Source of Wealth:Diversified, Inherited
Birth Place:Dubai, United Arab Emirates
Nationality:United Arab Emirates
Occupation:Founder, President and Chairman of the Mashreq Bank PSC
Education:Stanford University (MBA)
Abdullah bin Ahmad Al Ghurair is the Founder, President and Chairman of the Mashreq Bank PSC who has an estimated net worth of $4.8 billion as of April 2016, according to Forbes. He is also the second richest person in the United Arab Emirates and 437th the list of World Billionaires.
Al Ghurair has earned his estimated net worth of $7 billion when he founded in 1967 the leading bank in UAE today. Though the bank has been hurt by the bad real estate loans during the recession, it has lessened its lending to balance their sheet. It had a reported 28% increase in net profits for the first nine months of 2012.
Mashreq is under The Al Ghurair Group which controls the family’s wealth and takes charge of the undertakings in the business world. It owns a conglomerate with investment interests in food, retails and construction industries. It was divided into two industrial groups in the 1990s. The Saif Ahmad Al Ghurair Group is owned and managed by Saif Ahmad while the Abdullah Al Ghurair Group is owned and led by Abdullah bin Ahmad. His son, Abdul Aziz, is the CEO while his other son, Sultan, a member of the board.
Al Ghurair holds an MBA from Stanford University. He also ran Hewlett-Packard’s business division in the Middle East.