9 Richest Persons in Dubai +Their Net Worth in 2023 March 1, 2025 – Posted in: Forex Trading

This transformation has led to the emergence of numerous billionaires who have significantly contributed to the nation’s prosperity. Understanding the wealth distribution in the UAE offers valuable insights into the sectors driving its economy and the individuals at the helm. He is an Indian businessman from Kerala, who designated Alukkas Jewelry in 2001.

The Al Maktoum family, the ruling family of Dubai, has vast wealth due to their investments in various sectors, including real estate, tourism, and aviation. As the ruling family of Abu Dhabi, the Al Nahyan family has immense wealth from the region’s oil reserves. They are not only one of the wealthiest families in the UAE but also one of the most powerful. Mohammed Alabbar is the founder of Emaar Properties, the developer behind iconic structures like the Burj Khalifa and Dubai Mall.

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Though he might be best known for his political and monarchical identities, he made most of his money as a real-estate developer as well as his family’s robust holdings. It’s hard to establish a firm line between government assets and the Al Maktoum family’s wealth, but there’s no doubt that Al Maktoum helped make Dubai into the city it is now. The money is sure to stay in the family, and Al Ghurair’s brother, Saif Al Ghurair, was also a billionaire before he died in 2019.

His group is a leading player in the automotive, insurance, and real estate sectors. With his visionary business mindset, he has expanded the group’s presence across the UAE and other countries. The group is also actively involved in supporting education and community programs in the Emirates. Micky Jagtiani, who passed away in 2023, left behind a strong legacy in the retail sector with Landmark Group. His group specializes in retail, footwear, electronics, beauty products, and apparel.

Hussain Sajwani – Net Worth: US $10.2 Billion

Mr. Sunny Varkey is the chief executive officer of GEMS Education, which runs more than 54 international schools all over the world. With a net worth of $3.8 billion, Varkey has great influence in the field of education. There are more than 250 schools under the GEMS Education umbrella educational management system across different global countries that offer education to thousands of students. Like other philanthropists, Varkey’s philanthropy is geared towards enhancing the quality of education throughout the world and bringing quality education to poor children. His net worth is estimated at $4.0 billion, making him one of the wealthiest figures in Dubai.

How did the UAE’s richest man accumulate his wealth?

Moreover, their stories are the key examples of opportunities that Dubai offers for those with ambition, perseverance, and the drive to succeed on a global stage. Therefore, the city continues to be a magnet for high-net-worth individuals, which sets a standard of progress in the Middle East. Yusuff Ali Musaliam Veetti Abdul Kader (M.A Yusuff Ali) is a very popular Indian billionaire and entrepreneur. Yusuff Ali is the managing director and chairman of LuLu Group International.

Dubai is home to influential billionaires who have reshaped its business landscape with innovative ventures across real estate, retail, tech, and education. Among the richest people in Dubai, their wealth and influence extend globally, driving economic growth, job creation, and social change in the UAE and beyond. Dubai is amongst the fastest-growing economy, attracting billionaires and aspiring leaders with its luxury, innovation and wealth opportunities. The Top 30 Richest People in Dubai have brought notable changes in real estate, healthcare, education and various other sectors, leading them to become the top richest people in Dubai. Thus, known as ‘Land of Opportunities’, Dubai has emerged as an international hub for entrepreneurs and wealth creation. Dubai’s strong economy and business-friendly rules have attracted many of the world’s most successful entrepreneurs and investors.

His canadian nationality is the reason begind him being listed as the richest person in canada according to several sources.
Many gain wealth through family businesses, strategic investments, or entrepreneurship, often benefiting from Dubai’s booming economy and tax-friendly environment.
After two years of his enterprise, it grows into a new enterprise, Nasser S.Al Hajri Corporation (NSH).
In addition to developing his commercial empire across Asia, Africa, and Europe, he is renowned for bringing about a revolution in the retail industry in the United Arab Emirates.
Joining Abu Dhabi Gas Industries in 1981 as a finance officer, Sajwani saw entrepreneurship by launching Global Logistics Services, a catering company, in 1983.
At 16, he moved to London, where he became a chartered accountant and began his career with International Computers Limited (ICL) before assuming the role of European treasurer.

Q5: How can someone become one of the wealthiest people in Dubai?

Be it how-tos or the latest happenings in AI, cybersecurity, personal gadgets, platforms like WhatsApp, Instagram, Facebook and more; TOI Tech Desk brings the news with accuracy and authenticity.Read More Including this, they established AL Futtaim Group automobiles and automotive products in U.A. Along with this, they started furniture and home goods retailers, which are famous all over the world. Abdulla Futtaim’s total net worth is $2 billion, he is counted as the richest man in U.A.E. He moved to Dubai in 1959, but for some reason, he returned to Kerala in the 4th grade and sold fruit from the side of the road to make some extra money.

Thus, Sajwani knows how to reach out to others in the industry and form relationships with people all around the world. Most of the figures on this list are businessmen, but Mohammad Bin Rashid Al Maktoum is known best for his political career and royal status. In 1967, Abdulla bin Ahmad Al Ghurair founded Mashreqbank, which has since grown into one of the leading banks in the United Arab Emirates. Not only do we make sure we are using the best information, but we also strive to update our content based on new findings and changing circumstances.

After being a medical lecturer, he traveled to Dubai in 1987 to establish Aster DM Healthcare, the country that now runs over 697 hospitals, clinics, and pharmacies in seven countries. Through the Aster DM Foundation, Moopen is known for being dedicated to affordable and high-quality healthcare and various philanthropic initiatives. The Padma Shri Award was given to him in 2011 as a recognition of his accomplishments.

Nowadays, Al Futtaim Group is one of the largest companies in the United Arab Emirates, and thanks to Abdulla, it operates not only in Dubai. Having a net worth of $ 3.3 billion, Al Futtaim has obviously played a role in impacting the UAE’s retail & automotive industries through its involvement in brands such as Toyota & IKEA. He has professionally speculated in many areas like banking and real estate business and he is a great donor to the course of education and health care facilities. Yusuff Ali M.A., other India’s billionaire living in Dubai, is the chairman of the Lulu Group, which runs one of the largest hypermarket chains in the Middle East region.

As of 2025, Forbes estimates his net worth at $3.9 billion (₹3.42 lakh crore).
He has received several international awards for his contributions to education and child development.
In the United Arab Emirates (UAE), Abdulla Bin Ahmad Al Ghurair is widely regarded as one of the most powerful and wealthy businessmen that the country has to offer.
This real estate mogul owns the DAMAC Properties, which he established in the year 2002.
Fuelled by the boom of the tourism industry, real estate market, and strategic location, the city is home to the richest people in the UAE.
Their total wealth decreased by $950 billion or 9 per cent to $9.6 trillion.

Managing the company’s operations are his sons, Dino and Jay, serving as CEO and group executive director, respectively. richest man in dubai Additionally, Sunil Munjal, a member of the Indian Munjal family known for their involvement in the two-wheeler industry, holds a minority stake in GEMS. Dubai, a gilded metropolis synonymous with luxury and excess, is a playground for the world’s ultra-wealthy. Its tax-free status, coupled with a booming economy, has transformed the city into a billionaire magnet. Home to a staggering concentration of affluence, Dubai’s skyline mirrors the fortunes of its elite residents.

How Pavel Durov became Dubai’s richest

After inheriting the business from his family, he made daring and calculated business decisions that led him to where he is today. As of 2nd September 2024, he is the 950th richest man in the world and simultaneously the first education entrepreneur to invest in philanthropic causes. You will be fascinated to know that he was UNESCO Goodwill Ambassador for 2012 and has a philanthropic foundation called the Varky Foundation. He started his journey in finance at Abu Dhabi Gas Industries, later moved on to a catering venture, and eventually established the DAMAC Properties in 2002. Eldest of five children, he had an entrepreneurial mindset ever since he was a kid and studied Industrial engineering at the University of Washington.

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In 2019, he received ‘Best Indian Diamond Jewellery of the Year’ by the Retail Jeweller Middle East Innovation Awards. He is known for specializing in the financial sector and linked production to economic development of the UAE. Other than being a businessman, he is also involved in real estate and investments. Abdulla Al Futtaim is the chairman of the Al Futtaim Group- one of the largest companies in the UAE. The group has its businesses in automotive, furniture, property, retail and electronics.