Richest Person in Dubai (2023): Majid Al Futtaim (~$6.1B)

As of January 2023, the wealthiest individual based in Dubai is Majid Al Futtaim, with an estimated net worth of $6.1 billion (Forbes).

Profile

• Founder & Chairman: Majid Al Futtaim Holding (MAF), established 1992.
• Core businesses: Shopping malls (Mall of the Emirates, City Centre malls across MENA), retail (Carrefour franchisee for Middle East/Africa/Asia), leisure (VOX Cinemas, Ski Dubai, Magic Planet), hospitality, communities (Tilal Al Ghaf, Al Zahia).
• Footprint: 15+ countries, 400+ outlets, 45,000+ employees.

Other Notable Dubai-Based Billionaires (2023)

• Abdulla Al Ghurair (Al Ghurair Group – banking, foods, properties, retail) – ~$4.5B
• Ravi Pillai (RP Group – construction, hospitality, education) – ~$4.2B
• Sunil Vaswani (Stallion Group – commodities, autos, steel) – ~$3.8B
• B.R. Shetty (NMC Health, Finablr – *note: assets under administration since 2020*)

Rankings shift with asset values, exchange rates, and disclosures. Forbes and Arabian Business publish annual Middle East rich lists.