Abdulla Al Futtaim Net Worth is$1.7 Billion
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Abdulla Al Futtaim net worth: Abdulla Al Futtaim is an Arab businessman who has a net worth of $1.7 billion. Abdulla Al Futtaim was born to the family who founded and runs the huge conglomerate Al Futtaim Group. Abdulla Al Futtaim made most of his fortune in the automobile business sector of the group which sells Toyota, Lexus, Honda, Dodge, Volvo, Jeep and Chrysler among other brand names. Thus, he easily earned the title 'king of the road,' but in addition to the automobile sector Abdullah's interests include retail and real estate. It was in 2000, when the family split its business interests with Abdullah Al Futtaim acquiring the automotive and mainly retail business, and his brother Majid taking over the property development business, known as Majid Al Futtaim Group. The Al Futtaim conglomerate has spent more than $2bn to build Dubai's Festival City, whose opening has been delayed several times because of the turmoil in Egypt. However, the property's mall, which includes hotels, offices, homes, retail outlets and a golf course, is due to open in the summer of 2013. Another big real estate project that the group is working on is Qatar's Doha Festival City, which is expected to be completed by 2014.
The Al-Futtaim Group is a large conglomerate operating in the United Arab Emirates.
The group was founded in the 1930s and expanded rapidly in the 1940s and 1950s becoming an integrated commercial, industrial, and services organisation.
The Al-Futtaim family split its business interests in 2000 with Abdulla Al Futtaim controlling the automotive and mainly retail business, and his cousin Majid controlling a property development business (now known as Majid Al Futtaim Group).
Al-Futtaim Group employs over 30,000 people and operates eight divisions comprising automotive, electronics, insurance, services, real estate, retail, industries, and overseas. The Chairman is Abdulla Al Futtaim who reportedly has close connections with the Ruler of Dubai, Prime Minister and Vice President of the United Arab Emirates (UAE) Sheikh Mohammed bin Rashid Al Maktoum. Sheik Maktoum mediated a settlement between Abdulla Al Futtaim and his rival, cousin Majid Al Futtain, in 2000 which split the assets, liabilities and operations of the then-larger Al Futtaim Group. Abdulla Al Futtaim is estimated by Forbes magazine to have a net worth of $1.6 billion as at March 2012 ranking him as the 804th richest person in the world, and third richest in the United Arab Emirates (UAE). Prior to the Global Financial Crisis Abdulla Al Futtain was worth nearly twice his current wealth. In 2007 Forbes ranked him as the 287th richest person in the world with a net worth of $3 billion and said his conglomerate was so large and profitable that it could account for 15% of Dubai's gross domestic product. The CEO of Al-Futtaim Group was Robert Willett until he suddenly resigned in January 2011. After that Omar Al-Futtaim became a Board Member, CEO & Vice Chairman

Abdulla Al Futtaim Latest News

12 from UAE in Forbes world's super rich list

Real estate tycoon Hussain Sajwani of Damac is the fifth top billionaire in the UAE followed in the sixth place by Abdulla Al Futtaim (549 globally), with his current wealth estimated at $3.1 billion. Ravi Pillai, with a net worth of $2.9 billion ...
Posted: March 2, 2016, 12:17 pm

The 8 Most Expensive Yacht Purchases Of All Time

Originally commissioned by Russian oligarch Boris Berezovsky, this 360-foot yacht was sold to Abdulla Al Futtaim, a billionaire car dealer from the United Arab Emirates. Radiant's amenities put a James Bond twist on the typical superyacht experience.
Posted: December 16, 2013, 9:27 am

Omar Abdulla Al-Futtaim

Mr. Omar Abdulla Al-Futtaim serves as Chief Executive Officer of Al-Futtaim Private Company LLC. Mr. Al-Futtaim served as the Chief Executive Officer of Al-Futtaim Private Company LLC. Mr. Al-Futtaim is a representative of Al-Futtaim Development Services ...
Posted: August 7, 2017, 8:15 pm

Dubai group signs Runda mall lease

This will mark the second major investment of the Dubai-based Al Futtaim family in Kenya following the purchase this year of motor dealer CMC Holdings by Abdulla Al Futtaim for Sh7.5 billion through his Al Futtaim Group. Majid Al Futtaim, who runs the ...
Posted: May 19, 2014, 1:08 pm

Al-Futtaim plans $1bn investment in overseas drive

The modern-day group was born from a family feud between Al-Futtaim relatives Abdullah and Majid, which prompted Dubai’s ruler to adjudicate a split in 2000. Abdullah took over Al-Futtaim Group, centred around the family’s lucrative auto-dominated ...
Posted: August 13, 2017, 5:53 am
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