Five Indian expats in UAE enter Forbes' billionaires list for 2019

Prominent retail business tycoon MA Yusuff Ali, who ranks at 394 on the list, is the richest Indian expat in UAE with assets estimated over USD 4.7 billion.

Published: 28th March 2019 12:32 AM  |   Last Updated: 28th March 2019 12:32 AM   |  A+A-

Dubai

For representational purposes

By PTI

DUBAI: Five Indian expats in UAE have been named in the Forbes' billionaires list for 2019.

The combined worth of the five expats, including three from Kerala, is a whopping USD 15.1 billion (Rs 1.04 trillion), the Khaleej Times reported.

Prominent retail business tycoon MA Yusuff Ali, who ranks at 394 on the list, is the richest Indian expat in UAE with assets estimated over USD 4.7 billion.

Ali, a Padma Shri winner, hails from Nattika in Kerala's Thrissur district. He is the Chairman and Managing Director of LuLu Group International that owns the Lulu Hypermarket chain worldwide and LuLu International Shopping Mall.

Next in the list is Micky Jagtiani, owner of the Dubai-based Landmark retail stores group, who went from being a London cabbie to Emirati billionaire businessman.

The retail magnate is worth nearly USD 4 billion. His overall rank is 478.

Born in Kuwait, Jagtiani did his schooling in Chennai, Mumbai and Beirut, before moving to London.

BR Shetty, founder and chairman of Abu Dhabi-based NMC Healthcare, is third in the list with assets worth USD 2.8 billion. His overall rank is 804.

The billionaire, who hails from Udupi in Karnataka, is famously known for owning two floors in the world's tallest structure, Dubai's Burj Khalifa.

Sunny Varkey, education entrepreneur and philanthropist from Kerala, is the fourth richest UAE expat with assets worth USD 2.4 billion. He ranks 962 on the list.

Varkey is the founder and chairman of the global advisory and educational management firm GEMS Education, which has a network of over 130 schools in over a dozen countries.

PNC Menon, an Omani property developer hailing from Thrissur in Kerala, also made it to the list with assets worth USD 1.1 billion. He ranks at 1,941 in the overall list.

Stay up to date on all the latest World news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp