DUBAI – Three businessmen from the UAE whose names are synonymous with big brands in the country have been named among the world’s top billionaires in Bloomberg’s Billionaires Index on Sunday (March 29).
Majid Al Futtaim landed on the 305th spot, followed by Lulu Group founder M.A. Yusuff on the 338th spot with an estimated net worth of $5.01 billion, and Al Ghurair Group founder Abdullah Al Ghurair at 474 on the list with a net worth of $3.85 billion.
According to the list, Al Futtaim is also the richest billionaire in the UAE with an estimated net wroth of $5.30 billion.
Al Futtaim is the founder and sole owner of Majid Al Futtaim Holding, a real estate and retail company. The Dubai-based business operates in the Middle East, Pakistan, Georgia and Armenia, and owns 26 shopping malls and 13 hotels. Its retail division manages more than 300 Carrefour-branded stores.
Yusuff Ali is the founder and managing director of LuLu Group International, an operator of supermarkets, shopping malls and hotels in the Middle East, Asia, Africa and the UK. The Abu Dhabi-based group had revenue of about $7.8 billion in 2018. Its LuLu Hypermarket chain has more than 180 stores across the Gulf.
Al Ghurair is founder of Al Ghurair, a United Arab Emirates-based family-owned conglomerate. It owns the UAE’s largest flour mill, a commodities trader, a water company, an animal-feed producer, as well as hotels, apartments and a Dubai shopping mall. He also has stakes in Mashreq Bank and National Cement Company.
The list also featured Jack Ma, 17th on the list and the richest billionaire from China with an estimated net worth of $$43.0 billion, India’s Mukesh Ambani on the 19th spot with a net worth of $39.5 billion, Saudi Arabia’s Prince Alwaleed Al Saud in the 90th spot with $12.9 billion and the Philippines’ richest billionaire Manny Villar with a net worth of $5.16 billion. ICA/Expat Media
1 Jeff Bezos (United States) – $117B
2 Bill Gates (United States) – $97.9B
3 Bernard Arnault (France) – $74.6B
4 Warren Buffett (United States) – $70.5B
5 Mark Zuckerberg (United States) – $60.2B
6 Larry Ellison (United States) – $55.6B
7 Steve Ballmer (United States) – $55.1B
8 Larry Page (United States) – $54.6B
9 Amancio Ortega (Spain) – $54.3B
10 Francoise Bettencourt Meyers (France) – $53.4B
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