Dubai - UAE’s billionaires have made their money in real estate, retail, and auto sectors, among others.
Published: Mon 9 Oct 2017, 2:47 PM
Of the hundreds ranked in Forbes' annual list of the world's billionaires, five are from the United Arab Emirates. These five businessmen have a combined net worth of $27.3 billion (Dh100.3b), according to the list.
The list, which ranks the richest people every year, once again begins with Microsoft's Bill Gates and Berkshire Hathaway's Warren Buffett at the first and second spots, respectively. Gates has a net worth of $86 billion, while Buffett is close behind at $75.6 billion.
On the third spot is Amazon.com's Jeff Bezos, with a net worth of $72.8 billion.
Going back to the UAE list, businessman Majid Al Futtaim sits on the No. 1 spot with a net worth of $10.6 billion, while Abdulla bin Ahmad Al Ghurair follows at No. 2 with $6.8 billion.
Here's the complete list:
Majid Al Futtaim
Net worth: $10.6 billion (Dh38.9 billion approx.)
Source of wealth: Real estate, retail
Global Rank: 125
You know him for: Majid Al Futtaim owns the Dubai-based holding company with his namesake. The group operates shopping malls such as Mall of the Emirates and the many City Centre malls that dot the country. They are also the exclusive franchisers of Carrefour supermarkets.
Abdulla bin Ahmad Al Ghurair
Net worth: $6.8 billion (Dh24.9 billion approx.)
Source of wealth: Diversified
Global Rank: 202
You know him for: Founding Mashreq Bank in 1967. He is the bank's chairman and his son is the CEO. He also has a brother who is a fellow billionaire - Saif Al Ghurair
Abdulla Al Futtaim
Net worth: $4.1 billion (Dh15 billion)
Source of wealth: Auto dealers, investments
Global Rank: 427
You know him for: Exclusive distributor of Toyota and Honda vehicles in the UAE. His conglomerate, the Al Futtaim group also owns Dubai Festival City and Orient Insurance Co - one of the largest insurance companies in the country.
Hussain Sajwani
Net worth: $3.7 billion (Dh13 billion)
Source of wealth: Real estate
Global Rank: 501
You know him for: Founder of residential real estate developer Damac Properties. You can see many of the company's luxury projects and structures dotting the Dubai skyline.
Saif Al Ghurair
Net worth: $2.1 billion (Dh7.7 billion)
Source of wealth: Diversified
Global Rank: 973
You know him for: Being the former chairman of Al Ghurair Group. He and his brother Abdulla are the billionaire scions of an old Dubai merchant family. He owns nearly 40% of Mashreq Bank.
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