Dubai has transformed itself from a local trade center into a universal power in the areas of luxury real estate, technology, retail, and investment. In 2025, the wealthiest people in the emirate are mainly comprised of businessmen who have established billion-dollar empires in various industries like luxury houses and messaging apps. This luxuriously rich aspect of the city’s economy is reflected in the lives of the ten richest residents of Dubai from across different industries. An overview of their fortunes is shared below.
1. Pavel Durov – Tech Billionaire
At the top of the list is Pavel Durov, founder of the social networks VK and Telegram. With an estimated net worth of US$17.1 billion in 2025, he is now widely acknowledged as the richest person in Dubai. The emergence of Durov is a signal that digital platforms and global user bases are becoming as stunningly profitable in the emirate as real estate and oil once were.
2. Hussain Sajwani – Real Estate & Luxury Hospitality
The second place on the list is taken by DAMAC Properties founder Hussain Sajwani, whose net worth is estimated at US $10.2 billion. His business is based on luxury real estate and hospitality, which still considers Dubai as a high-end developed place with global investors and branded residencies.
3. M.A. Yusuff Ali – Retail and Hypermarkets
M.A. Yusuff Ali, the billionaire of Indian origin who heads the LuLu Group, is projected to have a net worth of around US $7.4 billion in 2025. The Gulf region has not only witnessed the rise of his huge retail empire that comprises supermarkets and hypermarkets, but also the power of retail infrastructure as the most significant wealth generator in the UAE.
4. Majid Al Futtaim – Retail & Entertainment
Majid Al Futtaim leads a diversified business that operates shopping malls, entertainment centers, and real estate projects, with his net worth projected to be around US$6.2 billion by 2025. His business is one of the pillars of Dubai’s modern infrastructure for lifestyle, leisure, and commerce.
5. Micky Jagtiani – The Retail Leader
Micky Jagtiani (Mukesh Wadhumal Jagtiani) ranks next, with a fortune of US $5.2 billion. As the chairman of Landmark Group, his influence is very vast in the Middle East and India, showing the cross-border aspect of several fortunes that are based in Dubai.
6 to 10 – Wealth Diversification
Others in the top-ten list are:
Sunny Varkey (education and investment)
– approximately US $4 billion
Ravi Pillai (construction, real estate)
– approximately US $3.8 billion
Rizwan Sajan (property, retail)
– approximately US $2.5 billion
Mohammed Khalaf Al Habtoor (hospitality, real estate)
– approximately US $2.3 billion
Abdullah Al Futtaim (automotive, retail)
– approximately US $2.2 billion
These people support the trend: Dubai is a place where the local infrastructure meets the global vision, thus attracting the tech-savvy and innovative people.
What This Tells Us About Dubai’s Economy
Multi-faceted wealth creation: Every sector, such as technology, retail, real estate, hospitality, and education, plays a part.
Global talent & residence: A significant proportion of the world’s richest people are living outside their countries, which emphasizes the position of Dubai as a worldwide center.
Investment climate: The very low taxation levels, along with the excellent positioning and the availability of up-to-date infrastructure, are the factors that attract rich individuals.
Transition from oil to innovation: The traditional oil money is being replaced by digital platforms and internationally branded businesses.
