The recently published Forbes 2012 Billionaire’s List has 7 UAE residents, includng 3 Indians namely, Micky Jagtiani of Landmark Group, Yusuf Ali of Lulu Group, and Joy Alukkas of the Alukkas Group.
Ranked #329 globally and #17 in India, Micky Jagtiani has an estimated wealth of $4 billion.
“Jagtiani controls $4.7 billion (sales) Landmark Group, a Middle East retailing empire with 1,300 stores in 18 countries. It’s partnered with French retailer Auchan for a hypermarket venture in India where it also operates the franchise for doughnut chain Krispy Kreme in India; it plans to open 80 stores in the next five years. He’s expanded into healthcare, opening iCARE, a primary healthcare clinic in Dubai,” Forbes said.
Yusuff Ali ranked #974 on the list has an estimated Net Worth of $1.5 billion.
“Ali heads the Abu Dhabi-headquartered LuLu Group whose flagship is the $4.25 billion (sales) LuLu retail chain, recently ranked by Deloitte as one of the ten fastest growing retailers in the world. LuLu runs a string of hypermarkets, supermarkets and grocery stores in the Middle East, Africa and will soon launch its first mall in India,” the magazine said.
Joy Alukkas has an estimated fortune of $1 billion and is ranked #1342.
The magazine states: “Straight after high school, Alukkas headed to the Gulf in 1987 to open his family’s first overseas jewelry store. He later went off on his own, creating Joyalukkas, a jewelry retail chain that has $1.2 billion in sales from 85 stores in India and the Gulf. Its 58,000 square foot store in Chennai city is billed as the world’s biggest jewelry store. He’s set to open the Mall Of Joy, a one-stop shop for weddings in several Indian cities.”