In 2004, Musk became a major funder of Tesla Motors (now Tesla), which led to his current position as CEO of the electric vehicle company. In addition to its line of electric automobiles, Tesla produces energy storage devices, automobile accessories, and, through its acquisition of SolarCity in 2016, solar power systems. Musk is also CEO and chief engineer of Space Exploration Technologies (SpaceX), a developer of space launch rockets. He was born in South Africa and attended a university in Canada before transferring to the University of Pennsylvania, where he earned bachelor’s degrees in physics and economics. This was followed by multiple reports stating that Africa’s richest man, Nigerian billionaire Aliko Dangote, is reportedly setting up a family office in Dubai.
- This includes the Entrepreneur of the Year, the 2009 Asian Awards, an honorary doctorate from Excelsior College.
- Al Ghurair was born in 1924 and is the eldest of the five sons of Ahmed Al Ghurair.
- He has received his prosperity and wealth by investing in Mashreq, which is known as the oldest private bank in the United Arab Emirates.
- They come from all over the world, hailing from 10 countries on four continents.
- The United Arab Emirates (UAE) is a wealthy country situated on the Arabian Peninsula, with its major cities, Sharjah and Abu Dhabi, ranking number 11 and 10 respectively, for the highest GDP capita worldwide.
Ravi Pillai Net Worth – $4.2 Billion
With all that wealth in one place, it’s natural to wonder who the richest person in Dubai is. Read on to discover who the richest man in Dubai is and how he made his billions of dollars. The city’s unique architecture and modern innovations clearly reflect its status. Dubai ranks as the second most expensive city in the Middle East and 20th across the globe. Despite its relatively small size, the city is home to over 3.3 million people.
Oracle is the world’s second-largest software company, providing a wide variety of cloud computing programs as well as Java and Linux code and the Oracle Exadata computing platform. Oracle has acquired numerous large companies over its history, such as Sun Microsystems and Cerner. In 1977, Ellison founded Software Development Laboratories alongside Oates and Miner. Two years later, the company released Oracle, the first commercial relational database program to use Structured Query richest man in dubai Language. The database program proved so popular that SDL changed its name to Oracle Systems Corporation in 1982.
Meet the top 10 UAE-based businessmen in Forbes world’s billionaires list
“Dubai and DIFC have rapidly positioned themselves as the premier destination for family businesses worldwide. The exponential growth and expertise witnessed within the Centre, underscores its pivotal role in shaping the landscape of family wealth,” said Essa Kazim, governor of DIFC. A significant portion of Dubai’s wealth stems from home-grown billionaire family businesses, which have flourished under the favorable legislative and business climate. The UAE’s Minister of Economy, Abdulla bin Touq Al Marri, highlights Dubai’s pivotal role in nurturing family wealth, providing abundant opportunities for growth and preservation.
He also owns the major stakes in Emaar Properties, which he co-founded with Mohammed bin Rashid Al Maktoum. Unfortunately, Saif Al Ghurair died on 27th August 2019 and was buried in Dubai in Qusais Cemetery. Emaar Properties, the developer behind Emirates Hills, was founded in 1997 by Mohamed Alabbar. He stepped down as chairman in 2020 and now draws most of his wealth from a 33% stake in publicly traded restaurant operator Americana Restaurants International, worth $2.4 billion.
Chairman – Aster DM Healthcare
In 1967, Abdulla bin Ahmad Al Ghurair founded Mashreqbank, which has since grown into one of the leading banks in the United Arab Emirates. He is the chairman of an Abu-Dhabi firm, Centurion Investments that looks after the investments in money exchange, health care and retail. His wealthiest and most profitable stake is in NMC Health (a London-listed firm ). Importantly, Dubai also became a hub for fund management professionals which helped the family-owned businesses and millionaires to manage their assets professionally. These family businesses employ hundreds of thousands of people in the UAE. Dubai is a renowned global city and a key part of the United Arab Emirates (UAE).
Who Are the Top 10 Richest People in the World?
Yusuff Ali Musaliam Veettil Abdul Kader (M.A Yusuff Ali) is a very popular Indian billionaire and businessman. He is the managing director and chairman of LuLu Group International, the very popular Group of Industries that includes LuLu International Shopping Mall and LuLu Hypermarket chain across the world. Mukesh Wadhumal Jagtiani aka Micky Jagtiani is one of the top billionaire businessmen in Dubai. Sergey Brin was born in Moscow, Russia, moving to the U.S. with his family when he was six in 1979. After co-founding Google with Larry Page in 1998, Brin became Google’s president of technology when Eric Schmidt took over as CEO in 2001.
And Kabir Mulchandani—a newcomer to this year’s World’s Billionaires list—owns FIVE Holdings, which largely owns hotels but also has luxury residences on Palm Jumeirah. “The UAE has long been the primary and preferred destination for business and investment in the GCC and wider Mena region. Similarly, the UAE aims to become the regional centre for family businesses… Dubai stands as a pivotal hub for family wealth, offering unparalleled opportunities and resources for growth and preservation,” said Abdulla bin Touq Al Marri, UAE’s Minister of Economy.