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Majid Al Futtaim Net Worth

Majid Al Futtaim Net Worth

Net Worth: $6.78 Billion

Statistics
  • Source of Wealth Real Estate, Business
  • Marital Status Married
  • Full Name Majid Al Futtaim
  • Nationality Emirati
  • Ethnicity Emirati
  • Occupation Real Estate Developer
  • Children None

About Majid Al Futtaim

Majid Al Futtaim is a real estate developer and billionaire, and the estranged brother of billionaire Abdulla Al Futtaim. He has an estimated net worth of $6.78 billion in July 2017, according to Bloomberg. Majid Al Futtaim is the owner of Majid Al Futtaim Holding that is run by non-family members. It operates malls and supermarkets across the Middle East, including 48 Carrefour hypermarkets. It has rebounded from a depressed real estate market and losses then raised his net worth by $2.5 billion. In 2012, its earnings before interest, taxes, depreciation and amortization, were up by 7% on revenues of nearly $6 billion. It is heavily invested in Egypt through its City Center Malls and Carrefour, and is not backing away from the country’s turmoil. It is expected to start construction in Cairo in the first quarter of 2013 on a Mall in Egypt. Additional malls are expected in 2014 and 2015. Recently, it also offered the billionaire Mansour brothers around $250 to $300 million to buy their supermarket chain, Metro. The group is currently conducting due diligence.