Four UAE businessmen have been named in an annual list of the world's billionaires, joining wealthy entrepreneurs, property tycoons and famous investors.
Forbes magazine's list of global billionaires is made up this year of 1,226 people and headed by Carlos Slim, a telecommunications mogul from Mexico worth a cool US$69 billion (Dh253.44bn).
From the UAE, Abdul Aziz Al Ghurair, the speaker of the Federal National Council and the chief executive of Mashreq, ranks 401, worth an estimated $2.9bn.
Mr Al Ghurair is part of a wealthy dynasty of businessmen and is joined on the list by his uncle Saif Al Ghurair, worth $2bn, and the chairman of the Al Ghurair Group, a retail, property and manufacturing conglomerate based in Dubai.
The Al Ghurairs are joined by members of an equally well known family in the UAE, the brothers Abdulla and Majid Al Futtaim, worth $1.6bn and $1.1bn, respectively.
Abdulla owns the retail and automotive conglomerate Al Futtaim, which is the franchise holder for Ikea, Marks & Spencer and the dealer for Toyota, Honda, Lexus, Jeep and other car brands.
Majid Al Futtaim owns the eponymous retail conglomerate that owns and operates major malls throughout the Middle East and runs the Carrefour franchise.
Forbes began compiling its list of billionaires in 1987 with 140 names and this year's figure of 1,226 is an all time high, worth a total $4.6 trillion.
More than 50 reporters in 16 countries worked on compiling the Forbes 25th anniversary list, examining billionaires' net worth via assets such as stakes in public and private companies, property, yachts, art and cash, and accounting for levels of debt.
When looking at individuals owning privately held companies, such as those in the UAE, Forbes used estimates of revenues or profits and compared them with prevailing price-to-revenues or price-to-earnings ratios for similar public companies to estimate an overall worth.
Bill Gates, the founder of Microsoft, took the second spot again this year in the global ranking, worth $61bn, while the so-called "Sage of Omaha" Warren Buffett, the head of Berkshire Hathaway, is third on the list, worth $44bn. The list has the same top three as last year.
rjones@thenational.ae
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
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QUALIFYING RESULTS
1. Max Verstappen, Netherlands, Red Bull Racing Honda, 1 minute, 35.246 seconds.
2. Valtteri Bottas, Finland, Mercedes, 1:35.271.
3. Lewis Hamilton, Great Britain, Mercedes, 1:35.332.
4. Lando Norris, Great Britain, McLaren Renault, 1:35.497.
5. Alexander Albon, Thailand, Red Bull Racing Honda, 1:35.571.
6. Carlos Sainz Jr, Spain, McLaren Renault, 1:35.815.
7. Daniil Kvyat, Russia, Scuderia Toro Rosso Honda, 1:35.963.
8. Lance Stroll, Canada, Racing Point BWT Mercedes, 1:36.046.
9. Charles Leclerc, Monaco, Ferrari, 1:36.065.
10. Pierre Gasly, France, Scuderia Toro Rosso Honda, 1:36.242.
Eliminated after second session
11. Esteban Ocon, France, Renault, 1:36.359.
12. Daniel Ricciardo, Australia, Renault, 1:36.406.
13. Sebastian Vettel, Germany, Ferrari, 1:36.631.
14. Antonio Giovinazzi, Italy, Alfa Romeo Racing Ferrari, 1:38.248.
Eliminated after first session
15. Antonio Giovinazzi, Italy, Alfa Romeo Racing Ferrari, 1:37.075.
16. Kimi Raikkonen, Finland, Alfa Romeo Racing Ferrari, 1:37.555.
17. Kevin Magnussen, Denmark, Haas Ferrari, 1:37.863.
18. George Russell, Great Britain, Williams Mercedes, 1:38.045.
19. Pietro Fittipaldi, Brazil, Haas Ferrari, 1:38.173.
20. Nicholas Latifi, Canada, Williams Mercedes, 1:38.443.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
COMPANY%20PROFILE
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The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Avatar%20(2009)
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Company profile
Name: Oulo.com
Founder: Kamal Nazha
Based: Dubai
Founded: 2020
Number of employees: 5
Sector: Technology
Funding: $450,000
%3Cp%3EThe%20Department%20of%20Culture%20and%20Tourism%20-%20Abu%20Dhabi%E2%80%99s%20Arabic%20Language%20Centre%20will%20mark%20International%20Women%E2%80%99s%20Day%20at%20the%20Bologna%20Children's%20Book%20Fair%20with%20the%20Abu%20Dhabi%20Translation%20Conference.%20Prolific%20Emirati%20author%20Noora%20Al%20Shammari%2C%20who%20has%20written%20eight%20books%20that%20%20feature%20in%20the%20Ministry%20of%20Education's%20curriculum%2C%20will%20appear%20in%20a%20session%20on%20Wednesday%20to%20discuss%20the%20challenges%20women%20face%20in%20getting%20their%20works%20translated.%3C%2Fp%3E%0A
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Griselda
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A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
