There are so many billionaires currently living in Dubai. There are investors, businessmen and women, and others. Dubai which is one of the emirates of the United Arab Emirates is well known for affluence. Though there are many billionaires in Dubai, there certainly is the richest.
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Who is the richest man in Dubai?
When we want to talk about the richest man in Dubai only one name comes to play. He is Majid Al Futtaim.
He ranks as the number one billionaire with a net worth of $6.1 billion according to Forbes analysis. For him to be extremely wealthy, he definitely has a source of his income.
What is the source of income for billionaire Majid Al Futtaim?
His source of wealth is primarily from Majid Al Futtaim Holding, a retail and entertainment conglomerate that was founded in the 1990s.
Since its inception, his business empire has grown rapidly to become one of the largest in the whole United Arab Emirates with so many stores across the Middle East, North Africa, and Central Asia region. This has made Majid Al Futtaim acquire a billionaire status.
His net worth is expected to grow significantly in the coming years. His business empire is still expanding to other territories owning exclusive rights to operate franchises of Abercrombie & Fitch, AllSaints, Lululemon Athletica, and Carrefour.
