The Gulf’s Indian diaspora is unquestionably one of its most influential groups. We take a closer look at some of the top billionaires, business legends, entrepreneurs and executives that have shaped the community and wider economic landscape
RICH LIST
Although wealth isn’t everything, it’s hard to ignore the financial clout of these business figures. On top of being the wealthiest Indians in the Gulf they are also among the most philanthropic with several committing to give at least half of their fortune to charity
YUSUFF ALI M.A.
LuLu Group: $4.2bn
Kerala-born Yusuff Ali M.A. is one of the UAE’s richest and most well recognised businessmen. His LuLu Group is among the largest supermarket chains across the GCC, Egypt, India and the Far East having opened its 148th store in Abu Dhabi at the beginning of July. When he is not leading the business, which has an annual turnover exceeding $7.42bn, he is equally active on the social front having been awarded the prestigious Padma Shri by the Indian government in 2008 for his contribution to business and society.
B.R. SHETTY
NMC Health / UAE Exchange / Travelex Group: $4.2bn
B.R. Shetty found his fortune in the UAE in the 1970s. Having started in pharmaceuticals in Abu Dhabi in 1973 he later expanded into healthcare creating what was to become NMC, one of the UAE’s largest healthcare providers and the first healthcare firm from the Middle East to make it into London’s FTSE100. On top of his business sense, having also founded currency house UAE Exchange, BRS Ventures and Finablr, Shetty appears intent to be remembered for his philanthropic efforts after signing the Giving Pledge –started by billionaires Bill Gates and Warren Buffett – to donate half of his wealth to charity.
RAVI PILLAI
RP Group: $3.6 bn
This story is from the August 2018 edition of Gulf Business.
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This story is from the August 2018 edition of Gulf Business.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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