According to Forbes, the wealth of half of the world’s billionaires has declined compared to last year.
Business tycoons based in the UAE have bagged prominent positions in the Forbes’ 37th annual world’s billionaires list.
The top 10 UAE residents featured in the list are Pavel Durov, Yusuffali M.A., Micky Jagtiani, Hussain Sajwani, Ravi Pillai, Abdulla bin Ahmad Al Ghurair, Sunny Varkey, Joy Alukkas, Abdulla Al Futtaim and family, and Dr Shamsheer Vayalil.
Pavel Durov, the founder of Telegram messenger, has retained his position as the richest businessman living in the UAE with a net worth of $11.5 billion. He has grabbed the 148th position.
Securing the 497th position in the list is retail magnate Yusuffali, chairman of Lulu Group, who has a net worth of $5.3 billion.
Ranking 511 on the list is Micky Jagtiani, chairman of Landmark Group, with a net worth of $5.2 billion.
He is followed by Hussain Sajwani, founder and CEO of DAMAC Properties, at the 611th position with a net worth of $4.5 billion.
Ravi Pillai, chairman and MD of RP Group, with a net worth of $3.2 billion has secured the 905th rank.
Abdulla bin Ahmad Al Ghurair, founder of Mashreq Bank, and Sunny Varkey, founder of GEMS Education Group, are tied together at 982nd place with a net worth of $3 billion each.
Joy Alukkas, chairman and managing director of Joyalukkas Group, ranks 1,067 with a net worth of $2.8 billion.
He is followed by Abdulla Al Futtaim and family, who own the conglomerate Al Futtaim Group, with a global rank of 1,272 and a net worth of $2.4 billion.
The 10th entrepreneur from the UAE to be named in the list is Dr. Shamsheer Vayalil, founder and chairman of Burjeel Holdings, with a net worth of $2.2 billion and featured in the 1,368 position.
Durov and Dr. Shamsheer are among the youngest UAE residents featured in the list.
According to Forbes, the wealth of half of the world’s billionaires has declined compared to last year. As many as 254 people were dropped from the list, while 150 billionaires made it to the list for the first time.
News Source: Khaleej Times