3. M.A. Yusuff Ali

Net Worth: $7.6 B
Age: 68
Residence: U.A.E.
Nationality: Indian
Industry: Fashion & Retail

Middle East retail king M.A. Yusuff Ali presides over $8.4 billion (revenue) LuLu Group International, with 256 hypermarkets and malls in the Gulf and elsewhere. Hailing from a village in Kerala state in south India, Yusuff Ali left for Abu Dhabi in 1973 to join his uncle's small distribution business. In April 2020, a member of Abu Dhabi's royal family reportedly acquired a 20% stake in LuLu for $1 billion. Yusuff Ali is planning to list the retail business in 2023-2024. Other assets include the Waldorf Astoria in Scotland and the Great Scotland Yard Hotel, the former headquarters of the U.K. Metropolitan Police.