June 9, 2023

Dubai Week

Complete Dubai News World

Forbes: 9 Billionaires Live in UAE

Forbes Middle East magazine released a report that tracked the list of nine billionaires living in the United Arab Emirates.

The magazine said in its latest report: “These nine billionaires are not of Arab origin, but they call the Middle East their home, while their total assets are worth $35.6 billion, according to the Forbes Rich List for 2023. . Knowing that they all live in UAE.

Billionaire Pavel Durov (age 38), with a net worth of $11.5 billion in 2023, is on the “Forbes Middle East” list.

Durov is Russian, the youngest richest foreigner in the Middle East, and the only person who made his fortune by working in the technology industry, he is the founder and owner of the electronic messaging application “Telegram”.

As for billionaire Yusuf Ali (67 years old), he is the head of “Lulu International Group” whose revenue exceeds eight billion dollars. Ali hails from a village in the southern Indian state of Kerala, while his net worth is 5.3 billion dollars.

For his part, retail trader Miki Jagdiani (age 71) is the top gainer on the list, with his net worth increasing by $1.9 billion since 2022, making his net worth around $5.2 billion in 2023. According to Forbes Middle East, Jagdiani worked as a taxi driver in London before moving to Bahrain, opening a store selling children’s products in 1973, and his business later became the Landmark Group, headquartered in Dubai.

And “Forbes Middle East” mentions Indian billionaire Ravipillai, who founded the (RP Group) group of companies and earned $7.8 billion in the construction industry. The net worth in 2023 will be around $3.2 billion.

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For his part, billionaire Sunny Vargi (age 66) is the chairman of “GEMS Education Group”, the largest school management group, with a net worth of around three billion dollars in 2023.

Shamsher Wayal, the founder and chairman of “Burjeel Holding Group”, has a net worth of $ 2.2 billion in 2023, which caught the attention of the press.

As for former Thai Prime Minister Thaksin Shinawatra (age 73), he has made Dubai his home for over a decade. The net worth in 2023 will be around $2.1 billion.

Owned by billionaire BNC Menon, Soba’s real estate operations are expanding into the UAE, Qatar, Oman and other Gulf countries, with a net worth of $1.6 billion by 2023, the magazine noted.

He also caught the attention of billionaire Saket Burman (46), the fifth-generation son of the Burman family that founded the Indian conglomerate Dabur. The net worth in 2023 will be around $1.5 billion.