Top 10 Richest People in UAE 2023
The United Arab Emirates is a country that is located on the Arabian Peninsula. It also has a coastline along the Persian Gulf and Oman Sea. This makes it one of the richest countries in the world because of its location near major trade routes, as well as its natural resources such as oil, natural gas, and uranium deposits.
Dubai is one of the most technologically advanced and prosperous cities in the world. The Emirate has a population of 2 million people, with an average daily income of $59,000 USD.
Dubai is one of the richest cities in the world. In fact, it has been ranked as the 2nd wealthiest city on earth behind London. It’s not just Dubai that is so prosperous; UAE (United Arab Emirates) is also a very wealthy country overall with Abu Dhabi and Sharjah ranking at number 10 and 11 respectively for highest GDP per capita in the world.
There are many different factors that contribute to the rise of a person’s wealth. One thing is for sure, Dubai has been one of the most prosperous places in the world with its booming economy and high standards of living. In this blog post, we will examine some of the richest people in Dubai who have contributed to making it what it is today.
Top 10 Richest People in Dubai 2023
Here are the Top 10 Richest People in Dubai 2023 (UAE):
- Saif Al Ghurair – Net Worth 2023 – $1.7 Billion
- Hussain Sajwani – Net Worth 2023 – $2.1 billion
- Abdulla Futtaim – Net Worth 2023 – $2.5 billion
- Sunny Varkey – Net Worth 2023 – $2.6 billion
- B.R. Shetty – Net Worth 2023 – $2.6 billion
- Micky Jagtiani – Net Worth 2023 – $3.1 billion
- A Yusuff Ali – Net Worth 2023 – $3.7 billion
- Ravi Pillai – Net Worth 2023 – $4.2 billion
- Abdulla bin Ahmad Al Ghurair – Net Worth 2023 – $4.9 billion
- Majid Al Futtaim – Net Worth 2023 – $6.2 billion
10. Saif Al Ghurair Net worth 2023- $1.7 Billion
Saif Al Ghurair is the founder of one of UAE’s most successful companies, Mashreq Bank. The bank was founded in 1961 and has a customer base that exceeds 500,000 people. Mr Al Ghurair also owns major stakes in property developer Emaar Properties – which he helped launch with Mohammed bin Rashid Al Maktoum.
Saif Al Ghurair is one of the wealthiest people in Dubai because he built up a major company that has grown exponentially. He is one of the Top 10 Richest People in Dubai 2023.
9. Hussain Sajwani Net worth 2023- $2.1 billion
Hussain Sajwani is the founder of Damac Properties. He and his company have built thousands of luxury villas in Dubai since 2002, with most located in Dubailand – a new city that spans an area twice the size of New York City.
The success story of Hussain Saajwani started when he left school at the age of fourteen to take up work as a car mechanic, and was eventually recruited by British Aircraft Corporation. Saajwani studied for an MBA in the evenings before returning to Dubai in 1974 with $200 that he had saved from his job at Gulf Helicopters.
Saajwani’s company has planned projects worth about US$50 billion as of 2014.
8. Abdulla Futtaim Net worth 2023- $2.5 billion
Abdulla Futtaim is the founder of Carrefour UAE, a joint venture between Al-Futtaim and French retailer Groupe Casino. He is one of the Richest People in Dubai 2023.
Abdullah has been an advocate for free trade since his childhood in Yemen when he sold tea to help buy food during periods of drought. He started trading at age nine with 50 kilograms of ground coffee, and when he was just 13 years old he had already sold a house.
Abdulla’s company is the largest retailer in Africa with over 250 hypermarkets, shopping centers, department stores and outlets across 18 countries on the continent.
Futtaim says his goal is to transform Carrefour into “a pan-African.
7. Sunny Varkey Net worth 2023- $2.6 billion
Sunny Varkey is the founder of GEMS Education, an international education company.
Varkey’s family moved to Dubai when he was just three years old and Sunny attended The American University in Cairo for his undergraduate degree before getting a Master’s from Indiana State University.
In 2001, at age 29, Varkey founded GEMS as a “not-for-profit” company.
Varkey’s son is the founder of The Varkey Foundation, which he launched with a $200 million grant from his father as an effort to fight for universal education and lifelong learning opportunities around the world. He is one of the Top 10 Richest People in Dubai 2023.
The foundation aims to improve quality of life in over 50 countries by investing funds into projects that will give children better options than they currently have.
In 2014, Varkey’s son announced that he would be giving away $16 million in scholarships and prizes to 16 exceptional students from developing countries over the course of four years through The Varkey Foundation Scholars Program.
Varkey is married with two sons and lives in Dubai, UAE.
6. B.R. Shetty Net worth 2023- $2.6 billion
B.R. Shetty is the founder and chairman of NMC Health. He founded the company in 2001, when he purchased a major stake in two hospitals to create one of India’s first private healthcare providers.
In 2010, Shetty was awarded an honorary doctorate degree by Mount Sinai School of Medicine for his efforts towards improving public health care services throughout Africa. He is one of the Richest People in Dubai 2023.
Shetty is a native of Mangalore, Karnataka. In October 2013, Shetty pledged a $20 million donation to the American University in Dubai.
He was awarded with an honorary degree from Qatar University for his outstanding achievements and contributions towards cultivating world-class health care facilities all over India.
5. Micky Jagtiani Net worth 2023- $3.1 billion
Micky Jagtiani is a Dubai-based Indian billionaire who owns the Landmark Group. He founded the company in 1978 and operates it as its chairman. In 2003, he was awarded an honorary doctorate degree from Siena College for his outstanding accomplishments in international business and entrepreneurship which has led to many new jobs being created locally.
4. M.A Yusuff Ali Net worth 2023- $3.7 billion
M.A Yusuff Ali is an Indian billionaire and retail magnate who founded the Lulu Group in 1978 and serves as its chairman. He has been awarded with many awards for his business accomplishments, including a Gold Medal from The Institute of Directors UK in 2008. He is one of the Top 10 Richest People in Dubai 2023.
3. Ravi Pillai Net worth 2023- $4.2 billion
Ravi Pillai is an Indian billionaire who founded the RP Group in 1979. He has been awarded with many awards and accolades, including a Lifetime Achievement Award from The Asian Awards in 2009 and he was also named Entrepreneur of the Year by Ernst & Young UK.
Ravi Pillai is the most successful self-made Indian entrepreneur of his generation. He is one of the Richest People in Dubai 2023.
2. Abdulla bin Ahmad Al Ghurair Net worth 2023- $4.9 billion
Abdulla bin Ahmad Al Ghurair is the Chairman of Mashreq Bank, one of the largest and most profitable banks in the Middle East. He also serves as a member on the Board of Trustees at The Arab Monetary Fund. He is one of the Top 10 Richest People in Dubai 2023.
1. Majid Al Futtaim Net worth 2023- $6.2 billion
Majid Al Futtaim is the founder and chairman of Majid Al Futtaim Group, a multi-billion dollar conglomerate with investments in real estate development, car distribution, entertainment and leisure. Majid Al Futtaim Group is the largest privately-owned company in the United Arab Emirates.
Majid Al Futtaim has been recognized and awarded with various accolades for his contributions to entrepreneurship, innovation and philanthropy throughout his life. He was honoured with The Order of Zayed medal by Sheikh Khalifa bin Zayed, President of UAE; a Lifetime Achievement Award from the Arabian Business Awards; The Leader of Tomorrow Award by Forbes Middle East and was named as a Young Global Leader by World Economic Forum.
Majid Al Futtaim has a net worth of $6.2 billion, according to Forbes Billionaires List.
The wealthiest people in Dubai come from a variety of backgrounds. They are not all oil tycoons, as you may believe. Some have made their fortunes through family businesses and others were able to make it big by being at the right place at the right time. There is no one way to get rich in this city-state, but there are many ways that work for different individuals who live here or visit on vacation!