The United Arab Emirates (UAE) has the second largest economy in the Arab world. One third of the nation’s GDP is from oil revenue. Petroleum and natural gas exports play an important in the economy. This nation has some of richest Arab families in the world.
Here is a brief overview of billionaires in UAE according to their Forbes ranking net worth:
10. Azad Moopen-Net worth: $1.1bn (Dh4bn)
Physician Azad Moopen founded and chairs Dubai-based Aster DM Healthcare, a leading health care provider in the Middle East and India. He was a professor at a government-owned medical college in Calicut in south India before he immigrated to Dubai in 1987, where he set up his medical practice,” his profile says.
“Moopen went on to build a healthcare empire that today treats more than 8 million patients annually, employs over 1,000 doctors and covers the spectrum of hospitals, medical clinics, diagnostic centers, pharmacies and a health care consultancy. He’s reportedly planning to list Aster in India. Passionate about reversing the brain drain from India, he has built hospitals and a medical college in his native Kerala state.Sets aside one-fifth of his income for philanthropy every year.
9.BR Shetty- Netnet worth of $1.7bn (Dh6.2bn)
Former pharma salesman B.R. Shetty immigrated to Abu Dhabi in 1972. He made a big splash last May with the acquisition of UK foreign exchange group Travelex Holdings for an estimated $1.6 billion together with Centurion, the investment arm of Saeed Bin Butti Al Qabaisi, his longtime business partner,” lists his profile.
“Shetty already owns the UAE Exchange, which handles over 10 per cent of all inward foreign remittances into India. His London-listed NMC Health is the UAE’s largest private health care firm. Other interests include generics firm Neopharma which is a contract manufacturer for Pfizer and Merck Serono. Shetty also owns prized real estate such as an apartment on the 100th floor of Dubai’s Burj Khalifa, the world’s tallest building. He offered jobs at NMC to 46 Indian nurses who were stranded in Iraq’s Tikrit after militants seized it.
8. Sunny Varkey- Networth: $1.8bn (Dh6.6bn)
Education czar Sunny Varney is ranked at No. 8 in the UAE and #949 globally (#988 last year). The net worth of the founder of the world’s largest KG-to-Grade 12 school operator is estimated by Forbes at $2bn (Dh7.4bn), up from $1.8bn (Dh6.6bn) last year.
Son of expat teachers, Sunny Varkey created Gems Education, the largest operator of private kindergarten- to-grade-12 schools in the world, with 50 schools and 140,000 students across the Middle East, Africa, Europe, Asia and North America. In October, he sold a 20 per cent stake for an estimated $350 million in its emerging markets business, covering the Middle East, North Africa and East Asia to a consortium of investors which included Blackstone and Bahrain’s sovereign investment arm,” notes his profile.
Varkey stepped down as chairman, ceding spot to Sir Michael Peat, a former private secretary to Prince Charles. While Gems’ first school in the US has opened in Chicago, a plan to start a school in New York has been stalled by a lawsuit by a property developer who alleged that Gems breached a tenancy contract. Passionate about fitness, Varkey works out daily. Dotes on his four grandkids.
7.Ravi Pillai- Networth of $2.4bn
India-born, Middle East construction tycoon Ravi Pillai controls the $3.5 billion RP Group whose flagship is Nasser Al-Hajri Corp., a construction heavyweight in Saudi Arabia. He owns a 50 per cent stake in the privately held firm, which is named after his local partner,” says his profile.
“Pillai is bullish on Dubai, where he’s lined up real estate projects worth $1.5 billion. These include a Crowne Plaza hotel due to open in 2016 and a 110-story tower that will be Dubai’s second tallest. His fortune is up partly on new information on his Indian assets, which include stakes in banks, hotels, property. He visits the Guruvayur temple in his native Kerala state every month because, he tells Forbes, ‘When you’re doing so much you need blessings.’
6. M.A. Yusuff Ali- Networth of $2.5bn (Dh9.2bn)
Indian-born retail king of Abu Dhabi, MA Yusuff Ali controls the $5.8 billion (revenues) LuLu Group, which has 114 hypermarkets, supermarkets and grocery outlets, mostly in the Middle East. It has lately expanded into Malaysia and Indonesia where its ‘halal’ products are popular,” says his profile.
“Yusuff Ali, who hails from a village in the southern Indian state of Kerala, is pumping investments back home. He already has a LuLu mall and two Marriott hotels in the southern Indian city of Cochin where he maintains a 60,000-square- foot waterfront home. He’s now building a technology park called the Lulu Tech Park and a Grand Hyatt hotel,” it adds.
“Recently he announced that he will invest $435 million in the southern state of Telangana which will include a mall, hypermarket, food and meat processing unit and a convention centre. New toys include an Embraer Legacy 500 jet.
5. Abdulla Al Futtaim – Net worth: $2.8 Billion (Dh10.3 Billion)
Abdulla Al Futtaim is the owner of the Al Futtaim Group, which is the exclusive distributor of Toyota and Honda vehicles in the UAE. The company is run by his son Omar.
4. Saif Al Ghurair & family – Net worth: $3.4 Billion (Dh12.5 Billion)
Saif Al Ghurair is the former chairman of family holding company Al Ghurair Group, which has interests in steel, banking and plastics for food packaging.
2. Majid Al Futtaim – Net worth: $6.2 Billion (Dh22.8 Billion)
This Dubai-based billionaire is the estranged brother of billionaire Abdulla Al Futtaim. Non-family members run his eponymous holding company, which operates malls and Carrefour hypermarkets across the Middle East, North Africa and Central Asia.
1. Abdulla bin Ahmad Al Ghurair & family – Net worth: $6.4 Billion (Dh 23.5 Billion)
Abdulla bin Ahmad Al Ghurair and his brother Saif Al Ghurair (who is also a billionaire) are scions of a prominent UAE business family. He founded the Mashreqbank in 1967. Today it is one of the nation’s top banks. Abdulla is the chairman of the bank and his son Abdul Aziz is the CEO.
A Look at the Richest Presidents in the World.
We all love and respect heads of state that are committed to the welfare of their people. President of a nation enjoys immense power and fame. The job also involves lot of stress.
Here are the top 5 richest presidents in the world:
1) Vladimir Putin, President of Russia -$40 Billion
Russian President Vladimir Putin’s reported income is only $80,000; however, whistleblowers like political scientist Stanislav Belkovsky and former fellow government member Ivan Rybkin claim that Putin controls secret assets in oil and natural gas companies like Gazprom and Gunvor to the tune of over $40 billion. Some reports are enormously high – at $70 billion.
Putin, who has been the President of Russia since 2012, has many supporters. Some of them claim that these allegations have not been proved. Till today no one knows the exact extent of his wealth.
Vladimir Putin QuotesWe don’t need a weakened government but a strong government that would take responsibility for the rights of the individual and care for the society as a whole.We shall fight against them, throw them in prisons and destroy them.The path towards a free society has not been simple. There are tragic and glorious pages in our history.
2) Bhumibol Adulyadej, King of Thailand(Dead) – $30 Billion
Bhumibol Adulyadej has been the King of Thailand since 1946. He is the longest serving head of state. The king has made generous contributions to different sectors of Thai society. His is considered to be the wealthiest royal in the world and the longest reigning monarch in the history of Thailand.
Bhumibol Adulyadej QuotesA good person can make another person good; it means that goodness will elicit goodness in the society; other persons will also be good.Goodness is something that makes us serene and content; it is magnificent. Those who are not good are evil.Everyone must correct his own self; this is something more difficult to cope with, but it is not impossible.In Thailand’s history there have been dissensions from time to time, but in general, unity has prevailed.The will to work of everyone in the country is the best guarantee of national survival.Nature is something outside our body, but the mind is within us.I have been extremely touched by these signs of affection on the part of all the Thai people.
3) Hassanal Bolkiah, Sultan of Brunei – $25 Billion
The full name of Sultan Hassanal Bolkiah is Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulahibni Al-Marhum Sultan Haji Omar Ali Saifuddien Sa’adul Khairi Waddien. He is the head of state and Yangi-Di Pertuan of Brunei. He has been ruling Brunei ever since he became the Sultan in 1967. He ascended the throne after his father relinquished the throne in 1967. His is one of the largest car collectors in the world. Some companies have made cars exclusively for him! He has a Rolls Royce coated with 24K gold.
Hassanal Bolkiah QuotesAs a small country, both in size and population, our future hinges on the quality of our people.Future peace, prosperity and confidence depend not just on ourselves but on the success of all nations. Hence, we are all partners, no matter what our backgrounds, cultures, faiths and histories.The nation will benefit in the long term if it continues to be open to foreign expertise. This will help the country to establish its business culture and environment faster, based on international best practice.
4) Khalifa bin Zayed Al Nahyan, President of UAE – $23 Billion
Khalifa bin Zayed Al Nahyan is the President of UAE and also the Emir of Abu Dhabi. He assumed the office of the president in 2004 after the death of his father. His family is among the richest in the world. It has an estimated wealth of more than a whopping $150 billion! Khalifa bin Zayed Al Nahyan is the chairman of the Abu Dhabi Investment Authority. Even though he controls 97.8 billion barrels of proved oil reserves, not all his wealth is from oil. Currently he runs the world’s second-largest sovereign wealth fund, with assets of $773 billion
Khalifa bin Zayed Al Nahyan Quotes“Future generations will be living in a world that is very different from that to which we are accustomed. It is essential that we prepare ourselves and our children for that new world.”“Human capital is the real wealth of this country, before and after oil…Serving the interests of citizens is the goal that we strive for every day. Building human resources is central to comprehensive social and economic development.”“Change or you will be changed: leaders who neglect the good of their people will be forsaken. Leadership is a service, not a gateway to privilege.”Thanks to the competence, love of God, our country’s security and stability, endowed wealth, integrated infrastructure and quality services, the U.A.E. turned into the world’s renowned destination for tourism, investment and business management: the interface of choice for hosting major cultural events, artistic and sports, in the world.
5) Mohammed bin Rashid Al Maktoum, Emir of Dubai – $18 Billion
Mohammed bin Al Maktoum is the Emir of Dubai and the prime minister and vice president of UAE. His family’s total wealth is estimated to be around $44 billion. He owns 99.67 percent of Dubai Holding. He is the brain behind Dubai’s landmarks like Burj Al Arab, Palm Islands and Burj Al Khalifa.
Mohammed bin Rashid Al Maktoum Quotes“There is a world of difference between a leadership that is based on love and respect, and one that is based on fear.”“Dubai will never settle for anything less than first place.”“Today’s Arab crisis is not one of money, men, morale, land or resources … The real crisis is rather one of leadership, management and perennial egotism.”“Failure is not falling to the ground; it is remaining there once you have fallen and the greatest failure is when you decide not to stand up again.”“Good leadership puts the interests of the community as a whole before those of any specific group. Credibility of leadership can only be established through action and not words.”“An easy life does not make men, nor does it build nations. Challenges make men, and it is these men who build nations.”“Our job is to provide an environment that unlocks women’s potential – one that protects their dignity and femininity, helps them create the necessary balance in their lives, and values their talents and potential. Given this environment, I am confident that women will perform nothing short of miracles.”“The race for excellence has no finish line.” Don’t Forget To Share With Your Friends And Family On Facebook.