Top 10 Richest People in Dubai May 2024 (Updated)
Becoming an entrepreneur and running a business is no joke. Doing so requires a lot of effort and strategy since a lot of factors are involved when business operations get conducted. On top of that, turning your business into a success and becoming richer is an even tougher proposition.
Dubai, a place that attracts businessmen like moths to a light, has one of the biggest concentrations of wealthy people in one city. Therefore, finding out the richest people in Dubai is now easier because we have prepared this list for you. Continue scrolling down to know who is the richest person in Dubai as of now!
Also Read: The Top 10 Pros and Cons of Living in Dubai
Top 10 Richest People Of Dubai
Following is the list of the top 10 richest people of Dubai or the top most Dubai billionaires:
| # | Name | Net worth (billions) |
| 1 | Pavel Durov | $15.5 billion |
| 2 | M.A. Yusuff Ali | $7.6 billion |
| 3 | Mickey Jagtiani | $5.2 billion |
| 4 | Hussain Sajwani | $5.1 billion |
| 5 | Mohammed Bin Rashid Al Maktoum | $4 billion |
| 6 | Abdulla bin Ahmad Al Ghurair and Family | $3.9 billion |
| 7 | Ravi Pillai | $3.3 billion |
| 8 | Sunny Varkey | $3.3 billion |
| 9 | BR Shetty | $3.15 billion |
| 10 | Abdulla Al Futtaim & Family | $3.3 billion |
Now, check out the little details of all these top billionaires in Dubai.
1. Pavel Durov
Net Worth: $15.5 billions
The Russian-born tech guru moved to Dubai in 2017 when he refused to coorporate with the Russian Secret service. Pavel Durov refused to provide encrypted data of social network Telegram’s users. The young entrepruneur is the founder and the owner of messaging app Telegram. With more than 700 million monthly active users, Telegram is the fourth most popular messaging app in the world. According to the forbes Pavel Durov has net worth of 15.5 billions in 2024 that makes him the richest man in Dubai.
2. M.A. Yussuf Ali
Net Worth: $7.6 billions
In recent years, Indian-based businessman has improved the rankings tremendously. Yussuf Ali created LuLu Group International to manage a chain of retail online businesses all over the UAE. Under the leadership of Yussuf Ali, it has now expanded to the logistics and food processing departments as well. With a net worth of $6.9 Billion, Yussuf is also a philanthropist, proved by his immense contribution of $2.6 Million to survivors of the Karnataka Floods of 2018.
3. Micky Jagtiani
Net Worth: $5.2 billions
Micky Jagtiani used to be a taxi driver in London. After shifting to the UAE in 1973 and starting a shop for baby products, he has come a long way. Now, he is one of the richest people of Dubai, with a net worth of $5.2 Billion. Micky Jagtiani died in May 2023 at the age of 71. His wife Renuka Jagtiani is now the CEO of Landmark Group, operating in the entertainment and retail industries.
4. Hussain Sajwani
Net Worth: $5.1 billions
After establishing the real estate company DAMAC Properties in 2002, Hussain Sajwani is one of the richest people of Dubai with a net worth of $5.1 Billion. Many other rich businessmen all over the UAE stay in properties and luxury bungalows made by DAMAC, which proves the reputation of the company in Dubai.
5. Mohammed Bin Rashid Al Maktoum
Net Worth: $4 billions
HRH Mohammed Bin Rashid Al Maktoum, Crown prince of Dubai and the Prime Minister of UAE, is ranked among the 7th richest monarchs in the World. Sheikh Mohammad Bin Al Maktoum is the founder and owner of Dubai World and Dubai Holding. Also, according to Dubai law, His Highness and his family is the owner of all un-developed land in Dubai which has allowed the royal family to prosper from the Real Estate boom in Dubai. At the moment his net worth is approximately $4 billions.
6. Abdulla Bin Ahmad Al Ghurair & Family
Net Worth: $3.4 billions
When the former CEO of Mashreqbank retired and passed on his title to his son Abdul Aziz, it was pretty clear as to why did that. He has already earned money to have a net worth of $3.3 billion and is considered one of Dubai’s richest men. As a businessman, Abdulla Bin Ahmad Ghurair has turned Mashreqbank into one of the leading banks of the UAE, being synonymous with the food and real estate industry.
7. Ravi Pillai
Net Worth: $3.3 billions
When this Indian entrepreneur from Kerala made a move to the UAE for wealth and fame, who would have guessed he would become one of the richest people of Dubai? With a small start as a local trader, he would soon go on to establish the Nasser Al Hajri Corporation. After earning lots of success and money, he would push the Ravin Pillai Group to the top, with his total worth being $3.3 Billion.
Also Read: 8 Important Decisions to Make Before You Start A Business In Dubai
8. Sunny Varkey
Net Worth: $3.3 billions
When it comes to marketing education, no one is as influential as Sunny Varkey in the UAE. Winning multiple awards like Outstanding Asian Businessmen of the Year (2007) and Education Business Leader of the Year (2012), he has provided lots of financial help in setting up schools and colleges globally. Doing so made him one of the richest people of Dubai, with a net worth of $3.3 Billion.
9. BR Shetty
Net Worth: $3.15 billions
Yet another Indian-originated entrepreneur making this list is BR Shetty, who has a net worth of $3.15 Billions. With immense control over the healthcare and financial services industries of UAE, he is the head of various companies like NMC Healthcare and BR Life. He came under the spotlight for his efforts to suggest richest businessmen globally donate half their wealth for charitable causes as per the Given Pledge.
10. Abdulla Al Futtaim & Family
Net Worth: $3.3 billions
With a net worth of $3.3 Billion, Abdulla Futtaim is one of the richest people of Dubai. Being the owner of the Al Futtaim Group, he controls the operations of a lot of business activities in the electronics, automotive, and IKEA stores in the UAE. He is famous for being one of the main distributors of Toyota and Lexus vehicles all over the UAE.
Also Checkout: How to Get Business Trade License in Dubai: Everything You Need to Know
Conclusion
Even though Dubai is a small city with a lesser population than most western metropolitan cities, it has an absurd number of millionaires and Dubai billionaires are driving luxury cars in the city. With most of these people being from the real estate and retail industries, the richest people of Dubai are all pretty successful entrepreneurs, like Abdulla Al Futtaim and Yussuf Ali to name a few.
Author bio:
Sofia Kelly is a passionate blogger. She loves to share her thoughts, ideas, and experiences with the world through blogging. Sofia Kelly is associated with Content Rally, Tech Trends Pro, Rsl online, Real Wealth Business, Online News Buzz, Top Preference, Big Jar News, Tour, And Travel Blog, Dream And Travel.
