“In Dubai, where luxury meets opportunity, some people have turned dreams into vast fortunes.”
Dubai is a city where dreams are brought to life and fortunes are made. It’s home to some of the richest people on the planet, whose journeys to the top are as grand as the city itself. But how did they do it? What industries did they conquer, and what smart decisions helped them turn dreams into billions? In this blog, we’ll know the inspiring stories behind the top 10 richest people in Dubai. Get ready to discover the secrets that helped these remarkable people build incredible worth and make Dubai their wealth playground.
Here Are the Top 10 Richest People in Dubai
| Rank | Richest People in Dubai | Company | Net Worth |
| 1 | Pavel Durov | CEO – Telegram | $15.5 billion |
| 2 | Mohammed Bin Rashid Al Maktoum | Prime Minister – UAE | $14 billion |
| 3 | M.A. Yusuff Ali | MD – Lulu Hypermarket | $7.1 billion |
| 4 | Mickey Jagtiani | Chairperson – Landmark Group | $5.2 billion |
| 5 | Hussain Sajwani | CEO – DAMAC Properties | $5.1 billion |
| 6 | Abdulla bin Ahmad Al Ghurair and Family | Founder & Chairman – Mashreqbank | $4.4 billion |
| 7 | Sunny Varkey | Founder & Chairperson – GEMS Education | $4 billion |
| 8 | BR Shetty | Founder – NMC Health | $3.15 billion |
| 9 | Majid Al Futtaim & family | Founder & Owner – Majid Al Futtaim | $3.6 billion |
| 10 | Ravi Pillai | Founder & Chairman – RP Group | $3.5 billion |
- Pavel Durov
- Net Worth: $15.5 billion
As of 2024, Pavel Durov’s net worth is largely due to Telegram’s continued growth, with nearly 950 million global users. Known for his strong perspective on digital privacy, Durov built Telegram into a leading messaging platform that prioritizes secure communication. Telegram’s revenue comes from premium subscriptions and advertising, helping to boost its valuation. However, Durov’s strategic decision to avoid compliance with restrictive government policies in certain markets has also strengthened his reputation and global influence. Residing in Dubai since 2017, Durov’s success stems from his commitment to privacy, making him one of the wealthiest residents in the UAE.
- Mohammed Bin Rashid Al Maktoum
- Net Worth: $14 billion
In 2024, Sheikh Mohammed bin Rashid Al Maktoum, ruler of Dubai and UAE’s Vice President. His wealth is largely derived from Dubai Holding and Dubai World, which oversee a vast range of businesses including real estate, hospitality, and transportation. Strategic investments in luxury tourism projects like Palm Jumeirah and the Emirates Airline have helped establish Dubai as a global tourism and business hub, attracting millions of visitors annually. Moreover, his leadership and innovative vision continue to shape Dubai’s economy, making him one of the wealthiest and most influential figures in the region.
- M.A. Yusuff Ali
- Net Worth: $7.1 billion
M.A. Yusuff Ali, a retail magnate, became one of the richest people in Dubai through his leadership of LuLu Group International, which has grown into a global retail powerhouse. The group, valued at $8.4 billion, operates over 250 hypermarkets and malls across 22 countries, serving millions daily. Yusuff Ali’s strategic expansion, from humble beginnings in Abu Dhabi to international ventures, includes diverse interests in hospitality and food processing. This success, driven by powerful partnerships and a commitment to quality, continues to cement his global fame and fortune.
- Mickey Jagtiani
- Net Worth: $5.2 billion
Micky Jagtiani, a Dubai-based businessman originally from India, became one of the richest people in Dubai through his Landmark Group, founded in 1973. With his dedication and the support of his wife Renuka Jagtiani, the group expanded into retail and real estate, offering popular brands like Lifestyle, Max, and Home Centre. Jagtiani’s planned investments in the Middle East, India, and Africa helped grow his fortune, with an impressive net worth in 2024. His success is attributed to diversification across retail, real estate, and strategic regional expansions.
- Hussain Sajwani
- Net Worth: $5.1 billion
Hussain Sajwani is one of the richest people in Dubai, with an amazing net worth in 2024. He made his fortune through DAMAC Properties, a real estate development company he founded in 2002. Sajwani’s success is largely attributed to his timely entry into Dubai’s booming property market, capitalizing on the government’s decision to allow foreign property ownership. His clever partnerships, including a notable one with Donald Trump, and bold marketing moves such as offering luxury cars with properties, have solidified his brand. Additionally, DAMAC’s expansion into hospitality, fashion, and data centers has added to the diversification of Sajwani’s business empire.
- Abdulla bin Ahmad Al Ghurair and Family
- Net Worth: $4.4 billion
Abdulla bin Ahmad Al Ghurair and his family built their wealth through the Al Ghurair Group, a diversified conglomerate with holdings in sectors like banking, food, construction, and real estate. Al Ghurair’s most notable achievement was founding Mashreqbank, one of the UAE’s largest financial institutions. Additionally, the group’s investments in construction and real estate, including significant contributions to iconic projects like the Burj Khalifa, have cemented their success.
- Sunny Varkey
- Net Worth: $4 billion
Sunny Varkey, founder of GEMS Education, became one of the richest people in Dubai through his advanced work in the private education sector. GEMS is the world’s largest private school operator, with a network of over 60 schools across the Middle East, Asia, and Africa. His strategic focus on high-quality education, combined with expanding globally, helped him build his fortune.
- BR Shetty
- Net Worth: $3.15 billion
B.R. Shetty, an Indian-born billionaire, has built his wealth by successfully investing in multiple sectors, particularly healthcare, finance, and remittances. As the founder of NMC Health, one of the UAE’s largest healthcare providers, Shetty’s strategic decisions in the medical field played a key role in his financial growth. He also founded UAE Exchange and Neopharma, expanding his footprint in finance and pharmaceuticals. Shetty’s ventures in various industries and his philanthropic efforts, such as joining the Giving Pledge in 2018, have solidified his status as a prominent businessman in Dubai.
- Majid Al Futtaim & family
- Net Worth: $3.6 billion
Majid Al Futtaim, through his company Majid Al Futtaim Group, became one of the richest people in Dubai by dominating industries like retail, real estate, and entertainment. He founded the company in 1992, introducing Carrefour supermarkets to the region and developing the Mall of the Emirates. His planned focus on modern retail and expanding his business internationally helped build his fortune. His ongoing influence in retail innovation and sustainability has made him a significant figure in Dubai’s business world.
- Ravi Pillai
- Net Worth: $3.5 billion
Ravi Pillai has become one of the richest people in Dubai through planned investments across multiple industries, including construction, hospitality, healthcare, and retail. Originally from a humble background, Pillai made his initial mark in the construction sector with his company Nasser S. Al Hajri Corporation (NSH), later expanding into steel, cement, oil and gas, and even luxury real estate. His RP Group, now a global enterprise, has revenue exceeding $5 billion, and his ventures span the UAE, India, and beyond. This makes him one of the top billionaires globally.
End Note
Each of the richest people in Dubai followed a unique path to success, but they all share a common drive to make it big. Their stories remind us that with hard work and the right opportunities, greatness is within reach. If you’re inspired to create your own success story, keep coming back to our blog for fresh insights, practical advice, and motivation. Furthermore, share it with all your friends who need a little push of motivation to do something great in life!
Let these stories fuel your dreams and encourage you to chase your goals. Who knows? The next great story could be yours.
FAQs
How many billionaires are from Dubai?
Dubai is home to around 21 billionaires, with many earning wealth in industries like real estate, retail, and technology, making Dubai one of the wealthiest cities in the region.
Where do most billionaires live in Dubai?
Most billionaires in Dubai reside in upscale areas such as Emirates Hills, Palm Jumeirah, and Downtown Dubai, which offer luxurious properties, stunning views, and high-end amenities.
What is the top 1% of wealth in Dubai?
To be in the top 1% in Dubai, individuals typically have a net worth exceeding $5 million, as the city ranks among the wealthiest globally.
