Richest Men In UAE 2020 Top 7

Are you in search of the top 7 richest men in United Arab Emirates? – The United Arab Emirates is a conglomerate of states that are known to be some of the richest countries in the World. The conglomerate is currently made up of Abu Dhabi, Ajman, Dubai, Mum Al Quwain, Sharjah, Fujairah, and Ras Al Khaimah. Abu Dhabi is currently the capital of the Emirates. Each member of the emirate has a ruler and one of them is usually considered for the Post of the President of the United Arab Emirates. The rulers, however, form a council called the Federal Supreme Council.

The economy of the states in the Emirate is highly known to be on the increasing side. This is because it depends major on petroleum and gas, which is a must consumable product by the citizen and noncitizen of the United Arab Emirates. In fact, the Emirate is the second largest economy in the World with Saudi Arabia taking the first position. Even though the economy is highly dependent on oil, the economy is still highly diversified.

One major way by which the economy keeps booming is, in addition, due to the enormous number of rich individuals in the Emirate. In fact, they are among the top richest individuals in the World according to the Forbes Wealth Listing. But one interesting fact is that most of the individuals in the World do not know these individuals and their net worth. Therefore, in order to keep you informed and have information about the net worth of the richest men in UAE in accordance with the Forbes Listing of the World Billionaires. Enjoy!!!

Top 7 Richest Men in UAE {United Arab Emirates} 2020 

  • 1. Majid Al Futtaim (Net Worth of $5.5 Billion)

The richest man in Qatar is Major Al Futtaim who rose to the top this year after taking the second position in the year 2018. He is one of the few entrepreneurs in the Emirate known for improving the UAE economy. He is known with a holding company based in Dubai. The holding company currently owns and operates leisure, retail and shopping malls in almost 15 countries spread across the North Africa and the Middle East part of the World since 2015. Since it’s establishment in 1992, the company operates with subsidiaries like Al Futtaim Retail, Al Futtaim Properties and AL Futtaim Ventures. Some of the countries that the company currently operates in include Armenia, Georgia, Jordan, Pakistan, Qatar, Lebanon, Egypt, Kuwait, Bahrain, Oman etc. In compensation for his economic contribution, he was awarded the Royal Commendation Order by the Sultan of Oman called Qaboos bin Said al Said in the last month of 2018.

Abdullah bin Ahmad Al Ghurair
  • 2. Abdulla bin Ahmad Al Ghurair (Net Worth of $4.8 Billion)

Being the founder and Chairman of an Emirati Bank called Mashreqbank, Abdullah bin Ahmad Al Ghurair is the second richest man in UAE, one of the few entrepreneurs in the United Arab Emirates that employ all possibilities to ensure that they increase the richness level of their riches. He was the richest man in the UAE with a whopping sum of about $5.9 Billion before Majid took over the position. He is a member of a prominent Emirati family with his brother, Saif Al Ghurair being the Chief Executive Officer of Al Ghurair Groups. The family is widely known in the Federal Supreme Council as one that controls wealth and ensures that each one of the family members gets a spot in the list of richest men. However, they are also known to offer impactful philanthropic acts to the citizens of all the states in the Emirate and beyond. His son named Abdul Aziz Al Ghurair is currently the Chief Executive Officer of Mashreqbank and head of Al Ghurair Investments.

Abdullah Al Futtaim
  • 3. Abdullah Al Futtaim (Net Worth of $2.5 Billion)

Abdullah Al Futtaim is the third richest man in the United Arab Emirates and a cousin to the richest man in the UAE, Majid Al Futtaim. Being the owner of the Al Futtaim Group, he is one of the moguls in the automobile business. However, his business line is not only limited to the automobile deals but also to retail and real estate deals. He is also a respected professional businessman in the latter two businesses. Currently, he is married and lives in Dubai, UAE. His son, Omar Al Futtaim is currently worth $2.5 Billion in accordance with Forbes Listing of World Billionaire. Omar Al Futtaim is the head and Chairman of Al Futtaim Private LLC Company. His company, which his son heads, was the major distributor of Toyota in the United Arab Emirates around the early years of the 1950s. Additionally, the company was given licence to operate Ikea, Hertz, Toy “R” Us, Zara and many others in the Emirate.

Hussain Sajwani
  • 4. Hussain Sajwani (Net Worth of $2 Billion)

Given birth to in 1952 or 1953, Hussein Sajwani can be considered as one of those trained to be an entrepreneur. This is supported with the fact that both his parents were entrepreneurs and this gave him an edge when it comes to harvesting opportunities and turning it into real money. He is one of the many billionaires embedded in the Emirate, a property developer, chairman and founder of DAMAC properties, which is a real estate development company. In Forbes 2017 Global List of the fastest growing global countries employing the annual growth rate of revenues generated during 2013 till 2016, his company took the first position and this explained the enormous riches the company brings for him on a yearly basis. This is why he is currently occupying the fourth (4th) position in the list of the richest men in the United Arab Emirates. In compensation for his enormous contribution towards the development of the Emirate, he has been honoured of awards of different categories including Property Chief Executive Officer of the Year in 2017, Real Estate Legend in 2018, Real Estate Business Leader in 2018, 15th On the Hotelier Power 50 Chief Executive Officers in the Middle East and many other awards.

Saeed Bin Butti AlQubaisi
  • 5. Saeed Bin Butti Al Qebaisi (Net Worth of $2 Billion)

The number 1057 richest man in the World according to the Forbes Listing of the World Billionaires, the fifth (5th) richest man in UAE. He is among the very few that increase the richness level of their riches at the same time providing adequate health care delivery for the people of the Emirates. Currently, a firm based in the capital city of the UAE, Abu Dhabi called Centurion Investments has him as the Chairman. The company is widely known in the Emirate to be involved in deals that have to do with investments in money exchange, retail and healthcare. Being an investor, he has invested in an enormous number of deals. His most valuable and highest stake lies in a company called NMC Health. The company is located in London and usually bill to herself as the largest private healthcare provider in the United Arab Emirates. NMC was founded by B.R Shetty. In addition, Saeed Butti is also known for having investments or partnership with Khalifa Bin Butti Al Muhari, who is also one of the billionaires of Al Ghurair taking the 6th position with ä whooping sum of about 2.4 Billion

  • 6. Saif Ahmad Al Ghurair (Net Worth of $1.8 Billion)

Being an Emirati businessman, Said Al Ghuriar is the Chief Executive Officer of Al Ghurair Group of companies, which is a large company that deals in the manufacturing and real estate sectors and based in Dubai. The company today has various business units and these units are managed by Saif Al Ghurair Family. Additionally, he is a strong shareholder in Mashreq bank. Given birth to in the early years of the 1920s, he suffered blindness in one of his eyes due to a stormy boat trip that occurred in the early years of 1930s. He is an alumnus of Al Ain University where he got a Bachelor Degree in Accounting. Currently married with six children, he lives in Dubai.

  • 7. Khalifa Bin Butti Al Muhairi (Net Worth of $1.1 Billion)

The 7th richest man in United Arab Emirates is Khalifa Bin Butti. He is also a major shareholder in the London-listed firm that claims to be the largest private health care provider in the entire Emirate, NMC Health. He is an Executive Board member in the company. In addition, he has stakes in UAE Transfer, a firm saddled with the responsibility of making money transfer in the Emirate. The company is currently known to handle approximately $30 billion in remittances per year. Other company he has stakes in include Travelex which is a money exchange firm located in the United Kingdom. He is also known to be a good and profitable business partner with Saeed Bin Butti Al Qebaisi. Some of the partnership can be seen in investment through entities called Centurion Partners, Infinite Investment etc.

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The United Arab Emirates is one of the most expansive states in the World. This is, in part, as a result of the enormous number of rich individuals in the states within the Emirate. This has helped in developing and building the economy with fast speed.

Tag: Richest Men In UAE

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