Business tycoons: The Emirates has a remarkable new history; However, the place has been established for thousands of years; it wasn’t until the discovery of oil in the 1960s that it became a magnet for the wealthy and famous worldwide.
The emirate also allows very comfortable tax laws to influence international business tycoons. So today, it’s the go-to place for anyone with a business goal and money to spend.
Majid al-Futtaim is the wealthiest man in the United Arab Emirates, with a fortune of $10.94 billion. His large company is commonly abbreviated as MAF, which has annual sales of over $10.6 billion and grows yearly.
MAF owns and manages 12 hotels and 22 shopping malls. Including the Mall of the Emirates in Dubai and Egypt in Cairo. The company operates in 13 countries, including the United Arab Emirates, Lebanon, Egypt, Saudi Arabia, Oman, Kuwait, Qatar, Jordan, Pakistan, Iraq, Armenia, and many more. Others. Unlike some of its competitors in the UAE, Futtaim focuses on entertainment such as cinemas and concerts; this diversification strengthens it to expand its portfolio to a new high.
Khalaf Al Habtoor Y Familia
The Al Habtoor family has a combined net worth of $7.2 billion. It increased by 91%. Mohammed Khalaf Al Habtoor is the son of a business tycoon, financier, and also Vice Chairman and CEO of Al Habtoor Group, one of the largest business conglomerates in the United Arab Emirates. He was born into one of the chief entrepreneurial families in the United Arab Emirates. Mohammed Al Habtoor managed the group’s diversification in the real estate, hotel, education, insurance, hotel, automotive, and also publishing sectors.
He was involved in the Al Habtoor group’s growth and the creation of several important companies. For example, Mohammed Al Habtoor oversaw the development of Al Habtoor City, Al Habtoor Polo Resort & Club, Al Habtoor Business Tower, and Waldorf Astoria Dubai Palm Jumeirah.
Abdulla Al Ghurair
Abdulla Al Ghurair is another of the wealthiest men in the UAE in 2020. The mega-millionaire founded Mashreq Bank in 1967, one of the largest banks in the UAE. He remains Chairman, and his son De he Abdul Aziz is Managing Director.
He is also the organizer of Al Ghurair. This UAE-based family conglomerate owns the largest grain mill in the UAE. A commodities trader, a water company, an animal feed manufacturer, hotels, apartments, and also a mall in Dubai.
He also owns shares in the National Cement Company, among many other companies, like every other billionaire on the list. Ghurair controls many companies in the emirate. His net worth is $6.8 billion. He is always respect in UAE, and his passion and hard work have made him one of the wealthiest men in the UAE. He positions third on the list of the richest men in the United Arab Emirates.
MA Yusuf Ali
The turnover of MA YUSUFFALI, owner of the Lulu group, increased by 14% to reach 5.2 billion dollars. Yusuf Ali MA is an Indian billionaire business tycoon in the United Arab Emirates. He is Chairman and CEO of LuLu Group International. Which owns the worldwide LuLu hypermarket chain and also LuLu International shopping mall. With annual sales of $7.4 billion, LuLu Group International has hired the most significant number of Indians outside India. According to Forbes, Yusuf Ali was ranked 21st richest Indian with a personal income of $5.2 billion and 270th most affluent in the world as of 2018.
According to Forbes Middle East, Yusuf Ali was rank No. 1 among the top 100 Indian business people in the Arab world in 2018. In 2013, Yusuf Ali acquired 4.99% of Thrissur-based Catholic Syrian Bank (CSB) and increased his 4.47% stake in Banco Federal, based in Aluva. In 2016, Yusuf Ali bought the Scotland Yard building in London. As of 2013, he had a 9.37% stake in Cochin International Airport. In addition, he has a 10% stake in the British trading company East India Company and a 40% stake in its delicatessen subsidiary for around $85 million.
Above all, Abdulla Futtaim is among the wealthiest business people in the United Arab Emirates. He built a multi-million dollar fortune in Durham by marketing Toyota cars. Franchising global brands like Zara IKEA, Toys R Us, and also Hertz, and founding malls like Dubai Festival City and Cairo Festival City.
His vast and successful AL FUTTAIM group works worldwide, including in Kenya, Japan, and Morocco. According to Forbes, the AL-Futtaim conglomerate was so big and successful that it could value up to 15% of all Dubai’s domestic products. His net worth is $4.1 billion, making him the 8th richest person in the United Arab Emirates. He ranks eighth on the list of Dubai’s wealthiest men.
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