Dubai is a city of ambition, where luxury, innovation, and global commerce meet. Over the last few decades, it has transformed from a desert trading hub into a global metropolis with some of the richest people in the world calling it home. In this blog, we explore the top 12 richest person in Dubai in 2025, their net worth, business ventures, and contributions to the economy.
We’ll also answer the key your question: Who is the richest person in Dubai today?
Who is the Richest Person in Dubai?
As of 2025, the richest person in Dubai is Pavel Durov, founder of Telegram, with an estimated net worth of US$15.5–17.1 billion. He overtakes traditional real estate and retail tycoons because of the explosive growth of his tech empire.
But Durov is not alone. Real estate magnates like Hussain Sajwani (DAMAC), retail leaders like M.A. Yusuff Ali (Lulu Group), and education pioneers like Sunny Varkey (GEMS Education) dominate the billionaire scene.
The Top 12 Richest Men in Dubai
Here are 12 of the wealthiest men who live or have a significant base in Dubai, ranked by estimated net worth, along with their industry and why they feature among the richest.
| Rank | Name | Estimated Net Worth (USD) Approx | Industry / Major Ventures |
|---|---|---|---|
| 1 | Pavel Durov | ~$15.5-17.1 billion | Technology – Founder of Telegram (and VK previously). Resides/operates partly from Dubai. |
| 2 | Hussain Sajwani | ~$10.2-11 billion | Real Estate – founder & chairman of DAMAC Properties. |
| 3 | M.A. Yusuff Ali | ~$5.4-6.6 billion | Retail / Hypermarkets – Chairman of Lulu Group International. |
| 4 | Micky Jagtiani | ~$4.0-5.2 billion | Retail – Landmark Group. |
| 5 | Sunny Varkey | ~$3.8-4.7 billion | Education – founder of GEMS Education. |
| 6 | Abdulla Al Futtaim | ~$4.1-4.9 billion | Automotive, Retail, Real Estate – Al-Futtaim Group. |
| 7 | Abdulla Bin Ahmad Al Ghurair | ~$4.24-4.9 billion | Banking & Real Estate – prominent business family in banking & diversified holdings. |
| 8 | Ravi Pillai | ~$3.5-3.9 billion | Construction, Infrastructure – RP Group. |
| 9 | B.R. Shetty | ~$3-3.5 billion | Healthcare, Finance – founder of various healthcare institutions & financial services. |
| 10 | Joy Alukkas | ~$4.4 billion | Jewelry Retail – Joyalukkas Group. |
| 11 | Mohammed Khalaf Al Habtoor | ~$1.9-2.0 billion | Real Estate & Hospitality – Al Habtoor Group. |
| 12 | Saif Al Ghurair | ~$2.5-3.3 billion | Real Estate & Manufacturing – part of the Al Ghurair family. |
*Net worth values are estimates as of 2025. They can fluctuate with market, investments, and currency changes.
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Why Dubai Attracts Billionaires
Dubai is unique because:
- Zero personal income tax attracts global entrepreneurs.
- Strategic location makes it a hub between Asia, Europe, and Africa.
- World-class infrastructure supports real estate, retail, and tourism.
- Investor-friendly policies encourage foreigners to set up companies.
- Luxury lifestyle & safety make it a magnet for ultra-rich families.
No wonder some of the world’s wealthiest individuals either originate from or settle in Dubai.
What Makes Them the Richest?
- Diversification: Many of these individuals don’t rely on one sector. For example, business portfolios span real estate, retail, banking, tech, education, hospitality.
- Global Footprint: Though their base or significant presence is in Dubai/UAE, many have operations, investments, or influence globally, which helps in revenue diversity and resilience.
- Real Estate & Luxury Developments: Dubai’s growth in high-end real estate, luxury housing, tourism, and infrastructure gives major returns to those invested in property.
- Retail & Consumer Demand: Retail businesses like Lulu, Landmark, Joyalukkas benefit from increasing population and tourism.
- Technology: Pavel Durov is an example of pure tech wealth, less vulnerable to physical real estate risks, and benefiting from global digital product usage.
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Why Sometimes the Richest Person in Dubai Isn’t an Emirati Native
While many assume the “richest person in Dubai” must be a local, that’s not always true. Dubai is a global hub attracting businesspeople from all over the world who settle there, have residency, or run major operations from there (for tax, infrastructure, quality of life reasons). That’s why tech figures, retail magnates, or outsiders like Pavel Durov show up on such lists.
Challenges & Reliability of Wealth Rankings
When reading about richest people:
- Residency vs nationality distinctions matter: some may not be Emirati but live in or have business in Dubai.
- Estimates vary by publication (Forbes, Bloomberg, regional business magazines).
- Private ownership and business with undisclosed financials may lead to under-estimation.
- Market fluctuations, currency exchange, asset value changes affect net worth dramatically.
2025 Trends Among Dubai Ultra-Rich
- Increased interest in technology & digital platforms.
- Real estate remains central but luxury property is seeing both boom and cooling depending on location.
- Hospitality, tourism, and leisure continue to add to wealth due to Dubai’s global appeal.
- More foreign businesspeople establishing base in Dubai (tax incentives, residency benefits).
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Conclusion
- In 2025, the richest person in Dubai appears to be Pavel Durov based on available public data.
- Following him are major business figures like Hussain Sajwani, M.A. Yusuff Ali, Micky Jagtiani, Sunny Varkey, etc., each dominating key sectors.
- Real estate, retail, banking, and increasingly technology, remain foundational sectors for wealth in Dubai.
- Always take net worth numbers as well-informed estimates, not definitive statements.
In 2025, Dubai continues to be a magnet for billionaires, with Pavel Durov holding the crown as the richest person in Dubai. Real estate, retail, education, jewelry, and technology fuel the fortunes of others on this list.
With Dubai’s ambitious Vision 2030, zero-tax policy, and growing role as a global financial hub, the city will continue to produce and attract the world’s wealthiest individuals.
Dubai continues to be a magnet for global wealth, entrepreneurship, and business expansions. Watching how these individuals grow their influence offers insight into the future of Dubai’s economy and global business trends.
FAQ – Richest Person in Dubai
Pavel Durov, founder of Telegram, with ~US$15.5–17.1 billion.
Hussain Sajwani (~US$10–11 billion), founder of DAMAC Properties.
Yes, M.A. Yusuff Ali, Sunny Varkey, Ravi Pillai, Joy Alukkas, and others.
Real estate, followed by retail and increasingly tech.
Some are permanent residents; others split time globally.
It remains a key sector, but technology and digital platforms are playing a growing role. Retail & consumer demand also contribute significantly.
No. Though Hussain Sajwani is among the top (≈ US$10.2-11 billion), net worth for Durov is reported to be higher.
Several: M.A. Yusuff Ali, Micky Jagtiani, Ravi Pillai, Sunny Varkey are of Indian origin; others have foreign citizenship or business interests globally.
