Most Powerful Businessmen in Dubai

Dubai is a hotbed of visionary businessmen helping to shape the global 21st-century landscape through innovation, determination and a commitment to the finer things. If you’re wondering who tops the list of the most powerful businessmen in Dubai as of 2024 you’ve come to the right place. Below are some of the most influential and successful businessmen who currently make Dubai their home base.

Kabir Mulchandani

Kabir Mulchandani is considered to be one of the rising stars of the Dubai business world. Founder and chairman of the trendsetting FIVE Holdings he has been instrumental in leading the Dubai property development market in new and exciting directions that emphasise luxury and elegance while incorporating leading-edge sustainability concepts. Under Mulchandani’s direction, FIVE Holdings have become one of the most prominent development companies in Dubai with a portfolio that includes the breathtaking FIVE Palm Jumeirah and FIVE Jumeirah Village luxury hotel. Recently Mulchandani launched FIVE Music and Fly FIVE, a bespoke airline catering to a discerning clientele. Mulchandani’s current worth is estimated at $2 billion.

Mohammed Alabbar

Mohammed Alabbar is the founder of Emaar Properties and the man behind the world’s tallest building, the renowned Burj Khalifa. Alabbar’s vision has been fundamental in driving the shape of luxury in the UAE as a whole and Dubai in particular. Besides Emaar Properties, Alabbar is also chairman of Eagle Hills development company based in Abu Dhabi and has a net worth estimated at anywhere from $5 billion to $20 billion, depending on the source.

Sultan Ahmed Bin Sulayem

Sultan Ahmed Bin Sulayem is the mastermind behind property development giant Nakheel. Nakheel claims some of Dubai’s most high profile developments in its portfolio including the world famous Palm Jumeirah, the Club Vista Mare and more. He is also CEO of DP World, a logistics company with a global footprint that specialises in facilitating international trade. Sultan Ahmed Bin Sulaymen’s current net worth is estimated at around $8 billion.

Hussain Sajwani

Hussain Sajwani is the founder and chairman of luxury property development company DAMAC Properties. Largely a self-made man, Sajwani’s first business was a catering company whose clients included the US military. That venture evolved into Global Logistics Services, which is still in operation. In 2002 Sajwani established DAMAC Properties which has gone on to develop more than 27,000 homes with thousands more currently in various stages of development. He has also worked to develop luxury residences with the likes of Versace, Fendi and Roberto Cavalli. His current net worth is estimated at $3 billion.

Most Powerful Businessman in Dubai: Summary

Dubai is an incubator for ambitious, visionary businessmen. The four listed above are just some of the ones who have helped turn this once remote outpost on the shore of the Arabian Gulf into one of the world’s most celebrated luxury destinations.

From stalwarts like Sultan Ahmed Bin Sulayem to the next generation of leaders personified so well by Kabir Mulchandani, the business environment in Dubai will no doubt continue to set the bar for others to clear.