Quratulain Mohsen
Presenter / Senior Producer
Qurat Ul Ain Mohsen is a journalist, presenter, and content creator with nearly 15 years of experience in both broadcast and digital media. She worked as a reporter for Geo TV and later became a news anchor at Dunya TV. Today, she hosts Glam in the Gulf, one of Nukta’s flagship lifestyle shows - taking audiences behind the scenes of Dubai’s most fascinating lives, from public figures and influencers to viral personalities and rising creatives.
UAE is home to 24 billionaires, ranking it 22nd among countries hosting ultra-high-net-worth individuals
Shutterstock
The wealth of the world's top 1% has surged by $42 trillion over the past decade, according to a new analysis by Oxfam International. The report, released ahead of the G20 finance ministers and central bank governors’ meeting in Brazil, highlights the growing disparity in global wealth distribution.
Oxfam's analysis shows that the average net worth of the wealthiest individuals increased by nearly $400,000 per person, after adjusting for inflation, over the past 10 years. In stark contrast, the other half of the world's population saw their average net worth rise by just $335 over the same period.
How many billionaires live in the UAE?
The UAE is home to 24 billionaires, ranking it 22nd among countries hosting global ultra-high-net-worth individuals. Of these, 21 reside in Dubai.
The billionaire community in the UAE consists of both Emirati nationals and expatriates from various countries. Emirati billionaires have established significant businesses in sectors such as real estate, retail, and finance. Meanwhile, expatriate billionaires contribute to the UAE's economy through investments in diverse industries, including hospitality and healthcare.
Here's are the five wealthiest UAE residents:
1. Pavel Durov
Net worth: $17.2 billion
Pavel Durov
Pavel is the founder and owner of messaging app Telegram, which has more than 500 million users worldwide.
2. M.A. Yusuff Ali
Net worth: $4.8 billion
M.A. Yusuff Ali.com
Yusuff presides over LuLu Group International, which has a revenue of $7.4 billion and operates 193 stores in the Gulf and beyond.
3. Majid Al Futtaim & family
Net worth: $3.6 billion
MAF
Majid Al Futtaim founded retail and entertainment giant Majid Al Futtaim Holding, known as MAF, in 1992.
4. Abdulla bin Ahmad Al Ghurair & family
Net worth: $2.8 billion
Forbes
Abdulla Al Ghurair founded Mashreq Bank, a leading UAE bank, in 1967. He stepped down as chairman in October 2019, but remains a board member.
5. Micky Jagtiani
Net worth: $2.8 billion
Forbes
Middle East retail magnate Micky Jagtiani drove a taxi in London before moving to Bahrain and starting a baby products shop in 1973.
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