Sunny Varkey is not only a savvy businessman, but he has also worked to promote better education around the world. Saeed Bin Butti Al Qebaisi is one of the top 15 billionaires of Dubai. He is the chairman of an Abu-Dhabi firm, Centurion Investments that looks after the investments in money exchange, health care and retail.

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He has developed richest man in dubai his wealth through his business ventures, starting as a simple employee of a construction firm. He made most of his wealth through the Al Habtoor Group, which started as an engineering firm in 1970. With all that wealth in one place, it’s natural to wonder who the richest person in Dubai is. Read on to discover who the richest man in Dubai is and how he made his billions of dollars.

In November 2023, FIVE Holdings purchased Pacha Group, which owns hotels and nightclubs in Ibiza, Spain, for $330 million. Joy Alukkas, originally the son of a jewelry store owner and a school dropout, ventured to the Middle East in 1987 to establish the family’s inaugural overseas store in Abu Dhabi. Subsequently, he branched out to establish his own brand, Joyalukkas, which has expanded to encompass 100 outlets throughout India and 60 internationally. While the exact net worths of individuals can fluctuate, here’s a spotlight on some of the richest people currently in Dubai.

Despite its relatively small size, the city is home to over 3.3 million people. Securing the bag is everyone’s dream, while getting a net worth of $30 million is another. It is no surprise that Hollywood stars like Fredrik Eklund will want to net millions and live lavish lifestyles….

Despite initial plans, Alukkas decided to delay the public listing of his jewelry business, attributing this decision to subdued conditions in the IPO market. Hussain Sajwani is a self-made man who built his company in the real estate industry. It’s since grown into one of the leading companies in the sector, having orchestrated the development of multiple large-scale, luxury properties and projects across both Europe and the UAE. Accordingly, the wealthy in Dubai have tons of wealth and there are multiple billionaires and even multi-billionaires who reflect the wealth of Dubai and the industries that make its economy so robust. It’s no wonder that New World Wealth has projected Dubai to become one of the world’s top 20 wealthiest cities by 2030.

Abdulla’s $4.9 million net worth is from his mammoth holding company focusing on food, construction, and real estate. Yusuf Ali Musaliam Veetil Abdul Kader, popularly known as Yusuff Ali M.A. He is a UAE-based Indian businessman and billionaire. According to Webbspy, Ali achieved his $3.7 billion net worth as the Managing Director and Chairman of Lulu Group International. Mukesh Wadhumal “Micky” Jagtiani is an Indian billionaire businessman who is the owner and chairman of Landmark Group.

He owned the Landmark Group, which specializes in retail, footwear, electronics, beauty products, and apparel. He and his brother Saif Ahmad Al Ghurair founded Mashreq bank, which is today one of the leading banks in the United Arab Emirates. 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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According to the 2018 Forbes list, Joy Alukkas ranked among the Top Indian Leaders in the Middle East. He was awarded the Dubai Quality Appreciation Award by the Prime Minister and Vice President of UAE, Mohammad Bin Rashid Al Maktoum. He also expanded his business from jewellery to other sectors like real estate, silk, exchange and fashion. Raghuvinder Kataria is a British billionaire who has a well-established business in Dubai. He is famous for his interest in the telecommunications and property sectors.

It is also behind the construction of the Burj Khalifa’s exterior cladding, the world’s tallest building. Abdulla Al Ghurair is the first Goodwill Ambassador for education in the Arab world since 2016. He is also a member of the Board of Trustees at The Arab Monetary Fund. He increased his net worth by earning a huge salary as the bank’s chairman but later stepped down in October 2019. His eldest son, Abdul Aziz, is the current CEO of the bank and chairman of Al Ghurair investment.

Lulu Group International began its operations as a family business venture and was later diversified to include the import and distribution of frozen commodities from the United States and Europe. In 2013, Lulu International Shopping Mall was opened, making it the group’s first retail venture in India and the largest shopping mall in India. 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 Middle East, Abdulla Futtaim is married, and his son, Omar Al Futtaim, is the current CEO of Al-Futtaim Private Company.

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1. Durov is known for being the founder of the Russian social networking service, VK, which is used around the world but primarily in Russia.
2. His eldest son, Abdul Aziz, is the current CEO of the bank and chairman of Al Ghurair investment.
3. Currently, Ali is in the top 500 of all billionaires and continues to invest time and energy into the retail industry.
4. He looks after the diversification of Al Habtoor Group into insurance, hotels, real estate, automobile, hospitality, the publishing industry, and education.
5. Abdulla Al Futtaim is the owner of Al Futtaim Group, a conglomerate now led by his son Omar, who serves as vice chairman and CEO.

Born to Indian expatriate teachers who settled in Dubai in 1959, Sunny Varkey leads GEMS Education, renowned as the largest operator of K-12 schools globally. In 2019, the private education firm welcomed CVC Capital Partners as a key investor. Managing the company’s operations are his sons, Dino and Jay, serving as CEO and group executive director, respectively. Additionally, Sunil Munjal, a member of the Indian Munjal family known for their involvement in the two-wheeler industry, holds a minority stake in GEMS. The founder of Mashreq bank, Dubai’s third-largest lender by assets that started in 1967, slipped to the second position.

Lulu Group International currently employs the largest number of Indians living outside India. In 2006, he started his large business investments in India by launching the Lulu Convention Centre. In 2013, Yusuff Ali bought 5% of the Catholic Syrian Bank (CSB) and about 5% of the Dhanlaxmi Bank.

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Thaksin Shinawatra is the founder of Advanced Info Service which is a mobile phone operator company and the Shin Corporation which is an IT and telecommunications alliance based company. Moreover, Abdullah bin Ahmad Al Ghurair holds many eponymous companies and mammoth corporations with the interest of real estate and food construction. Abdullah bin Ahmad Al Ghurair is the founder of one of the leading banks in the United Arab Emirates, Mashreqbank. He acts as the chairman meanwhile his son, Abdul Aziz holds the position of CEO. The richest ranked person in Dubai, Majid Al Futtaim is the chairman of the Majid Al Futtaim Holding (MAF), the entertainment and retail conglomerate. It originated in 1992 and soon grew into one of the largest companies across the UAE.

The businessman’s holding company has interests in food, construction and real estate. His bank had recently announced that it will be cutting the number of its branches over the next three years by half, as it shifts towards digital banking. 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 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.

Abdulla bin Ahmad Al Ghurair and family

Although Pavel Durov was not born in Dubai, he has become a resident of Dubai and a citizen of the UAE. He was born in Russia, but he spent much of his childhood in Italy before attending St. Petersburg State University, where he studied in the Philology Department. Durov is known for being the founder of the Russian social networking service, VK, which is used around the world but primarily in Russia. He worked with his VK co-founder and brother, Nikolai Durov, to create a messaging service, Telegram, and established an operational center in Dubai. Although focused in the UAE, Sajwani has worked with global partners, and in 2013, he worked with Donald Trump on two golf-course development projects in Dubai. Thus, Sajwani knows how to reach out to others in the industry and form relationships with people all around the world.