List: 50 Richest Indians in the GCC 2016

This post was originally published on 15 February 2016.

Sunil Vaswani is once again the Gulf’s richest Indian with a net worth of $7.1 billion, according to the sixth Arabian Business Indian Rich List, which was published on Sunday.

The Stallion Group chairman comfortably beat Landmark Group boss Micky Jagtiani into second place. Vaswani’s company, based in Dubai, is one of the largest conglomerates in sub-Saharan Africa.

With a net worth of $5.5 billion, Micky Jagtiani has come a long way since from ditching his job as a London taxi driver and moving to Bahrain to open a baby products shop in the 1970s. His Landmark Group has 2,000 outlets across the Middle East, Africa and the Indian subcontinent, and has 50,000 employees.

In third place is Dr Ravi Pillai, whose RP Group is the largest industrial contractor in the Middle East. With nearly 100,000 employees, the conglomerate also has interests in property, hospitality, travel and tourism, retail, healthcare and education. His net worth is valued at $4.6 billion.

LuLu Group International chairman Yusuffali MA is in fourth place, with a net worth of $4.47 billion. This year, for the first time, Yusuffali provided Arabian Business with an exclusive breakdown of his wealth. The investment in his own business is valued at just under $2.5 billion, with the rest coming from his real estate portfolio, stocks and bonds; vehicles including a private jet, precious metals, jewellery and others.

Making up the top five is the Allana family, which run both the Allana Group and IFFCO, based in Sharjah. Their net worth is valued at $3.3 billion.

Other individuals to make the top ten included NMC Health boss BR Shetty, GEMS Education founder Sunny Varkey, Kataria Holdings founder Raghuvinder Kataria and Aster DM Healthcare chairman Azad Moopen.

Of the 50 Gulf-based Indians ranked on the list, 17 are working in the retail sector, while 13 are based in industry. More details about the top 50 are available on Arabian Business Magazine.

Source: Arabian Business

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  1. suneetha mutyala

    those who are interested to invest amount on land in Vijayawada near Gannavaram airport surroundings below 20 kilometres

  2. Dr.Azad Moopen , No, 1 criminal , he cheating indian Poor People on name of Hospital name , He creating criminal , illegal money earning even Govt of India also supporting him

  3. The most crucial for the planet is how the rich is using their wealth . It is used for the welfare of planet earth or to its people it is an asset , otherwise it is a liability to other people who have to suffer the burden of the rich possessing the earth resources.

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