Dubai is one of the most saught after cities in the world and is also the most progressive. Although it is situated amidst some of the the most conservative countries it boasts of an open minded and live and let live policy.
It is a business hub and a place for opportunities. The city welcomes entrepreneurs to come to the city and be a part of the world of business over there. That is why the richest people living in Dubai are not only from the Emirates, but from other countries as well. The warmth of the city has a fascinating work culture.
Dubai is proof that being an Islamic state has not stopped it from being progressive. Dubai happens to be a wide-open market for anybody who is willing to do business in the city. Dubai has constantly produced millionaires and billionaires over the years, thanks to its perfect location for the shipping sector. Dubai also has highly developed logistics and extremely convenient product distribution. The city allows duty free exports to a number of countries in the Middle East, which motivates foreign investors to go for offshore companies here. Here are the 15 richest people living in Dubai.
So this goes to prove that Dubai is a great place for people to amass wealth and stay prosperous, but who are the top 10 richest people of the state? Here is a list telling you these facts!
10. Sunny Varkey
Sunny Varkey controls GEMS Education. The largest operator of K-12 schools in the world has a network of 89 schools around the globe. Varkey’s parents were expat teachers from Kerala. In 1959, when the Emirates was still quite underdeveloped, the family migrated to Dubai. They started teaching English to locals. They even started teaching members of the royal family. They had “Our Own English School.”
Sunny, who was sent back to India for his education, never went beyond high school. He reportedly sold fruits on the road for extra money. He went back to Dubai in 1970. In 1980, he took the charge of his parents’ school. He laid bricks for school buildings and even drove the school bus. Now, GEMS is the most successful educational group in the region. Until 2015, Varkey Foundation had former U.S. president Bill Clinton as its honorary chairman. Sunny Varkey’s net worth is $2 billion (as of April 27, 2017), which makes him one of the richest people living in Dubai.
9. Saif Al Ghurair
Saif Al Ghurair is one of the members of the board of Dubai Chamber of Commerce and Industry’s Economic Board, as well as the Dubai Executive Council. He happens to be the former Chief Executive Officer and Chairman of Al-Ghurair Group, which deals in manufacturing sectors and real estate in the UAE. The manufacturing businesses of the group includes steel, aluminum and petrochemicals. Its petrochemical subsidiaries include Adeka Al Ghurair Additives and Taghleef Industries.
With a net worth of $2.1 billion (as of April 27, 2017), Saif is one of the richest people in Dubai. At present, Saif Al Ghurair hold significant shares in leading Emirati bank Mashreq, run by his nephew, Abdul Aziz Al Ghurair. He had stakes in Nippon Steel, which he sold out in 2011. Saif Al Ghurair belongs to an old merchant family in Dubai, which initially harvested pearls from the Arabian Gulf. During a boat trip to India in the 1930s, Saif met with a storm that left him blind in one eye.