Indian entrepreneurs have emerged as the largest group on Forbes Middle East’s latest list of the richest residents in the United Arab Emirates. The 2026 ranking features nine Indians, with their combined wealth estimated at $49.9 billion.
The report highlights 17 billionaires from five countries, together holding a total net worth of $212.6 billion. It also points to the UAE’s growing status as a global hub for wealthy investors and business leaders.
Among the top Indian names, M. A. Yusuff Ali ranks sixth with a net worth of $5.8 billion. He leads LuLu Group International, which operates 267 hypermarkets across the Gulf and generated close to $8 billion in revenue in 2025. Originally from Kerala, he moved to Abu Dhabi in 1973 and built LuLu into one of the region’s largest retail chains. The company was listed on the Abu Dhabi Securities Exchange in 2024, raising $1.7 billion. Beyond retail, he also invests in hospitality and aviation.
Renuka Jagtiani comes in at seventh place with $5.6 billion. She heads Landmark Group, a major retail network in the Middle East founded in Bahrain in 1973 by her late husband Micky Jagtiani. The group now runs more than 2,250 stores across 15 countries and earns over $7 billion annually. She oversees strategy and expansion, while her children are involved in operations.
Ravi Pillai is ranked eighth with $4.2 billion. After his early business setbacks in Kerala, he rebuilt his career in the Gulf and expanded RP Group into a major construction and engineering firm. He has also invested in India across hospitality, banking and real estate.
Sunny Varkey ranks ninth with a net worth of $4 billion. He founded GEMS Education, one of the world’s largest private school operators. His family moved to Dubai in 1959, and the group has since grown globally, receiving major investments from CVC Capital Partners and Brookfield-led funds.
Overall, the list reflects how Indian-origin entrepreneurs continue to play a major role in shaping business landscapes across the Gulf, especially in retail, construction and education.
