Majid Al Futtaim & family
Middle East Rank: 3
Global Rank #: #831
Net Worth 2021: $3.6 B
Change: + $300 M
Age : N/A
Country : United Arab Emirates
Sector : Real Estate, Retail
Majid Al Futtaim founded retailing and entertainment giant Majid Al Futtaim Holding, known as MAF, in 1992.MAF owns and operates 13 hotels and 26 malls, including Mall of the Emirates in Dubai and the Mall of Egypt in Cairo. It also has the exclusive license to operate hypermarkets for French company Carrefour across the Middle East, North Africa and Central Asia. His son Tariq sits on the board while non-family members manage the conglomerate, which publishes its revenues and profits annually. The group had $9.4 billion in revenue in 2018, but registered a small loss because of a market downturn.