Dubai has evolved from a small trading port to one of the world’s leading business destinations, attracting many of the richest people in Dubai. The city draws investors, entrepreneurs, and wealthy individuals from around the world because of its tax-friendly policies, excellent infrastructure, global connectivity, and business-friendly environment.
Dubai offers a great standard of living, making the city attractive to wealthy individuals. These benefits have made the city an attraction for self-made entrepreneurs as well as successful business families all over the world.
In this article, we will learn about the richest people in Dubai in 2026, how they built their fortune and impact on Dubai’s economy and society.
Who Are the Richest People in Dubai in 2026?
The following list shows the 10 most wealthy individuals in Dubai for 2026. The ranking is based upon estimates of net worth and their business ownership to the respective industries. The figures are estimates and may change with the market condition.
1. Pavel Durov
- Net worth: Approximately $17.1 billion
- Nationality: Russian (UAE resident)
- Company/business: Founder and CEO of Telegram; co-founder of VKontakte (VK)
Pavel Durov built his fortune through the creation of VKontakte (VK), which is one of Russia’s most viewed social media platforms, before founding Telegram in 2013. Telegram has grown into one of the top messaging applications, renowned for its security and privacy.
Durov later relocated to Dubai where he oversees Telegram business operations across the globe and is widely considered to be one of the city’s richest tech entrepreneurs. Durov supports internet freedom and digital privacy and is famous for his minimalist lifestyle despite his fortune.
2. Hussain Sajwani
- Net worth: Approximately $10.2 billion
- Nationality: Emirati
- Company/business: Founder and Chairman of DAMAC Properties
Hussain Sajwani began his career in catering and later shifted to real estate, after Dubai opened its real estate market for foreign investors. He established DAMAC Properties, which became one of the largest Middle Eastern luxury properties. The company is known for its luxurious projects designed in collaboration with international brands like Versace as well as Cavalli. A significant moment in his career was taking the company through the financial crisis of 2008.
He also promotes training and education programs through the foundation that his family founded. He is often focused on the long-term economic development of his business over the short-term gain.
3. M. A. Yusuff Ali
- Net worth: Approximately $7.5 billion
- Nationality: Indian (UAE resident)
- Company/business: Chairman of LuLu Group International
M. A. Yusuff Ali earned his fortune through building LuLu Group from a small retail store to one of the biggest supermarket chains across the Middle East. Today, The company has hundreds of stores in the Middle East, Asia, India and Africa with an interest in manufacturing, hospitality as well as real estate.
The success has led him to be one of the most powerful Indian-born billionaires across the Gulf. He is also known for his supporting healthcare, education and disaster relief programs. He is famous for combining business growth with social responsibility and employee welfare.
4. Renuka Jagtiani
- Net worth: Approximately $5.6 billion
- Nationality: Indian (UAE resident)
- Company/business: Chairwoman and CEO of Landmark Group
Renuka Jagtiani was hired by Landmark Group in 1993 and took over the management of the company following the passing of her husband Micky Jagtiani. Under her leadership, Landmark Group has continued expanding its brands like Max Fashion, Splash, Lifestyle as well as Centrepoint in regions including the Middle East, Africa, and Asia. Landmark Group has made significant investments in digital transformation and e-commerce.
She continues to support the community and develop workforce initiatives through the company’s charitable efforts. Renuka Jagtiani is widely regarded as the most successful woman in Dubai and is one of prominent business leaders across the Middle East.
5. Majid Al Futtaim (Family Legacy)
- Net worth: Multi-billion dollar family holding (individual family estimates vary)
- Nationality: Emirati
- Company/business: Majid Al Futtaim Holding
Majid Al Futtaim founded his company in 1992, and transformed it into one of the biggest retail, real estate and entertainment groups within the Middle East. The company is present in over 20 different countries and employs a large number of people. Its portfolio includes shopping malls, cinemas as well as hypermarkets.
An interesting fact is that Majid Al Futtaim introduced the modern concept of shopping malls in the Middle East. The company also supports sustainable initiatives and community development within the markets. It played a significant role in Dubai’s growth as a top entertainment and retail destination.
6. Abdulla Al Futtaim
- Net worth: Multi-billion dollar family holding (individual estimates vary)
- Nationality: Emirati
- Company/business: Al-Futtaim Group
Abdulla Al Futtaim leads the Al-Futtaim Group, one of the largest and most powerful family-owned businesses. It is a majorly representative of international brands like Toyota, Lexus, IKEA as well as Marks & Spencer. Its operations span automotive distribution, retail, real estate, financial service and banking services. It also promotes education, sustainability, as well as community development through its diverse business divisions.
A fascinating fact is that the company’s Toyota Distribution business is one the most profitable and successful business operations of UAE in the company’s history. The company’s growth has been driven by bringing internationally recognized brands into the region.
7. Raghuvinder Kataria
- Net worth: Approximately $2.5 billion
- Nationality: British (UAE resident)
- Company/business: Chairman of Kataria Holdings
Raghuvinder Kataria started his career with International Computers Limited, where he was promoted to the post of European treasurer. Later he moved into the telecom industry and established Jasmine Telecom in Thailand. Kataria later created Kataria Holdings with investments in telecommunications as well as real estate property in Dubai. He is a part of various charitable and community initiatives that are linked to Dubai’s business industry.
A must known fact is that his profession began with business finance in the UK to the telecom infrastructure in Asia before establishing his own business ventures in Dubai. His journey reflects the diverse background of Dubai’s most successful entrepreneurs.
8. Sunil Vaswani
- Net worth: Approximately $1.9 billion
- Nationality: Indian-born Nigerian (UAE resident)
- Company/business: Chairman of Stallion Group
Sunil Vaswani took control of the family business at the age of 21 and turned Stallion Group into a large multinational conglomerate. The company is active across all of the Middle East, Asia, and Africa with an interest in automotive manufacturing and other commodities.
Dubai is the ideal base to connect African as well as Asian markets. His success reflects the importance of global trade networks and highlights why he is among the richest people in Dubai.
9. Abdulla Al Naboodah
- Net worth: Approximately $1.9 billion
- Nationality: Emirati
- Company/business: Al Naboodah Group
Abdulla Al Naboodah is a leading member of the Al Naboodah Group, a family-owned business with interests in construction, logistics, civil engineering and distribution of automotive parts. The company has played an important role in the development of Dubai by helping to construct major bridges, roads, along with other infrastructure projects. It also has supported the development of communities and initiatives through its construction and engineering business.
This company works on Dubai’s important public infrastructure projects. Its long-term partnerships with international engineering and automobile brands are a key element in its ongoing achievement.
10. Rizwan Sajan
- Net worth: Approximately $1.8 billion
- Nationality: Indian (UAE resident)
- Company/business: Founder and Chairman of Danube Group
Rizwan Sajan was the founder of Danube Group as a building material trading company and later expanded into real estate. He became well known for providing affordable payment plans as well as low down-payment housing options that helped buyers in Dubai. His customer-friendly approach to pricing that earned him the title of “1-Dirham Man.” He also has a strong support for the causes of charity that are related to housing and social welfare.
It is interesting to note that Danube was initially a small-scale trading business. Sajan’s success comes from the focusing on middle incomes homebuyers rather than only luxury property investors.
Summary
Dubai’s wealthy residents come from a wide range of backgrounds. Some built their fortune by leveraging technology, while others have made it through real estate, retail manufacturing, or established family-owned enterprises. Despite their various routes to success they all have chosen Dubai due to its thriving business environment and strong international connections.
As Dubai continues to attract entrepreneurs, investors, and multinational companies, the list of the richest people in Dubai is expected to grow and change over the next few years.
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