Source of Wealth:Al-Ghurair Group
Full Name:Saif Ahmad Al Ghurair
Nationality:United Arab Emirates
Occupation:Former Chairman and CEO of Al-Ghurair Group
About Saif Ahmad Al Ghurair
Saif Al Ghurair is the former Chairman and Chief Executive Officer of Al-Ghurair Group and he has an estimated net worth of $2.1 billion as of April 2016, according to Forbes. The Dubai-based company is the largest in real estate and manufacturing sectors in the United Arab Emirates. His earnings from the firm make him the fourth richest person in UAE and 1031st in the list of World Billionaires.
Saif Ahmad Al Ghurair is one of the members of the old Dubai merchant family whose business interests include banking, malls and manufacturing. He currently holds major stakes in Mashreq, a leading Emirati bank run by his nephew, Abdul Aziz Al Ghurair. In November 2011, he sold his stake in the steel company to Nippon Steel.
All of Al Ghurair’s sons hold various positions within the group. Abdulrahman is the chairman while Majid is the chief executive officer who has been listed on the Young Global Leaders – Business List. Other family members are also involved in the business. His billionaire brother, Abdulla, owns and leads different business unties of the group.
Saif Al Ghurair is a member of the Dubai Executive Council and a member of the board of Dubai Chamber of Commerce and Industry’s Economic Board.