Forbes released its list of the world’s billionaires on March 6, 2018. Out of the 2,208 billionaires world-wide, India had 121 entries putting the South Asian country just behind the U.S. and China, with the third largest group of moneyed individuals. Reliance Industries Chairman Mukesh Ambani is the richest Indian on the globe with a net worth of $40.1 billion, making him the 19th richest person in the world.
Many Indians on Forbes’ Billionaires list have reaped their fortunes in the Gulf while some inherited their family’s business expanding it vastly in the region.
Forbes 2018 list includes eight such Indians who set-up their business in the GCC and made it big with operations in several countries across the global. Abu Dhabi-based retail giant M.A. Yusuff Ali, who started out working at his uncle’s retail unit, now owns a chain of 144-Lulu stores (hypermarkets and supermarkets) in over 21 countries. Sunny Varkey’s GEMS Education, which he took over from his parents in 1980, is the largest operator of K-12 schools in the world with 250 schools in its portfolio.
The combined net worth of these eight billionaires is $24.9 billion. Net worth is calculated as on March 6, 2018.