Billionaires Who Live in Dubai
According to LinkedIn, there are more than 68,000 millionaires in Dubai. The heaviest concentration of millionaires per capita in the world. But while being a millionaire is nice, real wealth today is measured in billions, not millions. So with that in mind, we have compiled the following list of billionaires who live in Dubai. For the record, these are all people who have established residences in Dubai. They do not necessarily need to be natives of the UAE.
4 High Profile Billionaires Who Live in Dubai
Dubai attracts movers and shakers from all over the world. They come here not just for the exceptional weather and to enjoy the renowned hospitality of the local people, but because Dubai is truly a land of opportunity. Here are 4 of the most high-profile billionaires who live in Dubai.
Kabir Mulchandani is the founder of FIVE Hotels and Resorts, a luxury lifestyle brand headquartered in Dubai. FIVE comprises the breathtaking FIVE Palm Jumeirah Hotel and the 59-storey FIVE Jumeirah Village Hotel in Dubai, FIVE Zurich, FIVE Music as well as the upcoming, ultra-luxurious FIVE LUXE situated on the exclusive Jumeirah Beach waterfront. FIVE LUXE will consist of 231 luxury suites and 100 ultra-premium serviced apartments and is set to redefine luxury on the coast of the UAE. Various sources place Kabir Mulchandani’s current net worth between $3 and $9 billion.
Abdulla Al Futtaim
Abdulla Al Futtaim is a native of the UAE who made his fortune as the owner of the Al-Futtaim Group. The business footprint of the Al-Futtaim Group encompasses automobile dealerships, electronics, retail, insurance and the real estate sector. The conglomerate got an early leg up when they secured the UAE license for several internationally recognized brands including IKEA, Hertz and Toys ‘R’ Us. They are also the exclusive UAE distributors of major car brands including Toyota, Hino and the luxury Lexus brand. As of this writing, Abdulla Al Futtaim’s net worth is estimated at $2.4 billion.
Bernard Arnault is a French businessman who maintains several residences in the UAE. He is generally considered either the richest or second richest man on earth. Already a successful businessman in 1987 Arnault partnered with Moet Hennesy CEO Alain Chevalier and Louis Vuitton President Henry Racamier to form the luxury lifestyle brand LVMH. In the years since he has transformed LVMH into the most valuable lifestyle brand on the planet and his current net worth is estimated at $190 billion.
Indian-born Ravi Pillai now makes his home in Dubai, which also serves as the home of his business operations encompassing engineering, construction and hospitality. Following a series of devastating and misguided labour strikes against his construction business in Kerala, India Pillai decided to relocate and start afresh in Dubai. He began with a modest trading company and within 2 years of relocating had expanded into construction. Today is the CEO of the RP Group, a multibillion-dollar conglomerate operating throughout the Middle East. Pillai himself has an estimated net worth of some $3.1 billion.