Forbes: 9 billionaires residing in the UAE manage wealth exceeding $ 35.6 trillion

Abu Dhabi – Mubasher: Forbes Middle East magazine said that 9 of the billionaires are not of Arab descent, with a total wealth of $35.6 billion, all residing in the UAE.

Topping the list is Pavel Durov, who made his fortune from working in the technology sector, and his fortune is estimated at $11.5 billion. Durov is the youngest wealthy expatriate in the Middle East.

Billionaire Pavel Durov hails from Russia. He is the founder and owner of the free messaging app Telegram, which has more than 700 million monthly active users around the world. He moved with his Telegram app to Dubai in 2017, and became a French citizen in 2021.

He was followed by Yusuf Ali, Chairman of Lulu International Group, with an estimated fortune of $5.3 billion. Yusuf Ali comes from a village in southern India, and he left for the Emirate of Abu Dhabi in 1973 to join a small project owned by his relative to distribute goods, while reports indicated in April 2022.

Yusuff Ali intends to list his group as a public company in 2023. The retail billionaire owns the Waldorf Astoria Hotel in Scotland, and the grand Scotland Yard hotel, the former headquarters of the British Metropolitan Police.

Third on that list was Indian billionaire Micky Jagtiani, who is a retail tycoon with a fortune of $5.2 billion. Micky Jagtiani owns the Dubai-based Landmark Group, which has 2,200 stores in 24 countries in the Middle East, the African continent, Southeast Asia, and the Indian subcontinent.

And fourth on that list was Indian billionaire Ravi Pillai, with a fortune of $3.2 billion. Pillay, who is based in Dubai, started his business in 1978, and founded the RP Group, a group of companies specializing in the construction sector, which achieved revenues of $ 7.8 billion.

He was followed by Indian billionaire Sunny Varkey, head of the GEMS Education Group, with a fortune of $3 billion. Then Shamsher Vayalil, founder and chairman of the Board of Directors of Burjeel Holding Company, listed on the Abu Dhabi Stock Exchange, with a fortune of $ 2.2 billion.

He was followed by the Indian billionaire Thaksin Shinawatra, who has been home to the Emirate of Dubai for more than a decade, and owns a majority stake in (SC Asset) along with other investments, whose wealth is estimated at $ 2.1 billion.

He was followed by the billionaire who holds an Omani nationality, BNC Menon, who works in the real estate sector and has an estimated fortune of $1.6 billion, followed by the billionaire. Saket Burman, who has a net worth in 2023 of about $ 1.5 billion, holds British citizenship and works in the field of consumer goods, and who founded Dabur, the fourth largest consumer goods company in India.

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