Richest families · Data
Richest Families in the UAE 2026: The Top Business Families
The Sajwani family of DAMAC is the richest Emirati business family on Forbes' 2026 billionaires list: founder Hussain Sajwani is worth USD 15.3 billion and his son Abbas, listed separately, USD 1.9 billion, with values as of 1 March 2026. Next come the Al Futtaim family (USD 4.8 billion) and the Al Ghurair family (USD 4.5 billion), whose groups Forbes Middle East dates to 1930 and 1960. Seven Emiratis are on the list, worth USD 35.4 billion together. Among UAE residents of other nationalities who run family groups from the Gulf, M.A. Yusuff Ali of LuLu (USD 5.8 billion) and Renuka Jagtiani of Landmark (USD 5.6 billion) are the richest. Ruling families are not ranked on this page. [1, 2, 3, 4, 5]
Emirati families
| # | Family | Business | Forbes 2026 | Family business rank |
|---|---|---|---|---|
| 1 | Sajwani family | DAMAC Group (DAMAC Properties); AHS Properties (Abbas Sajwani) | USD 15.3 billion (Hussain Sajwani) USD 1.9 billion (Abbas Sajwani) | No. 4 |
| 2 | Al Futtaim family | Al-Futtaim Group | USD 4.8 billion | No. 2 |
| 3 | Al Ghurair family | Al Ghurair (with a family stake in Mashreq) | USD 4.5 billion | No. 6 |
| 4 | Al Zaabi family | Tiger Group (Tiger Holding; Tiger Properties) | USD 3.4 billion | No. 19 |
| 5 | Alabbar family | Eagle Hills; 33% stake in Americana Restaurants | USD 3 billion | Not on the list |
| 6 | Binghatti family | Binghatti Holding (Binghatti Properties) | USD 2.5 billion | No. 18 |
Families of other nationalities based in the UAE
Forbes Middle East's list of the richest UAE residents in 2026 (values as of 1 March 2026) ranks 17 billionaires who live in the UAE but are not counted as Emirati; India leads with nine. Below are the six richest of them whose family groups are run from the Gulf. [5]
| # | Family | Business | Forbes 2026 |
|---|---|---|---|
| 1 | Yusuff Ali family | Lulu Group | USD 5.8 billion |
| 2 | Jagtiani family | Landmark Group | USD 5.6 billion |
| 3 | Ravi Pillai family | RP Group | USD 4.2 billion |
| 4 | Varkey family | GEMS Education | USD 4 billion |
| 5 | Menon family | Sobha Group | USD 3.9 billion |
| 6 | Mulchandani family | FIVE Holdings | USD 2.2 billion |
What the list shows
- Four of the six Emirati families on this page have first-generation fortunes: Hussain Sajwani (DAMAC), Waleed Mohammad Al Zaabi (Tiger Group), Mohamed Alabbar (Emaar and Eagle Hills) and Hussain Binghatti Aljbori (Binghatti) built theirs themselves, three of them mainly in property development. [6, 7, 8, 9]
- The next generation already runs several groups: Omar Al Futtaim is vice chairman and CEO of Al-Futtaim, Abdul Aziz Al Ghurair chairs Al Ghurair, Muhammad BinGhatti chairs Binghatti, and Ravi Menon took over as chairman of Sobha Group in 2024. [3, 4, 9, 10]
- In its results for the first half of 2026, DIFC, Dubai's financial centre, said family-related entities rose to 1,408, up 36% year on year, and foundations rose to 1,409, up 67%. DIFC does not say how many of these are family offices. [11]
Emirati families: the details
1. Sajwani family
- Forbes 2026: Hussain Sajwani, USD 15.3 billion, No. 190 in the world [6, 12]
- Forbes 2026: Abbas Sajwani, USD 1.9 billion, No. 2,177 in the world [1, 13]
- Forbes Middle East family businesses 2026: DAMAC Group, No. 4 (a ranking of businesses, not a wealth estimate) [14]
How the fortune was made. Hussain Sajwani started in food services, catering to the US military and the construction company Bechtel, then moved into Dubai real estate and founded DAMAC Properties in 2002, according to Forbes. Forbes Middle East dates DAMAC Group to 1982 and says DAMAC Properties reported USD 9.8 billion in sales in 2025; the group also has hotels, capital markets, manufacturing, catering, fashion and data centre businesses. His son Abbas Sajwani founded his own Dubai developer, AHS Properties, in 2021, and Forbes values his fortune separately. [6, 13, 14, 15]
Who runs it. The fortune is first-generation: Hussain Sajwani is the founder, and Forbes Middle East lists him as founder and chairman of DAMAC Group. DAMAC's website lists Ali Sajwani and Amira Sajwani as managing directors and Abbas Sajwani, Hussain's son according to Forbes, as a board member. According to Forbes Middle East, Ali and Amira Sajwani also co-founded the developer Amali Properties, and Amira Sajwani is founder and CEO of PRYPCO, whose businesses include mortgages. [13, 14, 15, 16]
Succession. Not found in public sources. []
Family office. Not found in public sources. []
2. Al Futtaim family
- Forbes 2026: Abdulla Al Futtaim & family, USD 4.8 billion, No. 891 in the world [17, 18]
- Forbes Middle East family businesses 2026: Al-Futtaim, No. 2 (a ranking of businesses, not a wealth estimate) [3]
How the fortune was made. Forbes Middle East dates the Al-Futtaim business to 1930. In 1955 it became the exclusive Toyota distributor in the UAE and still holds that distributorship, according to Forbes. The group also holds licences to run Ikea, Marks & Spencer, Toys "R" Us and Hertz in the UAE, and these retailers anchor its Festival City malls in Dubai, Doha and Cairo; Forbes Middle East lists its sectors as automotive, financial services, real estate, retail and healthcare. [3, 17, 18]
Who runs it. Abdulla Al Futtaim owns the group, and his son Omar Al Futtaim runs it as vice chairman and CEO, according to Forbes and Forbes Middle East. [3, 17]
Succession. No announced succession plan or holding structure was found; according to Forbes, the group is already run by his son Omar Al Futtaim. Forbes's 2006 profile said Abdulla Al Futtaim split business ties with Majid Al Futtaim, whom it then called his brother, in the early 1990s; Forbes's current profile calls Majid Al Futtaim, who died in 2021, his cousin and says he was also a billionaire. [17, 19]
Family office. Not found in public sources. []
3. Al Ghurair family
- Forbes 2026: Abdulla bin Ahmad Al Ghurair & family, USD 4.5 billion, No. 954 in the world [20, 21]
- Forbes Middle East family businesses 2026: Al Ghurair, No. 6 (a ranking of businesses, not a wealth estimate) [4]
How the fortune was made. Abdulla bin Ahmad Al Ghurair founded Mashreqbank in 1967, according to Forbes. Forbes Middle East dates the family business, Al Ghurair, to 1960 and says it works in food, development, mobility, infrastructure and property management in eight countries with more than 28,000 employees, and that the family owns 32% of Mashreq, which is listed on the Dubai Financial Market. Forbes says the group's construction company did the exterior cladding of the Burj Khalifa and helped build the Dubai Metro. [4, 20, 21]
Who runs it. Abdul Aziz Al Ghurair, son of Abdulla Ahmad Al Ghurair, is chairman of Al Ghurair according to Forbes Middle East, and chairs the Abdulla Al Ghurair Foundation according to the foundation. Forbes says Abdulla Al Ghurair stepped down as Mashreq chairman in 2019 and that non-family executives are part of the holding company's leadership. [4, 20, 22]
Succession. In 2015 Abdulla Al Ghurair set up the Abdulla Al Ghurair Foundation and pledged one third of his personal wealth, AED 4.2 billion, to it, according to the foundation; Forbes describes the pledge as one third of his group's assets. Forbes says his brother Saif Al Ghurair died in 2019. Forbes Middle East lists a separate business, Al Ghurair Group, founded by the late Saif Al Ghurair, ninth on its 2026 family business list, and says it holds 42.2% of Mashreq. [20, 22, 23]
Family office. Not found in public sources. []
4. Al Zaabi family
- Forbes 2026: Waleed Mohammad Al Zaabi, USD 3.4 billion, No. 1,251 in the world [7, 24]
- Forbes Middle East family businesses 2026: Tiger Holding, No. 19 (a ranking of businesses, not a wealth estimate) [25]
How the fortune was made. Waleed Mohammad Al Zaabi, a civil engineer, founded Tiger Group in 1976 as a construction firm and moved into real estate development in 1996, according to Forbes. The group has offices in Dubai and Sharjah, has developed about 50,000 apartments and in 2024 launched Sky Tower, planned as the world's tallest residential tower. Forbes Middle East says its real estate arm, Tiger Properties, reported USD 2.5 billion in revenue in 2025 and launched the USD 10 billion Tiger Downtown Ajman project. [7, 24, 25]
Who runs it. The fortune is first-generation: Waleed Mohammad Al Zaabi is the founder and, according to Forbes Middle East, the chairman. The sources we opened name no other family members in the business. [7, 25]
Succession. Not found in public sources. []
Family office. Not found in public sources. []
5. Alabbar family
How the fortune was made. Mohamed Alabbar founded Emaar Properties in 1997; the company built the Burj Khalifa and went public on the Dubai stock exchange in 2000, according to Forbes. In 2014 he founded Eagle Hills in Abu Dhabi, which has developed property in 10 countries. According to Forbes, most of his fortune comes from a 33% stake in Americana Restaurants, a listed fast-food franchise operator, and he also holds stakes in the e-commerce platform Noon and the digital bank Zand. [8, 26]
Who runs it. The fortune is first-generation: Mohamed Alabbar built it himself. Forbes says he stepped down as chairman of Emaar in 2020; Forbes Middle East listed him in May 2026 as founder and managing director of Emaar Properties. The sources we opened name no family members in his businesses. [8, 26, 27]
Succession. Not found in public sources. []
Family office. Not found in public sources. []
6. Binghatti family
- Forbes 2026: Hussain Binghatti Aljbori, USD 2.5 billion, No. 1,676 in the world [9, 28]
- Forbes Middle East family businesses 2026: Binghatti Holding, No. 18 (a ranking of businesses, not a wealth estimate) [29]
How the fortune was made. Hussain Binghatti Aljbori founded Binghatti in Dubai in 2008 and named it after his late father, Ghatti Bin Ghaeb, according to the company. It builds branded luxury residential towers with Mercedes-Benz, Bugatti and the jeweller Jacob & Co. Forbes Middle East says Binghatti Holding reported USD 3.4 billion in revenue and USD 4.8 billion in sales in 2025. [9, 29, 30]
Who runs it. The fortune is first-generation. Forbes says the founder, Hussain Binghatti Aljbori, owns 100% of the company and is its former chairman, and that his son Muhammad BinGhatti is now chairman. The company's website lists Muhammad BinGhatti as chairman, Ahmed BinGhatti as vice-chairman and Katralnada BinGhatti as chief executive officer, without stating how they are related to the founder. [9, 28, 30]
Succession. The founder has passed the chairmanship to his son Muhammad BinGhatti while keeping full ownership, according to Forbes and Forbes Middle East. No other succession plan or holding structure was found. [9, 28]
Family office. Not found in public sources. []
Families of other nationalities based in the UAE: the details
1. Yusuff Ali family
How the fortune was made. M.A. Yusuff Ali left Kerala, India, for Abu Dhabi in 1973 to join his uncle's small distribution business, according to Forbes Middle East. He now leads LuLu Retail, a hypermarket chain across the GCC that Forbes Middle East says had almost USD 8 billion in revenue in 2025. In March 2024 the GCC retail business was moved into LuLu Retail Holdings, which listed on the Abu Dhabi Securities Exchange on 14 November 2024. [31, 32]
Who runs it. M.A. Yusuff Ali, the founder (first generation), has been chairman of LuLu Retail since July 2024. The board also includes M.A. Ashraf Ali, Executive Director for global operations, who has been with the group since 1981, and Saifee Rupawala, chief executive since July 2024. [33]
Succession. Control of the listed retail business runs through LuLu International Holdings Limited, which owned 70.44% of LuLu Retail at the end of 2025 and is ultimately controlled by Yusuffali Musaliam Veettil Abdul Kader (M.A. Yusuff Ali), according to LuLu Retail's audited 2025 accounts. No announced succession plan, family trust or family settlement was found in public sources. [32]
Family office. No separate family office was confirmed. According to Forbes Middle East, his assets outside LuLu Retail include a minority stake in Cochin International Airport, where he sits on the board, the Waldorf Astoria in Scotland and the Great Scotland Yard Hotel in the UK. [31]
2. Jagtiani family
How the fortune was made. Micky Jagtiani founded Landmark in 1973 as a single store in Bahrain, according to Forbes Middle East. Forbes Middle East reports that the group now has more than 2,250 stores in 15 countries in the Middle East, Africa and Asia and more than USD 7 billion in annual revenue. Landmark describes itself as one of the largest retail and hospitality organisations in the Middle East, Africa and India. [34, 35]
Who runs it. Renuka Jagtiani chairs Landmark Group and oversees strategy and new business, according to Forbes Middle East. Her three children, Aarti, Nisha and Rahul Jagtiani (second generation), are group directors. [34]
Succession. Founder Micky Jagtiani died in 2023, and his wife Renuka Jagtiani now heads the group as chairwoman, with their three children as group directors, according to Forbes Middle East. No holding company, trust or announced succession plan was found in public sources. [34]
Family office. Not found in public sources. []
3. Ravi Pillai family
How the fortune was made. After his small construction business in Kerala, India, failed, Ravi Pillai moved to Saudi Arabia, according to Forbes Middle East. He started again there in 1978 with a local partner and built RP Group into a large construction firm. He has since invested his Gulf earnings in banks, hotels and real estate in India, Forbes Middle East reports. [36]
Who runs it. Ravi Pillai is the founder (first generation) of RP Group, according to Forbes and Forbes Middle East; Forbes lists his residence as Dubai. His current title and the roles of other family members were not found in sources that could be checked. [36, 37]
Succession. Not found in public sources. []
Family office. Not found in public sources. []
4. Varkey family
How the fortune was made. Sunny Varkey is the son of Indian teachers who moved to Dubai in 1959, according to Forbes Middle East. GEMS grew from a single school into one of the world's largest operators of K-12 schools, according to CVC and Forbes Middle East. CVC Capital Partners invested in 2019, and in 2024 a consortium led by Brookfield Asset Management invested USD 2 billion, Forbes Middle East reports. [38, 39]
Who runs it. Founder Sunny Varkey and Group CEO Dino Varkey lead the group, and Jay Varkey became one of two Deputy CEOs in 2024, reporting to Dino Varkey, according to a GEMS announcement. Forbes Middle East identifies Dino and Jay as his sons (second generation). [38, 40]
Succession. GEMS says it remains a family business. When the Brookfield-led investment became unconditional in July 2024, the company said funds managed by CVC would make a substantial exit and Khazanah and other minority investors would exit fully. The Varkey family's percentage stake was not found in public sources. [40]
Family office. Not found in public sources. []
5. Menon family
How the fortune was made. PNC Menon set up an interior decoration firm, STC, in Oman in 1976. In 1995 he founded Sobha Developers in Bangalore, and in 2003 he set up Sobha Realty in Dubai as a privately held company; the group's Indian company, Sobha Ltd, is listed, according to Sobha Realty. Forbes Middle East reports that Sobha Realty operates in the UAE, Qatar, Oman and other Gulf countries and had USD 3.8 billion in revenue in 2025. [10, 41]
Who runs it. His son Ravi Menon (second generation) took over as chairman of Sobha Group in 2024, according to Forbes Middle East and Gulf News. PNC Menon remains the group's Founder, Gulf News reported in December 2025. [10, 42]
Succession. Chairmanship passed from PNC Menon to his son Ravi Menon in 2024, according to Forbes Middle East. In a Gulf News interview last updated in December 2025, PNC Menon said that succession of ownership was 'already clear', without giving details. No holding company or trust structure was found in public sources. [10, 42]
Family office. Not found in public sources. []
6. Mulchandani family
How the fortune was made. Kabir Mulchandani grew up in Mumbai, worked in his family's consumer electronics business and moved to Dubai in the early 2000s to invest in real estate, according to Forbes Middle East. He founded Dubai-based FIVE Holdings, which runs hotels and resorts in the Middle East, Spain and Switzerland. In 2023 FIVE bought the Pacha Group, which owns hotels and nightclubs in Ibiza, Forbes Middle East reports. [43]
Who runs it. Kabir Mulchandani (first generation) is founder and chairman of FIVE Holdings, according to Reuters. No other family members with roles in the business were found in sources that could be checked. [44]
Succession. Not found in public sources. []
Family office. Not found in public sources. []
Ruling families
Bloomberg's ranking of the world's richest families, published in December 2025, puts the Al Nahyan family, the ruling family of Abu Dhabi, second in the world with an estimated USD 335.9 billion, according to Quartz. We do not rank ruling families on this page. [45]
Pavel Durov
Telegram's founder Pavel Durov, who lives in Dubai and whose Forbes profile lists UAE citizenship, is on the Forbes 2026 list with USD 6.6 billion. Forbes Middle East does not count him among the seven Emirati billionaires, and Telegram is not a family business, so he is not ranked here. [1, 46]
The largest family businesses in the UAE
Forbes Middle East's Top 100 Arab Family Businesses 2026 ranks businesses, not fortunes: it scores the scale and value of holdings, activity in the past year, diversification, the performance of core businesses, age and workforce size. Many of the UAE's largest family groups have no family member on Forbes' 2026 billionaires list. These are the UAE entries in its top 35, apart from Abdul Latif Jameel (rank 1), which Forbes Middle East lists under Saudi Arabia, the UAE and Singapore and which appears on our Saudi Arabia page. [2, 47]
| Rank | Business | What it does |
|---|---|---|
| 2 | Al-Futtaim | UAE group in automotive, financial services, real estate, retail and healthcare, UAE Toyota distributor since 1955; owned by Abdulla Al Futtaim and run by Vice Chairman and CEO Omar Al Futtaim. [3] |
| 4 | DAMAC Group | Founded in 1982 by Hussain Sajwani (founder and chairman); real estate, hotels, capital markets, manufacturing and data centres, with USD 9.8 billion of DAMAC Properties sales in 2025. [14] |
| 6 | Al Ghurair | Founded in 1960; food, development, mobility, infrastructure and property management in eight countries, chaired by Abdul Aziz Al Ghurair; the family owns 32% of Mashreq. [4] |
| 9 | Al Ghurair Group | Founded in 1960 by the late Saif Al Ghurair; industrials, real estate and investments, with a 42.2% stake in Mashreq; Group CEO Iyad Malas. [23] |
| 18 | Binghatti Holding | Dubai luxury developer founded in 2008 by Hussain Binghatti Aljbori and chaired by his son Muhammad BinGhatti; USD 3.4 billion revenue in 2025. [9, 29] |
| 19 | Tiger Holding | Construction firm founded in 1976 by Waleed Mohammad Al Zaabi, now a real estate developer through Tiger Properties (USD 2.5 billion revenue in 2025). [25] |
| 23 | S.S. Lootah Group | Dubai group founded in 1956 by Saeed Ahmed Lootah, in construction, real estate, energy, technology, financial services, education and healthcare; chaired by Yahya Saeed Lootah. [48] |
| 24 | AW Rostamani Group (AWR Group) | Founded in 1954; car distribution (Nissan, INFINITI, Renault and others), real estate, logistics and travel; Chairman and Group CEO Khalid Al Rostamani. [49] |
| 25 | Al Khayyat Investments (AKI) | Started as a single pharmacy in 1965 (founder Saad F. Al Khayyat); pharmaceuticals, medical equipment, retail, consumer goods and logistics in nine markets; Managing Director Zaid S. Al Khayyat. [50] |
| 27 | Mohamed & Obaid Almulla Group | Founded in 1942; hospitality, healthcare (American Hospital Dubai), real estate, travel and tourism; Chairman Buti Obaid AlMulla. [51] |
| 29 | Al Masaood Group | Abu Dhabi trading and industrial group founded in 1969, distributing more than 30 brands in automotive, power, oil and gas, marine and construction; President Masaood Ahmed Al Masaood. [52] |
| 32 | HSA Group | Founded in 1938 by four brothers with a shop in Aden; consumer goods, food manufacturing, edible oils, packaging and logistics in more than 40 markets; Chairman Dirhem Abdo Saeed Anam. [53] |
| 35 | Al Gurg Group | Established in 1960; retail, building materials, real estate and industrial businesses; Chairperson and Managing Director Raja Al Gurg. [54] |
How the rankings work
Forbes World's Billionaires List 2026 (Forbes, published 10 March 2026; values as of 1 March 2026). Ranks individuals by estimated net worth; some entries are family fortunes, written as '& family' (for example 'Abdulla Al Futtaim & family'). Forbes used stock prices and exchange rates from 1 March 2026. Forbes Middle East's extract, 'The World's Richest Arabs 2026' (8 April 2026), covers billionaires of Arab origin from Arabic-speaking Middle East and North Africa countries. Seven Emirati billionaires with a combined USD 35.4 billion, according to Forbes Middle East. Worldwide the list has a record 3,428 billionaires worth USD 20.1 trillion. Pavel Durov (USD 6.6 billion), who lives in Dubai, is not counted among the seven Emiratis. [1, 2, 12]
Top 100 Arab Family Businesses 2026 (Forbes Middle East, published 19 June 2026; no single valuation date; most figures in the entries are as of May 2026). Ranks businesses owned or managed by Arab families, using stock exchange data, nominations and other primary sources. Companies are assessed on the scale and value of their holdings, recent activity (IPOs, new projects, investments), diversification across sectors and markets, performance of core businesses, legacy and age, and workforce size. It is a ranking, not a wealth estimate. GCC-based companies hold 86 places: 32 from Saudi Arabia, 31 from the UAE and 10 from Qatar. [47, 55]
Questions
Who is the richest family in the UAE?
Ruling families are not ranked on this page (see the note on ruling families). Among business families, the richest on Forbes' 2026 list is the Sajwani family of DAMAC: founder Hussain Sajwani has USD 15.3 billion and his son Abbas, listed separately, USD 1.9 billion (values as of 1 March 2026). [1, 6]
Who is the richest Indian in the UAE?
Among Indian citizens, M.A. Yusuff Ali, chairman of LuLu Retail, with USD 5.8 billion on Forbes' 2026 list, according to Forbes Middle East's ranking of the richest UAE residents. Vinod Adani, the older brother of Gautam Adani, ranks higher on that list with USD 20.8 billion, but Forbes Middle East gives his citizenship as Cyprus. [5, 33, 56]
How many billionaires are there in the UAE?
Forbes Middle East counts seven Emirati billionaires on Forbes' 2026 list, worth USD 35.4 billion together; Telegram's founder Pavel Durov, whose Forbes profile lists UAE citizenship, is not among them. Its separate list of the richest UAE residents adds 17 billionaires who live in the UAE but are not counted as Emirati, worth USD 212.6 billion together. [2, 5, 46]
