UAE food magnate tops GCC rich list
Manama, February 20, 2014
UAE-based food magnate Feroz Allana, director at IFFCO, has topped the GCC Indian Rich List for 2014 with a fortune of $4.4 billion, a report said.
Dubai-based investor Raghuvinder Kataria, with an estimated wealth of $2.8 billion has claimed the second place on Arabian Business, according to the report in the Gulf Daily News, our sister publication.
EMKE Group managing director Yusuffali MA, with $2.6 billion, has been listed third. Altogether, nine billionaires make the list, with the combined wealth of the 50 richest Indians based in the Gulf valued at $40 billion.
Rounding out the top five are Ravi Pillai, the founder of Bahrain-based RP Group, who is on $2.15 billion, while Abu Dhabi-based healthcare magnate BR Shetty has $2 billion.
"The vast majority of the names on our list are self-made men and women, which shows not only the strength of the Indian community's entrepreneurial spirit, but also of the opportunities afforded to them by the region they have chosen to call home," said Arabian Business editor Ed Attood.
The average wealth of the top 50 comes to $800 million. Propping up the list is Ashok Uttamchandi, who is estimated to have a net worth of $210 million. – TradeArabia News Service