Dubai is a city known for its luxurious lifestyle, where the wealthy come to indulge in the finest things in life. It’s no surprise that it is home to a significant number of billionaires. In this article, we’ll take a closer look at how many billionaires are there in Dubai.
Billionaires in Dubai
According to Forbes’ 2021 Billionaires List, there are currently seven billionaires residing in Dubai. These individuals have a combined net worth of over $24 billion.
The Seven Billionaires in Dubai
- Majid Al Futtaim: With a net worth of $4.6 billion, Majid Al Futtaim is the wealthiest person in Dubai. He made his fortune through his company, Majid Al Futtaim Holding, which operates shopping malls and hotels throughout the Middle East.
- Hussain Sajwani: The founder of DAMAC Properties, Hussain Sajwani has a net worth of $2 billion. His company has built some of Dubai’s most extravagant properties, including luxury apartments and golf courses.
- Abdulla Al Futtaim: Abdulla Al Futtaim has a net worth of $1.6 billion and is the cousin of Majid Al Futtaim. He owns the automotive dealership Al-Futtaim Motors and also operates several shopping malls throughout the UAE.
- Saeed Bin Butti Al Qebaisi: Saeed Bin Butti Al Qebaisi made his fortune through his investments in healthcare and education.
He has a net worth of $1.4 billion.
- Ravi Pillai: Originally from India, Ravi Pillai moved to Dubai in the 1980s and made his fortune through his construction company, RP Group. He has a net worth of $1.2 billion.
- Sunny Varkey: Sunny Varkey is the founder of GEMS Education, one of the largest private education companies in the world. His net worth is estimated to be $1.
- Mohammed Serafi: With a net worth of $1.1 billion, Mohammed Serafi made his fortune through his investments in real estate and healthcare.
The Future of Billionaires in Dubai
Dubai’s economy is heavily reliant on oil, but the government has been working to diversify its economy by investing in industries such as tourism, real estate, and finance. This diversification has created new opportunities for entrepreneurs and investors, which may lead to an increase in the number of billionaires in Dubai in the future.
Conclusion
In conclusion, there are currently seven billionaires residing in Dubai with a combined net worth of over $24 billion. These individuals have made their fortunes through various industries such as real estate, education, healthcare, and retail. With Dubai’s continued economic growth and diversification, we may see an increase in the number of billionaires calling this luxurious city their home.