UAE has the seventh largest oil reserve in the whole world. The first president of UAE saw the potential of the oil reserves and used the revenue to develop healthcare and education. Tourism has acted as a major source of income for UAE. Here is the list of the richest people in UAE and their source of income.
1. Abdulla Bin Ahmad Al Ghurair – $6.8 Billion
Abdulla founded one of UAE’s leading banks “Mashreqbank.” He is the head of the Al Ghurair Group. Al Ghurair Group oversees various divisions like including food, construction, and real estate.
2. Majid Al Futtaim – $6.2 Billion
Majid Al Futtaim is the brother of billionaire Abdulla Al Futtaim. He owns Majid Al Futtaim Group.
3. Micky Jagtiani – $3.4 Billion
Micky Jagtiani is an Indian billionaire. He owns a Dubai-based business firm, Landmark International. He started with a single store in Bahrain and since then there was no looking back.
4. Saif Al Ghurair – $2.5 Billion
Saif Al Ghurair is the CEO of one of leading firms of real estate, Al-Ghurair Group in Dubai. The Al-Ghurair Group is also a leading company in the manufacturing division.
5. Abdulla Al Futtaim – $2.5 Billion
Abdulla Al Futtiam owns the Al Futtaim Group. Al Futtaim Group is the only distributor of Toyota and Hyundai in UAE. His group also owns franchises for Ikea, Toys ‘R’ Us, and Marks & Spencer.
6. M.A Yusuf Ali – $2.5 Billion
He is the chairman and managing director of LuLu Group International that owns the LuLu Hypermarket chain worldwide and LuLu International Shopping Mall.
7. Ravi Pillai – $2.4 Billion
B. Ravi Pillai is a Dubai-based Indian billionaire businessman. He is the founder and chairman of the RP Group.
8. Sunny Varkey – $1.8 Billion
Sunny Varkey is a non-resident Indian, Dubai-based education entrepreneur and education philanthropist.
9. BR Shetty – $1.7 Billion
Bavaguthu Raghuram Shetty is an Indian-born businessman who is the founder and acquirer of a number of companies based in the United Arab Emirates, including Abu Dhabi-based NMC Health, Neopharma, BRS Ventures, and Finablr.
10. Azad Moopen – $1.1 Billion
Azad Moopen is an Indian healthcare entrepreneur, physician, and philanthropist. He is the developer of many healthcare facilities in Asia-Pacific. He is also the chairman and managing director of Aster DM Healthcare, a healthcare conglomerate in the Middle East and India founded in 1987.