Dubai's 2026 wealth hierarchy places Hussain Sajwani at the summit, with an estimated $15.3 billion fortune derived from his real estate empire, DAMAC Properties. The ranking, compiled from data by Forbes and the Bloomberg Billionaires Index, brings together Emirati tycoons and expatriate entrepreneurs who have made the emirate their home. Sajwani's lead is substantial, putting him ahead of technology and retail magnates who have also chosen Dubai as their base.
How the 2026 list was compiled
Wealth estimates are subject to change due to market movements and private business valuations, so the order reflects publicly available information as of mid-2026. The ruling Maktoum family is not included because their assets are not independently verified in the same manner as commercial fortunes. This means the list focuses on entrepreneurs, executives, and investors whose wealth can be traced through business records and shareholdings. The source of each fortune varies widely, from real estate development and banking to retail chains and healthcare networks.
Top five billionaires in Dubai
1. Hussain Sajwani ($15.3 billion)
Hussain Sajwani, 74, is an Emirati businessman who founded DAMAC Properties in 2002. Under his leadership, the company has delivered tens of thousands of homes, including luxury towers, communities, and hotels. DAMAC pioneered branded real estate in the Middle East through partnerships with Versace, Fendi Casa, Cavalli, Bugatti, and Pagani. Beyond Dubai, the developer has expanded to London with DAMAC Tower Nine Elms and other Middle Eastern markets.
2. Pavel Durov ($6.6 billion)
Pavel Durov, 41, is the chief executive of Telegram, a messaging app he launched in 2013 with his brother Nikolai. Born in the Soviet Union, he previously co-founded VKontakte in 2006. After leaving Russia in 2014, Durov moved Telegram's headquarters to Dubai Media City in 2017. Telegram now has more than 1 billion monthly active users, making it one of the world's largest communication platforms. Durov holds French, UAE, and St. Kitts and Nevis nationality.
3. M.A. Yusuff Ali ($5.5 billion)
Yusuff Ali Musaliam Veettil Abdul Kader, 70, is the chairman and managing director of LuLu Group International. He moved to Abu Dhabi in 1973 to join his uncle's trading business and later expanded into supermarkets. The first LuLu Hypermarket opened in the 1990s, and the group now operates hypermarkets, shopping malls, food processing plants, and logistics hubs across several countries. LuLu Retail completed a major public offering on the Abu Dhabi Securities Exchange, cementing the group's scale.
4. Micky Jagtiani & Family ($5.2 billion)
Mukesh Wadhumal 'Micky' Jagtiani, who passed away in 2023, founded Landmark Group, one of the largest retail and hospitality companies in the Middle East, Africa, and India. Starting with a small baby-care shop in Bahrain in 1973, he built brands such as Centrepoint, Splash, Babyshop, Shoe Mart, Lifestyle, and Home Centre. The group also introduced Fitness First and Fun City. Following his death, his wife Renuka Jagtiani became chairwoman, and the family continues to manage the business.
5. Joy Alukkas ($5.0 billion)
Alukkas Varghese Joy, 70, transformed his family's traditional jewellery business into Joyalukkas, a global retail brand headquartered in Dubai. The company operates more than 200 showrooms across 13 countries, including the UAE, India, the UK, USA, Singapore, Malaysia, Australia, Saudi Arabia, Qatar, Oman, Kuwait, and Bahrain. Joyalukkas offers gold, diamond, platinum, and silver collections, and also runs Joyalukkas Exchange, a financial services and money remittance business with dozens of branches in the Middle East.
The rest of the top 15
The second half of the list features a mix of finance, construction, food, education, and healthcare entrepreneurs. Abdulla bin Ahmad Al Ghurair and family rank sixth at $4.7 billion; the Mashreq Bank founder's construction businesses contributed to the Burj Khalifa and the Dubai Metro. Abdulla Al Futtaim and family follow at $4.6 billion, controlling Al-Futtaim Group, the exclusive distributor of Toyota, Lexus, Honda, Volvo, and Jeep in the UAE, and the developer of Dubai Festival City.
Feroz Allana, eighth, is worth $4.4 billion through IFFCO Group, a food and agribusiness giant with brands like Tiffany, London Dairy, Noor, and Al Baker, sold in more than 100 countries. Ravi Pillai, ninth, has built a $4.2 billion fortune from RP Group, an engineering and construction powerhouse serving oil, gas, and petrochemical clients in Saudi Arabia and the wider region. Sunny Varkey, tenth, is valued at $4 billion; his GEMS Education operates the world's largest private K-12 school network, and he has received India's Padma Shri as well as a UNESCO Goodwill Ambassador role.
Khalaf Ahmad Al Habtoor, 11th, holds $2.3 billion from Al Habtoor Group, whose assets include Al Habtoor City, Waldorf Astoria Dubai Palm Jumeirah, and Al Habtoor Polo Resort, along with automotive distribution for brands such as Mitsubishi, Bentley, Bugatti, and Rimac. Dr. Shamsheer Vayalil, 12th, has $1.8 billion as founder of Burjeel Holdings, a healthcare provider listed on the Abu Dhabi Securities Exchange; he is also the first Gulf healthcare billionaire to sign The Giving Pledge. Saif Al Ghurair's family, 13th, is worth $1.7 billion, with Al Ghurair Group having developed Dubai's first mall, Al Ghurair Centre, and an iron and steel business. Sunil Vaswani, 14th, has $1.6 billion as chairman of Stallion Group, a conglomerate active in automotive assembly, commodities, food, petrochemicals, and port operations, representing Nissan, Hyundai, Volkswagen, and Porsche. Philip Day, 15th, rounds out the list at $1.2 billion; the British entrepreneur owns Peacocks and The Edinburgh Woollen Mill, after acquiring brands like Jaeger, Austin Reed, and Bonmarche.
Who is the richest person in Dubai?
Hussain Sajwani remains the wealthiest individual in Dubai, according to the compiled data. His $15.3 billion net worth comes primarily from DAMAC Properties, making him the clear leader on the 2026 list.
How many billionaires live in Dubai?
An exact figure for Dubai alone is not officially available. However, The Times of India reports that the United Arab Emirates has 17 resident billionaires, most of whom are based in Dubai. This figure includes both citizens and expatriates.
Dubai's richest family and a comparison with Elon Musk
The Sajwani family is widely regarded as the richest family in Dubai in 2026, with a combined estimated net worth of $15.3 billion. In comparison, Dubai's Crown Prince, Sheikh Hamdan bin Mohammed Al Maktoum, has an individual net worth estimated between $1 billion and $2 billion. Elon Musk, the world's wealthiest person, is far richer, with a fortune estimated at approximately $708.8 billion.
Dubai's billionaires have helped transform the city into a global business hub, with investments spanning real estate, retail, technology, and healthcare. Their entrepreneurial drive continues to shape the emirate's economy and international standing, making the list a reflection of Dubai's diverse and dynamic commercial landscape.
