Richest Emiratis by Net Worth 2023
Statistics show that the average person in the United Arab Emirates has approximately $99,000 private wealth. The UAE ranks as the third-richest country in the world, with the bulk of its revenue from producing petroleum-related goods. It is widely believed that the Emirate is a place of financial exploits where wishful financial thinking can become realities. Here is the net worth of the richest billionaires in Dubai’s four richest Emiratis.
Abdulla Al Futtaim
Abdulla Al Futtaim is a businessman and the owner of the Al Futtaim Group. The Group has been named one of the most progressive groups outside of Dubai. As a citizen of Dubai, the Emirati billionaire established the Al Futtaim group, a retail, automotive, and real estate company with more than 65 branches and 20,000 employees in the Middle East. The billionaire could amass his wealth primarily by operating in the automotive field. He is worth about USD 2.4 billion. Currently, Abdulla Al Futtaim’s son, Omar Al Futtaim, has taken up the reins as the CEO and Vice President of the Al-Futtaim Group and private company
Hussain Sajawani is the chairman and founder of Damac Properties, a luxury real estate company development. The Emirati is one of the richest Emiratis in Dubai, worth about USD 2.7 billion, which he amassed mainly by dealing in luxury real estate development. This growth is quite surprising, as the billionaire started in the food industry by running a catering service business before he set out on the path to real estate. One of the significant values of Hussain Sajawani is his staunch belief that success is a combination of luck and vision coupled with the initiative to seize opportunities when they arrive.
Ravi Pillai is a Dubai-resident Indian billionaire with a net worth of USD 2 billion. He is admired for his tenacity as he migrated from India to Saudi Arabia in 1978 to build his construction empire, RP group. He has managed to amass weight by stakes in real estate, hotels, and banks. As it stands, Ravi has business in the Middle East countries of Qatar and Bahrain. He is also very invested in the steel, oil, gas, and hospitality industries.
Coming in at a high net worth of about USD3.3 billion, the Indian-born but Dubai-based billionaire Micky Jagitani has built an empire for himself in the form of the Landmark group. The Group is geared towards retail ventures and has come a long way, having been built from scratch by Jagtiani. As expected, the Group has over 2,200 stores across four continents and 24 countries. Jagtiani is a shrewd businessman, and this is evident from his philosophy which supports the worldview that being a hands-on person and gunning for what you want is the way to be successful in business.
These billionaires are not to brag about the influx of billionaires in Emirati; the net worth of billionaires in Dubai is a testament to hard work and inspiration of tenacity to everyone seeking to build something from nothing. If there is a common theme about these men, it would be that they found Dubai as a land of opportunities where anything is possible. Notably, some had to move their failed business in other countries to the Emirati to succeed. Indeed, one can see Dubai as a new silicon valley someday, only for business and finance.