Forbes’ annual list of wealthiest individuals and families showed that out of the more than 2,200 billionaires around the world, seven originated from the UAE who now hold a combined net worth of $24 billion (Dh88 billion) as of March 2018.
The number of Emirati billionaires increased from five last year, although their latest aggregate net worth dropped from $27.4 billion in 2017. Now at number one is Abdullah Ahmad Al Ghurair, the founder of Mashreq bank, with $5.9 billion worth of assets. Among others, Majid Al Futtaim and family, whose assets include malls, hotels and a franchise for hypermarket Carrefour, has wealth estimated at $4.6 billion. Hussain Sajwani, chairman of luxury developer Damac Properties, stands third with $4.1 billion worth of assets, followed by Abdulla Al Futtaim ($3.3 billion), Saeed bin Butti Al Qebaisi ($2.7 billion), Saif Al Ghurair and family ($1.9 billion) and Khalifa bin Butti Al Muhairi ($1.5 billion).