The Middle-East, owing to its oil-based economy powered by vast reserves of oil and natural, is perhaps the most prosperous and wealthiest region on the planet. However, most of the richest billionaires in the Middle-East are not Arabs, but from various ethnicities across the world who have become citizens of Middle-Eastern countries.
A Russian-born businessman, 39-year-old Pavel Durov is the creator of the Telegram messaging app, and the richest person in the UAE, boasting a net worth of $15.5 billion, according to Forbes Real Time Billionaires List.
The richest man in Egypt and the world’s wealthiest Arab (besides the royals in these countries, Nassef Sawiris is an Egyptian businessman with a net worth of $7.7 billion, as per Forbes. Nassef, 62, who is engaged in the construction and chemical business, increased his wealth by $1.4 billion last year.
The founder of Lulu Group which is famous for its supermarkets and expansive luxury malls, 68-year-old M.A. Yusuff Ali is the wealthiest Indian-origin person in the Middle-East boasting a net worth of $6.5 billion.
The founder and chairman of UAE’s Mashreqbank, Abdulla bin Ahmad Al Ghurair is an Emirati billionaire businessman. The Al Ghurair family is one of wealthiest in the Middle-East with businesses spread across banking and real estate. Abdulla Al Ghurair, 96, has a net worth of $4.2 billion.
A doctor by profession, Indian-origin Shamsheer Vayayil is the founder of Burjeel Holdings, and one of the biggest healthcare tycoons in the Middle East. The 46-year-old radiologist has a net worth of $2.6 billion, with his fortunes swelling after Burjeel Holdings became a listed company in 2022.
The richest man in Algeria, Issad Rebrab is founder and CEO of the Cevital Industrial Group, Algeria’s largest private company, which runs one of the biggest sugar refineries in the world. Issad Rebrab, 79, has a net worth of $2.5 billion, according to Forbes.
Dubai-based Kabir Mulchandani is an Indian-born is real-estate tycoon, who is the Founder and Chairman of FIVE Holdings, which includes FIVE Hotels and Resorts; FIVE Palm Jumeirah, FIVE Jumeirah Village, FIVE Zurich, FIVE LUXE, and FIVE Music along with The Pacha Group.
The 54-year-old has a net worth of $2 billion.
The chairwoman and CEO of Landmark Group, a Dubai-based multinational consumer conglomerate founded by her husband Micky Jagtiani, Indian-born Renuka Jagtiani, 61, is the only female billionaire in the Middle-East, boasting a net worth of $5.6 billion, as per Forbes.
A Lebanese businessman who comes from a long-line of jewelers with his family starting their business in 1890, Robert Mouawad is known for his collection of exquisite diamonds. Apart from the jewelry business, Mouawad also owns extensive real estate and has developed luxury residences on a man-made island in Bahrain.
Robert Mouawad, 73, has a net worth of $1.5 billion, according to Forbes.
Middle East’s only active banking billionaire, Othman Benjelloun is a Moroccan financier, known for developing BMCE Bank and Bank of Africa, and serving as the group’s chairman and CEO. According to Forbes, 91-year-old Othman Benjelloun has a net worth of $1.4 billion.
However, despite their impressive wealth, the billionaires of Middle-East are no match Indian business tycoons like Reliance Chairman Mukesh Ambani, and Gautam Adani– the founder of Adani Group, with each of them individually possessing more wealth than the combined fortunes of Middle-East’s top 10 billionaires.
According to Forbes, Mukesh Ambani has a real-time net worth of $96.1 billion, making him the richest man in Asia, and the 18th wealthiest globally, while Gautam Adani has a net worth of $62.8 billion, and is ranked as the 25th richest person in the world.
