Ajay Mankani understood from a young age that true wealth isn’t all about money and that financial circumstances do not define one’s potential. Instead, he learnt that true wealth involved building something meaningful and lasting.
As vice chairman and executive director of Fortes Education, these values have shaped Mr Mankani’s approach to life.
He has been instrumental in driving the growth and expansion of Fortes Education, including setting up Regent International School and Sunmarke School.
Mr Mankani, 55, also leads Fortes’ education technology business and integrates EdTech solutions into the curriculum.
“My background in engineering from the University of Pennsylvania, coupled with over 25 years of experience across various sectors like property development and technology, empowers me to lead and innovate in my field,” says the Indian resident, who was born and raised in the UAE.
Mr Mankani lives in Jumeirah Islands, Dubai, with his mother, wife and two children. He is passionate about collecting art, fitness and philanthropy.
Did wealth feature in your childhood?
Growing up, I was cognizant of wealth, largely because we didn’t have much of it. My family lived a modest life, and while we may not have had financial abundance, we were incredibly rich in values, love and support. My parents instilled in us the importance of a broad-based education and the notion that hard work could lead to personal achievement and success.
They encouraged their children to be ambitious, to dream big, and to believe that our circumstances did not define our potential. These values shaped my approach to life. I understood from a young age that true wealth wasn’t about money but about building something meaningful and lasting.
What did you learn from it?
The financial limitations of my early life taught me to work harder and to be tenacious in my pursuits, whether in academics or sports. I grew up to be highly competitive by nature and constantly raising the bar of my own potential.
Challenges were never “problems” – they were “opportunities” to be taken advantage of. I developed a mindset where obstacles were stepping stones, allowing me to innovate and seek solutions rather than be deterred by difficulty. This resilience and drive laid the foundation for my career.
I have always thought of myself as a humanities person. I love reading and writing. But I also like maths and numbers, which come to me quite easily. I found that I could make a real difference by standing at the intersection of the humanities and sciences and applying both – by building a career in education, property development and technology start-ups.
How did you first earn?
I earned my first pocket money at the age of 12 working at my father's construction sites during school holidays. This early experience taught me the dignity of labour and the importance of teamwork.
My first salaried job was as a project engineer in the same company, where I earned Dh3,000 ($816.88) per month.
Any early financial jolts?
My initial venture in entrepreneurship involved cross-border trade with the USSR which was seceding into sovereign independent republics in 1991. I set up base in the USSR, which was challenging and exhilarating at the same time.
Despite the early success, I faced significant challenges from a lack of rule of law, which eventually led me to close the business. The experience was financially and emotionally tough for a young 20-something, but through it, I learned invaluable life lessons about persistence and the need for long-term, strategic planning.
How do you grow your wealth?
I concentrate on industries where skilled human talent and innovation can thrive. My approach is to create businesses with substantial differentiation and brand equity, focusing on generating steady, compounded returns over time. I eschew short-term thinking ventures that promise rapid gains but come with significant risk.
Growing wealth, for me, is about taking calculated risks and aligning with my values of meaningful, long-lasting impact. Along with my partner and brother, I strive to lead a company that, while not the largest, stands out in its positive social impact on our stakeholders and society, its ability to grow sustainably, its deep human capital, and its technological advancement.
Are you a spender or a saver?
I would describe myself as an investor. I prioritise reinvesting in my organisation over personal spending. My primary responsibility is ensuring the company’s growth and stability, which means putting our resources into building capabilities and expanding strategically.
Additionally, I manage a family office that invests in public equities, private equity, venture capital and alternative investments, with the goal of generating sustainable, long-term, compounded returns.
Have you been wise with money?
Prudence and strategic foresight have guided my financial decisions, enabling me to achieve healthy, risk-adjusted returns.
I believe in the power of disciplined investment, the power of compounding over the long-term and thoughtful business development.
What has been your best investment?
My best investments have been in the education and development of my team and myself. These are investments that pay dividends beyond financial gain – they enrich lives and drive positive impact.
On a personal level, continual learning and upskilling have been invaluable, keeping me competitive, informed, able to adapt and inspired in my career and life.
Any cherished purchases?
My most cherished investments are time spent with my family and in developing the well-being and growth of my colleagues who I work with and employ.
Apart from these, I maintain a simple lifestyle and have few personal material desires.
How do you feel about money?
I view money as a tool to further my goals and as a by-product of impactful work. It enables my purpose, supporting efforts to improve lives through education and services.
Any financial advice for your younger self?
Trust your instincts. Just because others say something can’t be done doesn’t mean it’s true. The path less travelled is often where you find the most rewarding opportunities.
I would tell my younger self to embrace failure as part of the journey and to be unafraid of standing alone in a unique direction.
What are your financial goals?
My financial goals extend beyond mere numbers; they are about creating a lasting impact through our services and positively influencing the lives of those we serve and employ.
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
Terminator: Dark Fate
Director: Tim Miller
Starring: Arnold Schwarzenegger, Linda Hamilton, Mackenzie Davis
Rating: 3/5
Company%20profile
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
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In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
Opening Rugby Championship fixtures:Games can be watched on OSN Sports
Saturday: Australia v New Zealand, Sydney, 1pm (UAE)
Sunday: South Africa v Argentina, Port Elizabeth, 11pm (UAE)
'Midnights'
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What are the influencer academy modules?
- Mastery of audio-visual content creation.
- Cinematography, shots and movement.
- All aspects of post-production.
- Emerging technologies and VFX with AI and CGI.
- Understanding of marketing objectives and audience engagement.
- Tourism industry knowledge.
- Professional ethics.
Killing of Qassem Suleimani
Company profile
Name: Thndr
Started: October 2020
Founders: Ahmad Hammouda and Seif Amr
Based: Cairo, Egypt
Sector: FinTech
Initial investment: pre-seed of $800,000
Funding stage: series A; $20 million
Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC, Rabacap and MSA Capital
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
Bio
Born in Dibba, Sharjah in 1972.
He is the eldest among 11 brothers and sisters.
He was educated in Sharjah schools and is a graduate of UAE University in Al Ain.
He has written poetry for 30 years and has had work published in local newspapers.
He likes all kinds of adventure movies that relate to his work.
His dream is a safe and preserved environment for all humankind.
His favourite book is The Quran, and 'Maze of Innovation and Creativity', written by his brother.
UAE currency: the story behind the money in your pockets
Company profile
Date started: January, 2014
Founders: Mike Dawson, Varuna Singh, and Benita Rowe
Based: Dubai
Sector: Education technology
Size: Five employees
Investment: $100,000 from the ExpoLive Innovation Grant programme in 2018 and an initial $30,000 pre-seed investment from the Turn8 Accelerator in 2014. Most of the projects are government funded.
Partners/incubators: Turn8 Accelerator; In5 Innovation Centre; Expo Live Innovation Impact Grant Programme; Dubai Future Accelerators; FHI 360; VSO and Consult and Coach for a Cause (C3)
The bio
Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.
Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.
Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.
Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Emirates exiles
Will Wilson is not the first player to have attained high-class representative honours after first learning to play rugby on the playing fields of UAE.
Jonny Macdonald
Abu Dhabi-born and raised, the current Jebel Ali Dragons assistant coach was selected to play for Scotland at the Hong Kong Sevens in 2011.
Jordan Onojaife
Having started rugby by chance when the Jumeirah College team were short of players, he later won the World Under 20 Championship with England.
Devante Onojaife
Followed older brother Jordan into England age-group rugby, as well as the pro game at Northampton Saints, but recently switched allegiance to Scotland.
UAE currency: the story behind the money in your pockets
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Indoor cricket in a nutshell
Indoor Cricket World Cup - Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Killing of Qassem Suleimani
A list of the animal rescue organisations in the UAE
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
UAE currency: the story behind the money in your pockets
