UAE has certainly the Top 10 Business Tycoons in the UAE, but do you know about them? If not then we can help you to get every information about them here.
However, the country undertakes the best business tycoons or we can say, influential entrepreneurs. Sometimes it’s hard to compare them with anyone across or with other countries tycoon. This is mainly because each tycoon has their achievements within their specific context. But there is something more to uncover as to why USA business has the best tycoons.
Fostering the rise of Top 10 Business Tycoons in the UAE
There are various reasons that we have found out as to why the country covers the Top 10 Business Tycoons in the UAE? UAE operates the free market and that is with minimal government involvement. This in turn helps businesses to thrive through competition and also innovation. The country offers low corporate taxes and this makes the entire process of companies quite smoother. This in turn attracts entrepreneurs and investors both. Also serves as a strategic location and in turn serves as the gateway for global trade and this offers access to a vast market. The UAE government is very supportive too and promotes economic diversification with the help of different projects.
Also, the UAE has a strong workforce from all around the world contributing to economic success.
Likely many such facts can help you to understand why UAE has the best business tycoon.
But now it is also important to determine them all and hence below mentioned are the Top 10 Business Tycoons in the UAE for you to explore and know closely about them.
Top 10 Business Tycoons in the UAE
As we have mentioned the UAE has a vibrant and dynamic business landscape. However, if you are figuring out the Top 10 Business Tycoons in the UAE then let us help you to determine them all here.
Net worth- $15.1 billion.
Pavel Durov is one of the top names among the Top 10 Business Tycoons in the UAE. He is the founder of a popular messaging app known as “Telegram”. He is determined to be one of the Russian-born French-Kittitian-Emirati entrepreneurs and was born in St. Petersburg in 1984. He also co-founded VK which is Russia’s social media network (2006). In 2013, Pavel also introduced Telegram which is a cloud-based messaging app- that mainly focuses on security and privacy.
In addition, Telegram also uses end-to-end encryption where only the sender and receiver can read all messages. This made Telegram famous and has been used by millions of people all across the world.
Pavel Durov has been living in Dubai for quite a long time (2017). It was found that he became a citizen of Saint Kitts and Nevis in 2019. But later in 2021, he acquired the citizenship of UAE. He is known for his controversial personality and commitment to freedom of expression.
Net worth- $ 8.4 billion.
Eventually, Micky Jagtiani was passed in May, this year he was one of the Top 10 Business Tycoons in the UAE. He founded Dubai-based Landmark group and this was a retail giant with over 2,200 stores across 24 countries. He was born in Kuwait in 1952, and has faced many challenges to reach such a higher state. It was found that he dropped out of college and had to work odd jobs like cab drivers, hotels and more.
But in 1972, he left everything to start his entrepreneurial journey with just $6000. In 1973 he first opened his store in Bahrain which mainly focused on baby products. But later on, he expanded his market towards fashion, electronics, furniture and more.
Micky Jagtiani is no doubt one of the inspirations for all. He built an empire on his own and with firm determination and willpower. This made him to be one of the best business tycoons in UAE.
Net worth- $6.4 billion.
Hussain Sajwani is for sure one of the prominent figures in the global real estate market. He is the founder and chairman of DAMAC Properties which was established in 2002. A well-known luxury real estate developer with projects across the Middle East, Europe, and North America. As per research, we found that Hussain Sajwani took great steps to shape the look and feel of Dubai’s skyline- Burj Khalifa and the Trump International Hotel and Tower. But he is not limited to these only but has also extended his hands towards fashion, hospitality, manufacturing industries and more. He has also been featured in the Forbes Billionaires list and has also been recognized by prestigious publications.
Abdulla bin Ahmad Al Ghurair
Net worth- $5.8 billion.
Abdulla bin Ahmad Al Ghurair is also one of the top names among the 10 business tycoons in UAE. He took 5 decades to shape the country’s economy and made him reach such a great stage. He is the founder of a business empire, invested in Al Ghurair, Mashreqbank, Al Ghurair Foods, and more. Al Ghurair tends to remain one of the wealthiest individuals in the Middle East. With his skills and efforts, he has been continuously featured in prestigious business lists and mainly on Forbes. No doubt he is one of the respected figures not only in business but also in the UAE community.
Net worth- $4.7 billion.
Sunny Varkey is an Indian-born entrepreneur and even a philanthropist based in Dubai. He is the founder and chairman of GEMS Education (the world’s largest operator of private K-12 schools. The GEM education was founded in 1980 and operates around 80 schools and over 14 countries. Along with this he also founded the Varkey Foundation in 2010, UNESCO Goodwill Ambassador He has received numerous awards for his educational contribution mainly includes Padma Shri Award by the Indian government. The varkey story is the inspiration as it is a mixture of dedication and genuine passion for education. He has used his platform to mainly champion the cause of educational access and quality for all. In turn, this has listed him to be among the top 10 business tycoons in UAE.
Majid Al Futtaim
Net worth- $4.5 billion.
He was known as the visionary business tycoon who made his name across UAE. But what was the reason to be on the top list? There are many reasons to support this. Mainly he founded Majid Al Futtaim Holding in 1992, and it operates across 17
countries and with 40,000 people employed. Majid is known as the powerhouse for business and has franchises for Carrefour hypermarkets in the Middle East with over 375 stores. He no doubt has a significant contribution towards the UAE economy. In turn, it generated billions in revenue and also created numerous employment opportunities. He has also transformed the retail landscape of the UAE and left behind a thriving environment.
Also Read: Top 10 Richest People in Dubai 2023
Net worth- $4.2 billion.
Ravi Pillai is not just the top business tycoon in UAE but all around the world. But it has been found that he is not ahead of Majid Al Futtaim He was born in a farming family in Kerela. He started his journey with the small construction company while facing some initial setbacks. But at present time. Ravi Pillai is the founder and Chairman of RP group. It is one of the million-dollar companies that have diverse interests in construction, steel, cement, hospitality and more. Moreover, the RP group construction remains the core strength and it was responsible for building the iconic landmark- Burj Khalifa apartments in Dubai. With this Pillai is known for his generous contribution to the industry and this has made him appear in the top 10 business tycoon in UAE.
Net worth- $3.9 billion.
Another name among the top 10 business tycoons in UAE is Joy Alukkas. He is chairman and managing director of Joyalukkas Group, (a leading global jewellery retailer). He started his career in 1956 in Thrissur, India. Then, Joyalukkas Group was not so big, but with time it became one of the giants and has 150 showrooms at present. In addition, it is also spread in 11 countries right from UAE, the US, the UK, and Singapore. Joy Alukkas made all of this happen because he owns the best marketing strategies and even a customer-centric approach. In addition, we have also found that Joy is also involved in philanthropy. He supports various healthcare and education centres too.
Abdulla Al Futtaim
Net worth- $3.8 billion.
Abdulla Al Futtaim is determined to be one of the strong leaders with a visionary, dedication to the community and support for sustainability. He took off Al-Futtaim Group’s roots in the automotive industry. It was in 1995, that they have been one of the exclusive distributors of Toyota in the UAE, and in turn, shaping the nation’s car landscape. Abdulla continues to reach new heights and strengthen his position within the UAE business. No doubt, he played a crucial role in shaping the UAE’s economics and has been the aspiring leader among many.
Dr. Shamsheer Vayalil
Net worth- $3.1 billion.
Shamsheer Vayalil is yet another name in the list of top 10 business tycoons in UAE. But he is also the richest Indian in the world. He is the founder and chairman of VPS Healthcare- the leading private healthcare service provider in the Middle East. He was born in Kerela and earned an MBBS degree. After completing his medical degree he later moved to Abu Dhabi and worked as a radiologist. In 2007, he founded VPS (with a single hospital in Dubai). Dr. Shamsheer Vayalil is no doubt known as the visionary leader. With his skills and ability, he has transformed the landscape of healthcare in the Middle East.
We have the Top 10 Business Tycoons in the UAE, who all have contributed excellence in shaping the UAE landscape. However, if you want to know about them then we have listed them all above. With the help of their expertise, skills and excellence they have contributed in different sectors and changed the face of Dubai.