Majid Al Futtaim

Majid Al Futtaim
Residence Dubai, United Arab Emirates
Nationality Emirati
Occupation Founder and owner, Majid Al Futtaim Group
Net worth $10.9 billion (March 2017)[1]
Relatives Abdulla Al Futtaim (cousin)

Majid Al Futtaim (Arabic: ماجد الفطيم) is an Emirati businessman, the founder, owner and president of the Majid Al Futtaim Group, an Emirati real estate and retail conglomerate, with projects in Asia and Africa. As of March 2017, Al Futtaim's net worth is estimated by Forbes at US$10.9 billion, the second richest individual in the Middle East.

Early life

Majid Al Futtaim is the first cousin of fellow billionaire Abdulla Al Futtaim, the head of the Al-Futtaim Group, from whom he is estranged.[1]

Majid Al Futtaim with Sheikh Rashid bin Saeed.

It currently spans 15 international markets and employs over 33,000 people.[2]

Career

He is the owner and president of Majid Al Futtaim Group, which he founded in 1992 after splitting the Al Futtaim empire with his cousin.[3]

According to Forbes, Al Futtaim has a net worth of $5 billion, as of February 2016.[1] In July 2013, Forbes named him as the richest entrepreneur from the UAE.[4]

Notable buildings

His company's most notable properties include the Mall of the Emirates, complete with an indoor ski slope, as well as the Mall of Egypt that was planned to open in 2016.[5]

Personal life

Al Futtaim is married and lives in Dubai.[1] His son Tariq Al Futtaim also works for the Majid Al Futtaim Group.[1]

Al Futtaim owns the yacht Quattroelle, built by Lurssen in 2013 for Michael Lee-Chin, who sold it in 2014. It has a crew of 29.[6]

References

  1. 1 2 3 4 5 "Majid Al Futtaim". Forbes. Retrieved 19 February 2015.
  2. ↑ "Company Website". Retrieved 9 January 2017.
  3. ↑ "Majid Al Futtaim". Bloomberg. Retrieved 19 February 2015.
  4. ↑ Neuhof, Florian. "Majid Al Futtaim, with $3.6bn, named richest UAE businessman", 'The National', 15 April 2013. Accessed 28 October 2015.
  5. ↑ "#270 Majid Al Futtaim & family".
  6. ↑ "Motor Yacht Quattroelle". Superyachtfan. Retrieved 21 January 2015.
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