Top 10 Richest People in Dubai/UAE – Net Worth, Achievements & Surprising Facts
Top 10 Richest People in Dubai
Dubai and the UAE are synonymous with luxury, prosperity, and ambitious entrepreneurship. Beyond the city’s iconic skyline and lavish lifestyle, a select group of ultra-wealthy individuals—often recognized as the richest people in Dubai—play a pivotal role in shaping the region’s economy and international reputation. According to the 37th annual Forbes World’s Billionaires List, several Dubai-based business magnates and Dubai’s richest men have secured their positions among the world’s wealthiest in 2025, highlighting the UAE as a hub for global billionaires.
From tech innovators and retail giants to real estate moguls, these billionaires are more than just wealthy. Many of the richest people in Dubai are powerful influencers, philanthropists, and visionaries driving the UAE’s non-oil economic growth and global business presence.
In this guide, we highlight the top 10 richest people living in the UAE, including some of Dubai’s richest men as of 2025. You’ll discover their net worth, core businesses, philanthropic work, interesting facts, and quotes that continue to inspire millions worldwide.
Let’s take a closer look at the industry leaders shaping the UAE’s future and strengthening its position on the global stage.
1. Pavel Durov – Founder of Telegram
Nationality: Russian-Emirati
Net Worth (2025): $15 billion
Profession: Tech Entrepreneur
Education: Saint Petersburg State University
Quote: “Privacy is freedom.”
Pavel Durov, the founder of the globally popular messaging app Telegram, is often called the “Mark Zuckerberg of Russia.” After leaving Russia, he became a UAE resident and moved Telegram’s headquarters to Dubai, placing him among the richest people in Dubai and aligning closely with the emirate’s vision for a thriving digital economy.
Under Durov’s leadership, Telegram has grown to over 900 million active users worldwide. Known for his firm stance on privacy and free speech, he is widely regarded as one of the most influential tech entrepreneurs and a prominent name among Dubai’s richest men in the technology sector.
Fun Fact: Durov follows a minimalist lifestyle and is often seen in black clothes, mirroring Steve Jobs’ iconic style.
Philanthropy: Supports digital rights initiatives and contributes to cybersecurity education globally.
2. Yusuff Ali M.A. – Chairman, Lulu Group International
Nationality: Indian
Net Worth (2025): $5.4 billion
Profession: Retail Tycoon
Education: University of Calicut
Quote: “Success is sweet but the secret is sweat.”
Yusuff Ali is the visionary behind LuLu Group, a global retail empire with hypermarkets across the GCC, Asia, and other international markets. From a single store in the UAE, his business has grown into a multinational operation employing over 65,000 people, placing him among the richest people in Dubai and the wider UAE.
Beyond business, he is widely respected for his philanthropic efforts, particularly supporting Indian expats in the Gulf and contributing to international disaster relief initiatives, reinforcing his reputation as one of Dubai’s richest men with a strong social impact.
Fun Fact: Yusuff Ali was one of the first investors in the Kochi International Airport project in India.
Philanthropy: Has donated millions for education, healthcare, and housing for low-income workers.
3. Micky Jagtiani – Founder of Landmark Group
Nationality: Indian (UAE-based)
Net Worth (2025): $5 billion
Profession: Retail & Hospitality
Education: School dropout
Quote: “Success is not a destination, it’s a journey.”
Although Micky Jagtiani passed away in 2023, his family continues to uphold his legacy. Landmark Group remains one of the Middle East’s largest retail and hospitality conglomerates, with iconic brands such as Centrepoint and Home Centre, and its founder is still remembered among the richest people in Dubai.
Fun Fact: Jagtiani started his empire by selling baby products from a small store in Bahrain.
Philanthropy: Founded the LIFE Foundation, focusing on education and healthcare for the underprivileged.
4. Hussain Sajwani – Founder of DAMAC Properties
Nationality: Emirati
Net Worth (2025): $4.5 billion
Profession: Real Estate Developer
Education: University of Washington
Quote: “Opportunities are endless in the UAE.”
Hussain Sajwani is the driving force behind DAMAC Properties, one of Dubai’s top luxury real estate developers. Famous for high-profile collaborations with brands like Versace, Fendi, and even Donald Trump, Sajwani is recognized as one of the richest people in Dubai, having significantly shaped the emirate’s luxury real estate market.
Fun Fact: DAMAC is known for gifting Lamborghinis with luxury apartments during special promotions.
Philanthropy: Significant donor to the “1 Billion Meals” initiative and supporter of UAE’s humanitarian causes.
5. Ravi Pillai – RP Group Founder
Nationality: Indian
Net Worth (2025): $3.5 billion
Profession: Construction & Healthcare
Education: Kerala University
Quote: “Hard work and compassion can build empires.”
Ravi Pillai heads the RP Group, with business interests spanning construction, healthcare, and hospitality. Employing over 100,000 people, his enterprise ranks among the Gulf’s largest employers of blue-collar workers, making him one of the richest people in Dubai and a notable figure in the region’s business landscape.
Fun Fact: His daughter’s wedding in India cost over $7 million and was dubbed one of the most lavish Indian weddings ever.
Philanthropy: Active in labor welfare, building schools and hospitals for workers’ families.
6. Abdulla bin Ahmad Al Ghurair – Al Ghurair Group
Nationality: Emirati
Net Worth (2025): $3.4 billion
Profession: Banker & Industrialist
Education: American University of Beirut
Quote: “Build legacies, not empires.”
Abdulla Al Ghurair, one of the UAE’s most established billionaires, is renowned for founding Mashreq Bank, a leading financial institution in the country. His business empire spans food, real estate, and education, securing his place among the richest people in Dubai and the broader UAE.
Fun Fact: Despite being semi-retired, he actively chairs education-focused initiatives.
Philanthropy: Founded the Abdulla Al Ghurair Foundation for Education (AGFE), supporting thousands of Arab students across the region.
7. Sunny Varkey – GEMS Education Founder
Nationality: Indian
Net Worth (2025): $2.6 billion
Profession: Education Mogul
Education: University of Mumbai
Quote: “Education is the engine of progress.”
Sunny Varkey heads GEMS Education, the world’s largest private K‑12 school operator. With over 60 schools in the UAE and operations in 14 countries, GEMS educates hundreds of thousands of students. As one of the richest people in Dubai, Varkey is also recognized among Dubai’s top tycoons and the wealthiest UAE residents, making him a major figure in global education and philanthropic initiatives.
Fun Fact: Varkey is a UNESCO Goodwill Ambassador for education partnerships.
Philanthropy: Established the Varkey Foundation to promote quality education in underprivileged regions.
8. Joy Alukkas – Founder of Joyalukkas Jewellery
Nationality: Indian
Net Worth (2025): $2.2 billion
Profession: Jewellery Retailer
Education: NA
Quote: “Every jewel has a story.”
Joy Alukkas is the founder of Joyalukkas, one of the world’s largest jewellery retail chains. From a single store in Abu Dhabi, his empire now spans 11 countries, earning him a spot among the richest people in Dubai. He is also regarded as one of the Dubai richest men and a notable figure in the top 10 richest people list in the UAE’s business landscape.
Fun Fact: He was the first jeweller in the Gulf to get ISO certification for quality management.
Philanthropy: Regular donor to health campaigns, flood relief, and emergency disaster funds in India.
9. Abdulla Al Futtaim & Family – Al-Futtaim Group
Nationality: Emirati
Net Worth (2025): $2 billion
Profession: Conglomerate Leader
Education: NA
Quote: “Build today for tomorrow.”
The Al-Futtaim Group is one of the UAE’s most established business families, with major interests in automotive (Toyota), retail (IKEA, Ace), and real estate. Abdulla Al Futtaim is recognized for his conservative yet innovative approach to business, making him one of the richest people in Dubai and a prominent Dubai billionaire featured in the top 10 richest people list in the UAE.
Fun Fact: The group owns the popular Dubai Festival City Mall.
Philanthropy: Focuses on sustainability and education through the Al-Futtaim Foundation.
10. Dr. Shamsheer Vayalil – VPS Healthcare Founder
Nationality: Indian
Net Worth (2025): $1.9 billion
Profession: Healthcare Entrepreneur
Education: MBBS, Radiology
Quote: “Healthcare is a right, not a privilege.”
Dr. Shamsheer Vayalil transformed his medical career into a healthcare empire with VPS Healthcare, operating 24 hospitals and 125 clinics across the Middle East and India. He is recognized as one of the richest people in Dubai and stands out among Dubai’s top tycoons and UAE billionaires for his contributions to the healthcare sector.
Fun Fact: He is the son-in-law of Yusuff Ali, creating a billion-dollar business dynasty.
Philanthropy: Major donor to medical camps, emergency surgeries, and pandemic relief efforts.
Billionaire Wealth Distribution (2026)
Name | Net Worth (Billion USD) | Industry |
|---|---|---|
Pavel Durov | $15.0 | Technology |
Yusuff Ali M.A. | $5.4 | Retail |
Micky Jagtiani (Family) | $5.0 | Retail/Hospitality |
Hussain Sajwani | $4.5 | Real Estate |
Ravi Pillai | $3.5 | Construction |
Abdulla Al Ghurair | $3.4 | Banking |
Sunny Varkey | $2.6 | Education |
Joy Alukkas | $2.2 | Jewellery Retail |
Abdulla Al Futtaim & Family | $2.0 | Conglomerate |
Dr. Shamsheer Vayalil | $1.9 | Healthcare |
How the Richest People in Dubai Drive the UAE Economy
The billionaires profiled here are not just figures of wealth—they are architects of the UAE’s diversified economy. Their contributions span multiple sectors including retail, real estate, healthcare, technology, and education.
Job Creation: Collectively, these billionaires employ over 500,000 people globally, with a significant chunk in the UAE.
Social Development: Their philanthropic efforts enhance the UAE’s global image as a socially responsible nation.
Foreign Investment: Many of them serve as magnets for international capital and partnerships, particularly from India, Europe, and Russia.
This billionaire class supports UAE Vision 2030, which aims to diversify the economy away from oil dependency and foster a knowledge-driven, tech-forward society.
Explore why the UAE is a magnet for global millionaires and billionaires in 2025
Dubai’s Billionaire Ecosystem at a Glance
Global Talent Magnet: Tech entrepreneurs like Durov relocate for privacy and business freedom.
Diverse Sector Influence: Strength in real estate, retail, banking, and education drives wealth creation.
Philanthropy As a Pillar: Many support education, healthcare, and social betterment.
Steady Growth: UAE billionaire wealth surged ~39.5% in 2024, totaling $138.7 billion, reflecting its magnetic appeal for global UHNWIs
Trends & Wealth Insights in UAE
Industry breakdown: Tech (Telegram), Real Estate (Emaar, DAMAC), Retail (LuLu, Majid Al Futtaim), Construction, Hospitality, Banking.
Policy-driven growth: Free zones, 0% income tax, and investor-centric visas stimulate wealth creation.
Wealth surge: UAE-based billionaire fortunes are growing—five Emiratis alone made $24.3 B on Forbes 2025 list.
Global ranking: MENA region boasts 38 billionaires worth $128.4 B in 2025, nearly doubling from 2024.
What Makes Dubai a Hub for the Richest People in the UAE
Tax-free regimes – No income tax and capital gains tax.
Business-friendly infrastructure – Free zones and investor visas.
Luxury urban environment – A global financial, tourism, and trade hub.
Modern infrastructure & transport – Iconic projects like Burj Khalifa and Dubai Metro.
Regulatory stability – Attracts global enterprises and wealth migration.
Philanthropy & Social Impact
These billionaires actively invest in UAE’s and global community:
Education: Abdulla Al Ghurair Foundation; Sunny Varkey’s GEMS Foundation.
Healthcare: Ravi Pillai initiatives; Mulchandani’s Project Udaan.
Culture & CSR: Juma Al Majid supports cultural preservation and education.
Environment: Majid Al Futtaim is transitioning to net-positive carbon by 2040. Source: Forbes Middle East
Conclusion
The UAE, and especially Dubai, continues to solidify its place as a global epicenter of wealth and innovation. The top 10 richest people in the country are far more than just wealthy — they are visionaries shaping industries, empowering communities, and driving economic resilience.
Their stories of perseverance, ambition, and generosity are an inspiration to entrepreneurs and investors worldwide. With a strategic business climate, world-class infrastructure, and pro-growth government policies, the UAE remains a top destination for billionaires and dreamers alike.
Discover prime investment opportunities in Dubai’s luxury real estate market
Frequently Asked Questions
Pavel Durov, the founder of Telegram, is currently considered the richest man in Dubai, with a net worth exceeding $17 billion. Other notable names include Yusuff Ali, Hussain Sajwani, and Abdulla Al Ghurair.
Few women crack top lists; Lubna Olayan or UAE royals like Sheikha Fatima hold indirect stakes, but no standalone billionaires dominate public rankings yet.
People get rich in Dubai primarily by leveraging the tax-free environment to maximize income, investing heavily in real estate, launching businesses, and maintaining high financial discipline.
Hussain Sajwani of DAMAC Properties holds strong at #1 for Emiratis with $5.2B, driven by luxury real estate; expat billionaires like Durov or Rizvi (ii5) challenge via tech/crypto.
Pavel Durov (~$17B, Telegram), 2. Hussain Sajwani ($5.2B, DAMAC), 3. Abdulla Al Futtaim ($4.5B, retail), 4. Mohamed Alabbar ($3.8B, Emaar), 5. Rizwan Sajan ($2.9B, Danube), others include Saif Al Ghurair ($2.5B), Yusuff Ali ($2.3B).
Forbes/ local reports like Zawya provide baselines, but private family wealth and crypto holdings understate true figures by 20-30%; update annually for market shifts.
Dubai offers a tax-friendly environment, world-class infrastructure, strategic location, and strong business regulations. This attracts Dubai’s wealthiest residents and positions the city as a global hub for business and luxury living.