Dubai may only be small (3,302,664 residents at the last count), but it has an almost unfair number of citizens with a ten-figure fortune. According to the latest roundup, a fair share of the richest people in the world call the city their home- not surprising really, given that Dubai is the second most expensive city in the region and the 20th most expensive in the world. Here, we take a look at the top ten richest people in Dubai and discover the secrets to their wealth.
10. Saif Al Ghurair – Net worth: $1.7 Billion
As the 412th richest person in the world, Saif Al Ghurair heads up the Al Ghurair Group, one of the largest real estate and manufacturing companies in the UAE. His $1.7 billion net worth can also be attributed to his significant investments in Mashreq, the oldest privately held bank in the UA
5. Micky Jagtiani – Net worth: $3.1 Billion
Micky Jagtiani has well and truly put his early career as a London taxi driver behind him: since relocating to the UAE in 1973, Jagtiani’s fortunes have changed dramatically. After spending 10 years running a baby product shop in Bahrain, Jagtiani decided to expand operations by adding a further 6 shops to his name. After the start of the Gulf War, he made the decision to relocate to Dubai, founding a new corporation, the Landmark Group, in the process. Since then, the company has grown exponentially, with interests in everything from fashion, electronics, and furniture to budget hotels. With a net worth of $3.1B, Jagtiani is ranked by Forbes as the 478th richest person in the world, and the 5th richest in Dubai.
4. M.A Yusuff Ali – Net worth: $3.7 Billion
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. Under Ali’s leadership, the company has increased its operations extensively over the past few years, and now has interests in retail, food processing, and logistics. in addition to his business activities, Ali is a noted philanthropist, having invested heavily in India and contributed $2.6 million to recovery efforts when his home state of Kerala was hit by floods in 2018.