Majid Al Futtaim is the founder and owner of Majid Al Futtaim Holding, a conglomerate based in the United Arab Emirates. The company has interests in retail, leisure, hospitality, and real estate.
It is one of the leading developers and operators of integrated lifestyle communities in the Middle East, North Africa, and Central Asia. So, what is Majid Al Futtaim’s net worth?
Majid Al Futtaim had an approximate net worth of $6.1 billion, at the time of his death. This fortune has been earned by the company through its many businesses which include retail, leisure, and hospitality. It is indeed true that he was the top richest guy in Dubai.
At the time of his death, he made more than 10 million dollars every month on average.
Besides, Majid Al Futtaim Group is worth 8.8 billion dollars. In 2017, he made no fewer than 600 million dollars. It helped him to grow his fortune a lot.
What did Majid Al Futtaim do for a Living?
Majid Al Futtaim is the Chairman of a group of companies called Majid Al Futtaim Group, which works for real estate business and retail conglomerates. He founded the company in 1992.
Since then, the company has become one of the fastest-growing companies in the United Arab Emirates. All the income sources have been given below to understand better at a glance:
- Retail Business
- Real Estate Business
Retail and Shopping Mall
Majid Al Futtaim Group is currently running 120 supermarkets and 90 hypermarkets in fifteen different countries. Besides, he has an official website.
From here, he operated his business perfectly. Only in the Middle East, there are 29 shopping malls with a leasable area of 1 million sqm.
The company welcomes more than 1.6 billion customers every year on average. In fact, from different retail markets, hypermarkets, and supermarkets, the company makes more than 500 million dollars every year.
Real Estate Business
In 1995, Majid Al Futtaim founded another automobile distribution company called Al Futtaim Motors. It is the distributor of many automobile companies, including Toyota, Hino, Lexus, Toyota Handling Parts, etc.
Moreover, Majid Al Futtaim Group purchased around 88 percent share of Robinson & Company.
What Companies Does Majid Al Futtaim Own?
Majid Al Futtaim owns several companies. All companies’ names have been given below to know better:
- Abercrombie and Fitch
- All Saints
- LEGO Certified Store
- Crate and Barrel
- THAT Concept Store
- Robinson & Co
- Lululemon Athletica
For entertainment, Majid had no fewer than 7 movie theaters. All the names are-
- Magic Planet
- Ski Dubai
- Ski Egypt
- Little Explorer
- iFly Dubai
- VOX Cinemas
How many malls does Majid Al Futtaim have?
Majid Al Futtaim owns and operates 27 malls across the Middle East and North Africa, including 12 in the United Arab Emirates. The company plans to have 36 malls operational by 2023.
Al Futtaim’s malls are some of the most popular in the region, attracting tens of millions of visitors each year. The malls offer a wide range of shopping, dining and entertainment options, as well as other services such as childcare, healthcare and education.
Some of the most well-known malls operated by Majid Al Futtaim include Mall of the Emirates, City Centre malls, My City Centre malls and Masdar City in Abu Dhabi.
How Did Majid Al Futtaim Die?
In 1934, Majid Al Futtaim was born in the United Arab Emirates. He was the topmost businessman in Dubai. He was the founder of Majid Al Futtaim Group of Company. Besides, the company has big projects in Asia and Africa.
Al Futtaim Group of Company’s crew members confirmed that Majid Al Futtaim died on 17 December 2021.
Who is the Richest Guy in Dubai?
Majid Al Futtaim is an Emirati entrepreneur. He is best known for founding a company called Majid Al Futtaim Group. He also has a retail real estate business. He is currently the richest guy in Dubai.
And Majid Al Futtaim placed his name in no. 4 as a top billionaire in UAE.