Abdulla Al Futtaim
Dubai, United Arab Emirates
United Arab Emirates
auto dealers, investments
$2,500,000,000
916
#916 Billionaires 2019
Abdulla Al Futtaim owns conglomerate Al Futtaim Group, run by his son Omar, who is vice chairman.In 1955, the group became the exclusive distributor in the U.A.E. of Toyota, which has the leading share of the auto market with nearly 30%.Al Futtaim also has the license to operate Hertz, Ikea, Toys "R" Us and Zara in the U.A.E.The retailers anchor its malls, which include Dubai Festival City and Cairo Festival City.His cousin Majid Al Futtaim is also a billionaire.
In 2017, the group acquired 27 Marks & Spencer stores in Hong Kong and Macau, bringing the total M&S stores it operates to 73 in Asia and the Middle East.In 2010, Al Futtaim reportedly bought the yacht of the late Russian oligarch Boris Berezovsky.
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