Yarot has an estimated wealth of $ 35.6 billion

Forbes: 9 billionaires residing in the UAE

Forbes Middle East published a report listing nine billionaires, all residing in the UAE.

"These are nine billionaires who are not of Arab descent, but see the Middle East as their home, with a total net worth of $35.6 billion, according to the 2023 Forbes Wealthy List. Knowing that they all reside in the UAE."


Pavel Durov

Forbes Middle East's list included billionaire Pavel Durov, 38, with a net worth of $2023.11 billion in 5.

Pavel Durov is the Middle East's youngest richest expatriate, and the only one to have made his fortune working in the tech sector. With a net worth of about $11.5 billion, Durov is not only the richest expatriate in the Middle East, but surpasses the richest Arab, Nassef Sawiris, with a net worth of $7.4 billion.


According to Forbes, the self-made billionaire hails from Russia and is the founder and owner of the free email messaging app Telegram, which has more than 700 million monthly active users around the world.


Yusuf Ali

Yusuf Ali, 67, is a Middle East retail mogul who heads LuLu Group International, which has revenues of more than eight billion dollars and consists of 272 stores and shopping malls in the Gulf region and beyond. Yusuf Ali hails from a village in the southern Indian state of Kerala and left for Abu Dhabi in 1973 to join a relative's small merchandise distribution business.


Mickey Jagtiani

Retail mogul Mickey Jagtiani, 71, is the biggest gainer on the list, having increased his wealth by $1.9 billion since 2022. He worked as a taxi driver in London before moving to Bahrain, opening a children's shop in 1973, and then his business flourished into the Dubai-based Landmark Group.

The Group has 2200,24 stores in <> countries in the Middle East, Africa, Southeast Asia and the Indian Subcontinent. His three children also hold managerial positions in the group and oversee its various activities.


Ravi Pillai

Indian-born and descendant of a rural family, Ravi Pillai migrated to Saudi Arabia after his construction business in his home state of Kerala went bankrupt. With the help of a local partner, Dubai-based Pillay started again in 1978 and founded the RP Group to generate $7.8 billion in revenue in the construction sector. The construction mogul has also invested his fortune in his home country, buying stakes in banks, hotels and real estate. Net worth in 2023 is about $3.2 billion.


Sunny Varkey

Sunny Varkey, 66, heads GEMS Education, the world's largest school management group for all levels. CVC Capital Partners became a valued partner in GEMS Education Private Group in 2019.

His sons Dino and Jay also manage the group as CEO and CEO respectively. Sunil Mongal, who belongs to the Mongal motorcycle family, took a minority stake in the group.

Net worth in 2023 is about three billion dollars.


Shamsheer Vayali

Shamsheer Vayalil, founder and chairman of Burjeel Holding Group, resides in Abu Dhabi. According to Forbes, net worth in 2023 is $2.2 billion.

His net worth has been consolidated since October 2022 following the listing of Burjeel Holding, a group consisting of a network of hospitals, clinics and pharmacies, on the Abu Dhabi Securities Exchange (ADX).

Born in the Indian state of Kerala to a family running their own business, he migrated to the Middle East after completing his medical studies and working as a radiologist at a local hospital.

Today, his holding group owns 39 hospitals and medical centers in the UAE and Oman. He is a member of the Emirates Medical Association and the Advisory Committee of the College of Medicine at the University of Sharjah.


Thaksin Shinawatra

Thailand's former prime minister, Thaksin Shinawatra, 73, has been home to Dubai for more than a decade. Net worth in 2023 is about $2.1 billion.

He owns a majority stake in SC Asset, along with other investments.

Taksin invests in two UK-based healthcare startups, DnaNudge and Owlstone Medical.


PNC Menon

Sobha Real Estate, owned by PNC Menon, spans across the UAE, Qatar, Oman and other Gulf countries. Net worth in 2023 is about $1.6 billion.

The self-made real estate developer left the Indian state of Kerala for Oman in 1976 to establish an interior decoration project with his partner. When he saw an opportunity in the real estate sector in his home country, he founded Sobha Developers, named after his wife, in Bangalore in 1995.

Today, his son Rafi, an engineer and graduate of Purdue University, runs Sobha Developers while Menon resides in Dubai.


Burman Saket

Saket Borman, 46, lives in Dubai, the fifth generation of the Borman family that founded Dabur, India's fourth-largest consumer goods company. He inherited a minority stake and a seat on Dabur's board of directors from his father, Siddharth Borman, who died in 2015. His other properties include real estate and financial investments. In August 2022, he assumed the position of Vice Chairman of the Board of Directors of Dabur. Net worth in 2023 is about $1.5 billion.