Rich families and their companies: Learn about the richest families in the Emirates

Dubai is home to more than 68.4 millionaires, as well as 206 people with fortunes exceeding $100 million and 15 billionaires with fortunes over a billion dollars.

The UAE is an attractive environment for wealthy individuals from around the world due to its strategic and international location, fertile environment, flexible and secure business laws.

According to US-based Henley & Partners, Dubai is home to more than 68.4 millionaires, as well as 206 people whose fortunes exceed $100 million and 15 billionaires with fortunes of more than a billion dollars.

Volt Wealth, a company specializing in private wealth management, has estimated total family wealth in the UAE at a trillion dollars (Dh3.67 trillion). According to the company's report, family fortunes in the UAE are expected to grow more than 7% annually due to the diverse investment opportunities and prospects for successful business development in the country.

According to Forbes economic magazine, 80% of the UAE's wealthy family-owned companies have been privileged with world-class brands inside and outside the country, such as automotive agencies, fashion, consumer goods, food and beverages, and restaurants. They have also achieved significant success in these industries.

The richest families in the UAE:

• The Al-Futtaim family:Is the richest family in the UAE with a net worth of $2.4 billion and revenues exceeding $9.9 billion in 2022, up 12% from 2021, according to Forbes economic magazine. Al-Futtaim Group has more than 200 brands in 20 countries and employs 33,000 people through its operations in automotive, financial, real estate, retail and healthcare. They also operate in the retail, real estate, entertainment, food, beverage and lifestyle industries in the Middle East, Africa and Central Asia. The Group has attracted the French brand Carrefour to the Middle East, holding exclusive rights to operate it in 30 countries and operating 458 Carrefour stores.
• The Al Ghurair family:Is one of the richest families in the UAE with a fortune of about 3.2 billion dollars and is a leading family in the industry. They have investments in 50 countries in the sectors of food, resources, real estate, construction, energy, transportation and others, as well as 28,000 employees. The car manufacturing company, a subsidiary of the group, has entered into a strategic partnership with Chinese car manufacturer EXEED to become the sole dealer of their SUVs in the UAE. In April last year, Al Ghurair Food Company signed 50-year land leases totaling $272.3 million with Kiazad Economic Zones in Abu Dhabi. BurJuman Shopping Mall in Dubai is one of the group's major real estate and retail projects. Gulf Petrochemicals, a subsidiary of the group, is one of the largest producers of double-skinned polypropylene film used for food packaging and is also involved in metal fabrication through Gulf Steel & Steel Industries.
• The Situani family:It has a net worth of around $4.5 billion and owns a portfolio of assets in the sectors of real estate, technology, retail, fashion, hospitality, and logistics.