements, and for his contribution to education. Sunny Varkey has built a different kind of empire; an educational empire.

He is a chairman of an umbrella business organization and the founder and trustee of the Varkey Foundations. He moved to Dubai in 1959, but for some reason, he returned to Kerala in the 4th grade and sold fruit from the side of the road to make some extra money. After this he pursued A-levels at Bembridge school in U.K.after this he came to Dubai and established an education system GEMS.

He launched DAMAC Properties in 2002, which has grown to be one of the largest property development firms in the Middle East. Since its establishment, the company has delivered more than 27,000 homes. Azad Moopen is the managing director and chairman of the healthcare alliance, Aster DM Healthcare in the Middle East and India. According to the 2018 Forbes list, Joy Alukkas ranked among the Top Indian Leaders in the Middle East.

The biggest gainer was Mark Zuckerberg, the Facebook boss whose wealth rose by $11.2 billion to give him a total net worth of $44.6 billion. Real estate tycoon Hussain Sajwani of Damac is the fifth top billionaire in the UAE followed in the sixth place by Abdulla Al Futtaim (549 globally), with his current wealth estimated at $3.1 billion. Ravi Pillai started his engineering contract business and was involved in several projects in India. After a while, he offshored his business to Dubai city and gained fortunes in the United Arab Emirates. Besides, he is one of the most recognized businessmen in India too.

In 2018, as the CEO of DICO International, he signed an international hospitality partnership with the famous global fashion house Roberto Cavalli Group to re-design the AYKON Hotels. In June 2021, Hussain Sajwani resigned as the Chairman of DAMAC Properties and agreed to privatize the company. Saif Ahmad Al Ghurair was an Emirati billionaire businessman and the founder of Mashreq Bank, one of the country’s most successful companies.

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