Hussain Sajwani lost the most this year in percentages, with his fortune down 41 percent thanks to a weakened real estate market. Ahmed Galal Ismail was appointed as CEO of Majid Al Futtaim Properties in November 2018. Here are the richest and wealthiest people in Dubai, AE.The person with the highest net worth in Dubai, AE is Sheikh Mohammed bin Rashid al Maktoum. At the helm of Dubai-based conglomerate Majid Al Futtaim, Alain Bejjani returns to Construction Week’s annual ranking of 100 most influential construction industry leaders in 2020. The net worth of Majid Al Futtaim and family shrank by $1.8 billion to $3.3 billion, making him the fifth wealthiest Arab in 2020. The net worth in 2020 is $3.3 billion. Majid Al Futtaim to add $1.3bn in Oman by 2020 The UAE developer's total Oman investments will be worth $1.8bn by 2020, and will include the $714m Mall of Oman and $116m City Centre Sohar Majid Al Futtaim's Oman portfolio includes the Al Mouj, Muscat waterfront project. Arab billionaires’ total wealth declined 19.4% from a total of $58.7 billion to $47.3 billion, dropping by $11.4 billion—more than the wealth of the two richest people in the Arab world combined. His wealth is known to have originated from his company named Majid Al Futtaim Holding (MAF). Majid Al Futtaim is the brother of billionaire Abdulla Al Futtaim. UAE-headquartered family-owned business conglomerate Majid Al Futtaim said its Carrefour-branded chain of stores in Jordan would be solar-powered by 2020, with the company awarding a contract to Yellow Door Energy for the scheme. 20,832 Fans Like. The decrease in his net worth is primarily due to his recent divorce. Find Out More. Of the billionaires who remain, 51% are poorer than they were last year. June 3, 2020. His company's most notable properties include the Mall of the Emirates, complete with an indoor ski slope, and the Mall of Egypt that opened in March 2017. The net worth of Majid Al Futtaim and family dropped by $1.8 billion, or 35%, as his Eponymous company made a loss in 2019. Majid Al Futtaim REUTERS/Jumana ElHeloueh Al Futtaim’s Dubai-based real estate and retail company owns shopping malls and hotels in the Middle East, Pakistan, Georgia, and … Abdulla Al Futtaim has emerged as this year’s fifth richest person in the UAE, with a total net worth of $3.2 billion. In the past 12 months, Majid Al Futtaim has marked several milestones across the Middle East. Director of Ferrovial since 2016. 1. In 2020, Majid Al Futtaim's net worth was estimated to be $ 6 Larry Ellison (United States) – $55.6B District cooling companies deliver chilled water through […] ... businessman, and a variety of business network operators. His net worth grew 43.4% to $3.3 billion from $2.3 billion last year, making him the fourth richest Arab. Director of Ferrovial since 2016. 3. The group was established by Majid Al Futtaim in 1992. Will you take the vaccine when it comes out? New Flagship Community in Dubai. Yusuff on the 338th spot with an estimated net worth of $5.01 billion, and Al Ghurair Group founder Abdullah Al Ghurair at 474 on the list with a net worth of $3.85 billion. Since, last 28 years the company is growing rapidly and coming up with new ventures. Mohammed Mansour was the year’s biggest gainer in absolute terms, gaining $1 billion. Richest. Director of Ferrovial since 2016. He was the CEO of Majid Al Futtaim Ventures for 10 years overseeing seven business verticals including fashion retail, leisure and entertainment, cinemas, financial services and facilities management. 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Forbes didn’t include Saudi Arabian billionaires on its list for the third year running, making Egypt and Lebanon the most represented countries on the 2020 list. Company: Majid Al Futtaim Group The Middle East can thank Majid for its first Lego store, along with a myriad of shopping malls, retail and leisure venues in the Middle East and North Africa. The company raised two Green Sukuks worth $1.2 billion, with the first issuance in May becoming the world’s first … Majid Al Futtaim Chief Executive Officer Alain Bejjani discusses the company’s pledge to sustainability. The third richest man in Dubai is Majid Al Futtaim. Majid Al Futtaim performs annual audits and reports on its sustainability progress. Majid Al Futtaim has a net worth of $3.3 billion and ranked 590 on Forbes' world billionaires list 2020. No.5 : Founded in 1950 by Rashed Al-Rashed, Saudi’s Rashed Abdul Rahman Al-Rashed & Sons Group has 26 wholly-owned companies. 8. Net worth: $5 billion. Director of Ferrovial since 2016. Forbes Middle East has unveiled its annual list of the world’s richest Arabs for 2017. Egyptian Nassef Sawiris is again the world’s richest Arab world, with $5 billion. He is the owner and president of Majid Al Futtaim Group, which he founded in 1992 after splitting the Al Futtaim empire with his cousin. Majid Al Futtaim; He is the richest ... His net worth was 3 billion in 2020 and growth exceeded 15% compared to previous years. Al-Ghurair The group manages a number of residential, industrial and hospitality businesses. Personal life . The Abu Dhabi-based group had revenue of about $7.8 billion in 2018. 10 Francoise Bettencourt Meyers (France) – $53.4B, World’s top billionaires from 6 countries named, Philippines’ Manny Villar named one of world’s richest billionaires, For all the latest news from the UAE and the world, follow us on Facebook, Twitter and Instagram and subscribe to our YouTube page, New concept store THAT opens at Mall of Emirates, Sharjah to enhance trade ties with Malaysia, UAE bank customers stand chance to win SUVs, luxury watches, No VAT when you shop at these stores during DSF this week, Finablr sold for $1 to UAE-Israel consortium, Yearly Covid-19 vaccine may be needed to fight new variants, UAE authorities say, Getting vaccinated in Dubai? Al Futtaim is married and lives in Dubai. June 2, ... Tag: Majid Al Futtaim. Majid Al Futtaim has a net worth of $3.3 bn. Majid Al Futtaim is the first company headquartered in the Middle East – and one of only a few globally – to commit to becoming Net Positive; and in November 2019, it also became the first company in MENA to commit to phase-out single-use plastics from its operations by 2025. Majid Al Futtaim REUTERS/Jumana ElHeloueh Al Futtaim’s Dubai-based real estate and retail company owns shopping malls and hotels in the Middle East, Pakistan, Georgia, and Armenia. Non-executive Chairman of Tegel Group Holdings Limited, Sky Network Television Limited and Majid Al Futtaim Properties; Non-executive director of its parent company, Majid Al Futtaim Holding LLC; and non-executive director of Kathmandu Holdings Limited and Better Capital. 2 Bill Gates (United States) – $97.9B Majid Al Futtaim ranked #590 on Forbes World’s Billionaires list 2020 with a net worth of $3.3 billion. His company's most notable properties include the Mall of the Emirates, complete with an indoor ski slope, and the Mall of Egypt that opened in March 2017. 0. He his a well know business man, the founder and CEO of Majid Al Futtaim Group, an Emirati real estate and retail conglomerate, with project in some other continent like Asian and Africa, founded in year 1992.Al Futtaim is married and also lives in Dubai. His company also has a license to operate hypermarkets for French company Carrefour across the Middle East, North Africa, and Central Asia. Activity: Real estate- retail. The family patriarch is well-known industrialist Majid Al Futtaim, who is listed by Forbes as one of the 10 wealthiest men in the UAE with a current net worth of approximately $4.8 billion. Its LuLu Hypermarket chain has more than 180 stores across the Gulf. Majid Al Futtaim landed on the 305th spot, followed by Lulu Group founder M.A. ... Abdullah Al Futtaim Chairman of the Al-Futtaim Group, one of the largest Emirati family businesses. Want to be the first to hear about career opportunities at our pioneering company? Majid Al Futtaim is the sole owner and operator of the Carrefour stores, which currently total more than 320 and are located in 16 of the 30 countries. Majid Al Futtaim is the richest man in Dubai with an astounding fortune of $6.2 billion. According to the list, Al Futtaim is also the richest billionaire in the UAE with an estimated net wroth of $5.30 billion. Prince Al-Waleed bin Talal bin Abdul Aziz al Saud But that source was probably wrong as it seems Saudi Arabia's Prince Al-Waleed bin Talal bin Abdul aziz al Saud has a worth of $25.5billion. Environment The Masdar Institute launched a Seawater Energy and Agriculture System pilot project in 2015 which was aimed at preserving the environment while catering for the...Read More. Non-executive Chairman of Tegel Group Holdings Limited, Sky Network Television Limited and Majid Al Futtaim Properties; Non-executive director of its parent company, Majid Al Futtaim Holding LLC; and non-executive director … Richest people in the united arab emirates as of 2020 according to forbes magazine 1. abdulla bin ahmad al ghurair he is the founder and chairman of mashreqbank, one of the leading banks in the united arab emirates. With a net worth estimated by forbes to be $6.1 billion, majid al futtaim ranks as the richest person in dubai. Majid Al Futtaim is owner and operator of 21 shopping malls in the region and has exclusive rights to the Carrefour franchise in 38 markets in the Middle East, Africa and Asia. ICA/Expat Media, 1 Jeff Bezos (United States) – $117B The Dubai-based business operates in the Middle East, Pakistan, Georgia and Armenia, and owns 26 shopping malls and 13 hotels. According to the list, Al Futtaim is also the richest billionaire in the UAE with an estimated net wroth of $5.30 billion. Hussain Sajwani lost the most this year in percentages, with his fortune down 41 percent thanks to a weakened real estate market. Richest people in the united arab emirates as of 2020 according to forbes magazine 1. abdulla bin ahmad al ghurair he is the founder and chairman of mashreqbank, one of the leading banks in … Majid Al Futtaim is the first company headquartered in the Middle East - and one of only a few globally - to commit to becoming Net Positive; and in November 2019, it also became the first company in MENA to commit to phase-out single-use plastics from its operations by 2025. Philip Day; As the son of the British parents, He was born in Dubai. Majid Al Futtaim net well worth according to 2015 stats is usually $6,500,000,000.5 Billion: Majid Al Futtaim may be the estranged brother of billionaire Abdulla Al Futtaim. In 2020, his net wealth is 1.9 billion increased by 15% comparing 2019. Al Futtaim is the founder and sole owner of Majid Al Futtaim Holding, a real estate and retail company. Dubai’s Majid Al Futtaim (MAF) is putting its district cooling unit up for sale. Majid Al Futtaim Chief Executive Officer Alain Bejjani discusses the company’s pledge to sustainability. Majid Al Futtaim is one of the largest company in UAE, an Emirati holding company established in 1992 founded by Mr Majid Al Futtaim. 3 Bernard Arnault (France) – $74.6B As of March 18, when Forbes finalized its 2020 World Billionaires list, it counted 2,095 billionaires—58 fewer than last year, and 226 fewer than March 6, just 12 days earlier, when it initially calculated net worth. Net Worth: $7 Billion: Nationality: Emirati: Spouse: Married: IMDB: http://www.imdb.com/name/ Please share your email address and tell us a bit about yourself to stay connected to opportunities and … The net worth of Majid al-Futtaim and his family dropped by $1.8 billion, or 35 percent, following the enormous loss of his company “Eponymous” company in 2019. Majid Al Futtaim is one of the leading drivers of economic growth and impact in the Middle East and North Africa and is a leading foreign direct investor and a catalyst for the region’s economy. He is the first cousin of Abdulla Al Futtaim, another Arab billionaire, with whom Majid Al Futtaim worked closely during the start of … Hussain Sajwani lost the most this year in percentage terms, with his fortune down 41% due to a weak real estate market. Arab billionaires were also not insulated from the downturn, with the number of billionaires reduced to 21, down from 24 last year, with three billionaires dropping off the list, one passing away and one making a comeback. What's On. Media Centre. Majid Al FUTTAIM ; Country: the United Arab Emirates. It operates in construction and building materials, real estate, contracting, industrial, automotive, and food products. Non-executive Chairman of Tegel Group Holdings Limited, Sky Network Television Limited and Majid Al Futtaim Properties; Non-executive director of its parent company, Majid Al Futtaim Holding LLC; and non-executive director of Kathmandu Holdings Limited and Better Capital. Image credit: Al-Futtaim Group. 4 Warren Buffett (United States) – $70.5B Majid Al Futtaim is one of the largest company in UAE, an Emirati holding company established in 1992 founded by Mr Majid Al Futtaim. With a net worth estimated by forbes to be $6.1 billion, majid al futtaim ranks as the richest person in dubai. American Singer Billy Joel Net Worth By Forbes.com In 2020. DUBAI – Three businessmen from the UAE whose names are synonymous with big brands in the country have been named among the world’s top billionaires in Bloomberg’s Billionaires Index on Sunday (March 29). The list also featured Jack Ma, 17th on the list and the richest billionaire from China with an estimated net worth of $$43.0 billion, India’s Mukesh Ambani on the 19th spot with a net worth of $39.5 billion, Saudi Arabia’s Prince Alwaleed Al Saud in the 90th spot with $12.9 billion and the Philippines’ richest billionaire Manny Villar with a net worth of $5.16 billion. Want to be the first to hear about career opportunities at our pioneering company? Naguib Sawiris came in the sixth place with a net worth of $3 billion, followed by Yasseen Mansour with $2.2 billion, the Lebanese Taha Mikati and Najib Makati with $2.2 billion and $2.1 billion, respectively, and the Omani Suhail Bahwan with $2.1 billion. The company’s net worth is 3.6 billion USD in 2020, as per the reports. Majid Al Futtaim hired HSBC to find buyers. Follow us. The cooling unit company comprises chillers connected to its hotels and shopping malls. 8 Larry Page (United States) – $54.6B Majid Al Futtaim has a net worth of $3.3 bn. The net worth of Majid al-Futtaim and his family dropped by $1.8 billion, or 35 percent, following the enormous loss of his company “Eponymous” company in 2019. Majid Al Futtaim operates more than 500 VOX Cinemas screens and 34 Magic Planet family entertainment centres across the region, in addition to … While Abdulla Al Futtaim retained the automotive and retail businesses, Majid Al Futtaim took over the firm’s property development business which is now known as the Majid Al Futtaim Group, another business giant in Dubai. His eponymous business usually shortened to MAF has $10.6 billion in annual revenues and is making more every single year. Hussain Sajwani lost the most this year in percentage terms, with his fortune down 41% due to a weak real estate market. Non-executive Chairman of Tegel Group Holdings Limited, Sky Network Television Limited and Majid Al Futtaim Properties; Non-executive director of its parent company, Majid Al Futtaim Holding LLC; and non-executive director of Kathmandu Holdings Limited and Better Capital. Image credit: Al-Futtaim Group. The richest people on Earth are not immune to the coronavirus. No.5 : Founded in 1950 by Rashed Al-Rashed, Saudi’s Rashed Abdul Rahman Al-Rashed & Sons Group has 26 wholly-owned companies. The Al Futtaim Group is a Dubai based conglomerate active in retail, automotive, technology and real estate.. Al-Futtaim operates more than 65 companies and employs more than 20,000 people.Al Futtaim Motors. He’s Majid Al Futtaim and is said to be the richest person in the Middle East with a net worth of $10.9 billion. Citizenship: United Arab Emirates. It owns the UAE’s largest flour mill, a commodities trader, a water company, an animal-feed producer, as well as hotels, apartments and a Dubai shopping mall. According to Forbes, Al Futtaim has a net worth of US$3.6 billion, as of September 2020. Notable buildings . As the pandemic tightened its grip at the start of 2020, global equity markets imploded, tanking many fortunes. The top 10 families employ 600,000 people have a net worth of more than $31 billion (Dh114 billion). ... Abdullah Al Futtaim Chairman of the Al-Futtaim Group, one of the largest Emirati family businesses. The company is a retail and entertainment conglomerate that has grown to be one of the largest companies in the emirate since its inception in 1992. Majid Al Futtaim Majid owns a company by the name Majid Al Futtaim Holding which operates 12 hotels and 21 malls, including Mall of the Emirates in Dubai and the Mall of Egypt in Cairo. 7 Steve Ballmer (United States) – $55.1B Majid Al Futtaim has a net worth of $3.3 billion and ranked 590 on Forbes' world billionaires list 2020. Tuesday, 30 June 2020. His wealth is valued at $113 billion. Egypt Vox Cinemas complex worth $65.5m, MAF says ... Property developer Majid Al Futtaim will build four neighbourhood centres in Cairo’s new residential cities, and four shopping malls in greater Cairo as a part of its $3bn (EGP22.5bn) investment in the country. In 2019, the company registered several significant sustainability firsts. Majid Al Futtaim also operates the Middle East franchise of French retailer Carrefour. Majid Al Futtaim landed on the 305th spot, followed by Lulu Group founder M.A. Since, last 28 years the company is growing rapidly and coming up with new ventures. The company raised two Green Sukuks worth $1.2 billion, with the first issuance in May becoming the world’s first benchmark-size corporate bond of its kind. Here are the richest and wealthiest people in Dubai, AE.The person with the highest net worth in Dubai, AE is Sheikh Mohammed bin Rashid al Maktoum. 7. The U.A.E has four billionaires, down from seven last year. Tuesday, 30 June 2020. According to Forbes, Al Futtaim has a net worth of US$3.6 billion, as of September 2020. Notable buildings . The company’s net worth is 3.6 billion USD in 2020, as per the reports. Top 10 Richest People of UAE 2017. admin-June 2, 2016. Majid Al Futtaim is the sole owner and operator of the Carrefour stores, which currently total more than 320 and are located in 16 of the 30 countries. With a net worth estimated by Forbes to be $6.1 billion, Majid Al Futtaim ranks as the richest person in Dubai. Majid Al Futtaim is a multi billionaire, And also recognise has the one of the richest in Dubai. Majid Al Futtaim (Arabic: ماجد الفطيم ‎) is an Emirati holding company based in Dubai, that as of 2015 owned and operated shopping malls, retail, and leisure establishments in the Middle East and North Africa, with operations in 13 countries . His company also has a license to operate hypermarkets for French company Carrefour across the Middle East, North Africa, and Central Asia. Personal life . Majid Al Futtaim Majid owns a company by the name Majid Al Futtaim Holding which operates 12 hotels and 21 malls, including Mall of the Emirates in Dubai and the Mall of Egypt in Cairo. Al Ghurair is founder of Al Ghurair, a United Arab Emirates-based family-owned conglomerate. Al Futtaim is the founder and sole owner of Majid Al Futtaim Holding, a real estate and retail company. 5. Its retail division manages more than 300 Carrefour-branded stores. Yusuff on the 338th spot with an estimated net worth of $5.01 billion, and Al Ghurair Group founder Abdullah Al Ghurair at 474 on the list with a net worth of $3.85 billion. Majid Al Futtaim – $6.2 billion. Yusuff Ali is the founder and managing director of LuLu Group International, an operator of supermarkets, shopping malls and hotels in the Middle East, Asia, Africa and the UK. ... 09 Nov 2020. Majid Al Futtaim – Net worth: $6.1 Billion. … The net worth of Majid Al Futtaim and family dropped by $1.8 billion, or 35%, as his Eponymous company made a loss in 2019. In raw terms, the world’s billionaires are worth $8 trillion, down $700 billion from 2019. Majid Al Futtaim is the first company headquartered in the Middle East - and one of only a few globally - to commit to becoming Net Positive; and in November 2019, it also became the first company in MENA to commit to phase-out single-use plastics from its operations by 2025. As of October 2018, Abdulla Al Futtaim’s net worth was estimated at $3.1 billion. nonfamily members work his eponymous holding organization, which works malls and Carrefour hypermarkets over the Middle East, North Africa, and Central Asia. Majid Al Futtaim Group. Al Futtaim is married and lives in Dubai. Please share your email address and tell us a bit about yourself to stay connected to opportunities and … 9 Amancio Ortega (Spain) – $54.3B He founded retailing and entertainment giant Majid Al Futtaim Holding (MAF), in 1992. The top 10 families employ 600,000 people have a net worth of more than $31 billion (Dh114 billion). 5 Mark Zuckerberg (United States) – $60.2B A 21.9% drop from $6.4 billion last year. 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