Richest People in the UAE - Dubai’s Most Exclusive Individuals
Last Updated on : July 12, 2024
Dubai is a metropolis situated in the United Arab Emirates. The region is often considered for its wealth and innovation. 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.
Each of these people are high-net-worth individuals. These tycoons either Emiratis or expatriates from across the globe have made fortunes in a diverse range of sectors. For example, retail, real estate, healthcare, and technology.
From self-made entrepreneurs to members of established family dynasties, these billionaires in Dubai are the driving force behind the city’s phenomenal growth. So, let’s learn about these wealthiest individuals and inspire ourselves to propel us to that level.
Richest People in the UAE
MobileAppDaily Methodology
While figuring out the list of the richest people in the UAE might seem like a simple task, there are essential challenges one might encounter. So, we have broken down the process of curating this list:
Note: Estimating the precise wealth in this Dubai billionaires list of any individual is complex, and is subjected to a degree of uncertainty.
Data Sources:
In this step, we gathered all the necessary information about billionaires in Dubai. This information ranged from financial statements to stock market performance. Our intent to collect this information was to understand the value of holding for each richest person in the UAE. Additionally, we also examined real estate holdings, art collections, and other assets available online to come up with an estimate.
Valuation Technique:
To determine the richest people in Dubai, we assessed the shares held by every billionaire individual. These shares were in the publicly traded domain. Furthermore, we examined the valuation of the private company held individually by each ‘richest man in the UAE’. We assessed cash flow models, multiples of earnings, and other relevant metrics. Finally, we considered different assets owned by the individual ranging from national to international. For example, real estate, yachts, private jets, art & collectibles, etc.
General FAQs
Who is the richest person in the UAE?
The richest man in the UAE is a debate topic. There are two contenders for this position. They are:
Majid Al Futtaim: He is the chairman of Majid Al Futtaim Group, and has a net worth of around $6.2 billion.
Pavel Durov: In terms of ethnicity, he may not be the richest in the region. However, Pavel received his citizenship in April 2021. Also, he is the founder of Telegram with a net worth of $15.5 billion.