UAE’s richest men in 2017

7 years ago | Posted in: Business | 702 Views

Forbes recently released its annual rich list and once again Microsoft founder Bill Gates topped the list with a whopping net worth of $86 billion, up from $75 billion last year.

But who are UAE’s richest? They are five Emirati tycoons.

Real Estate magnate Majid Al Futtaim is ranked 125 on the list. With a net worth of $10.6 billion, he is the richest Emirati among the five Emiratis listed.

Next is another prominent businessman, Abdulla bin Ahmed Al Ghurair, ranked 202 with a net worth of $6.8 billion.

Abdullah Al Futtaim is the third Emirati on the list – with a net worth of $4.1 billion – ranked overall 427 on the list.

Another real estate tycoon, Hussain Sajwani, is the fourth Emirati on the list, with a net worth of $3.7 billion. He is ranked 501 overall.

The list of five is rounded off with Saif Al Ghurair, a prominent Emirati businessman with diversified business interests and a net worth of $2.1 billion. He is ranked 973.

American business magnate Warren Buffett reclaimed the second spot on the list for the first time since 2014, with a net worth of $75.6 billion, up from $60.8 billion in 2016.

Amazon founder Jeff Bezos rose to third on the list for the first time, due to a jump in Amazon shares, which boosted his net worth to $72.8 billion.

The 2017 list is longer than it has ever been before – Forbes estimates there are now 2,043 billionaires worldwide, up from 1,810 in 2016.

Their average net worth is $3.75 billion, which means US President Donald Trump is not even worth as much as the “average” billionaire, CNN added.

Trump dropped 220 points on Forbes magazine’s 2017 Billionaires List, putting his net worth at $3.5 billion, down $1 billion from the rankings it issued a year ago, a media report said.

According to the list published on Monday, his current position leaves him tied with 19 others as the 544th richest person in the world, CNN reported.

Forbes said that much of the decline in Trump’s net worth is due to softness in the midtown Manhattan real estate market…. see more

source: khaleejtimes

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