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Half of the world’s billionaires have lost their wealth compared to last year, according to Forbes
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The UAE-based business tycoon features prominently on Forbes’ 37th annual list of the world’s billionaires.
The top 10 UAE residents in the list are Pavel Durov, Yusuffali MA, Micky Jagtiani, Hussain Sajwani, Ravi Pillai, Abdulla bin Ahmad Al Ghurair, Sunny Varkey, Joy Alukkas, Abdulla Al Futtaim and his family, and Dr. Shamsheer Vayalil.
Telegram Messenger founder Pavel Durov has retained his spot as the UAE’s richest businessman with a net worth of $11.5 billion. He has already grabbed the 148th place. At No. 497 on the list is Yusufari, the retail mogul with a net worth of $5.3 billion and chairman of Lulu Group.
Ranked 511 is Landmark Group Chairman Micky Jagtiani with a net worth of $5.2 billion. He is followed by DAMAC Properties founder and CEO Hussain Sajwani at No. 611 with a net worth of $4.5 billion.
Ravi Pillai, chairman and managing director of RP Group, ranks 905th with a net worth of $3.2 billion. Abdulla bin Ahmad Al Ghurair, founder of Mashreq Bank, and Sunny Varkey, founder of GEMS Education Group, are tied at No. 982 with a net worth of $3 billion.
Joy Alukkas, chairman and managing director of the Joyalukkas Group, ranks 1,067 with a net worth of $2.8 billion. They are followed by Abdulla Al Futtaim and family, who own the Al Futtaim Group, at No. 1,272 globally, with a net worth of US$2.4 billion.
The 10th entrepreneur from the United Arab Emirates is Dr. Shamsheer Vayalil, founder and chairman of Burjeel Holdings, who ranks 1,368th with a net worth of US$2.2 billion.
Dr Durov and Dr Shamsheer are the youngest UAE residents on the list.
According to Forbes, half of the world’s billionaires have lost their wealth compared to last year. As many as 254 people fell off the list, and another 150 billionaires made the list for the first time.
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