Abdulla Al Futtaim Net Worth is$1.7 Billion
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Abdulla Al Futtaim net worth: Abdulla Al Futtaim is an Arab businessman who has a net worth of $1.7 billion. Abdulla Al Futtaim was born to the family who founded and runs the huge conglomerate Al Futtaim Group. Abdulla Al Futtaim made most of his fortune in the automobile business sector of the group which sells Toyota, Lexus, Honda, Dodge, Volvo, Jeep and Chrysler among other brand names. Thus, he easily earned the title 'king of the road,' but in addition to the automobile sector Abdullah's interests include retail and real estate. It was in 2000, when the family split its business interests with Abdullah Al Futtaim acquiring the automotive and mainly retail business, and his brother Majid taking over the property development business, known as Majid Al Futtaim Group. The Al Futtaim conglomerate has spent more than $2bn to build Dubai's Festival City, whose opening has been delayed several times because of the turmoil in Egypt. However, the property's mall, which includes hotels, offices, homes, retail outlets and a golf course, is due to open in the summer of 2013. Another big real estate project that the group is working on is Qatar's Doha Festival City, which is expected to be completed by 2014.
The Al-Futtaim Group is a large conglomerate operating in the United Arab Emirates.
The group was founded in the 1930s and expanded rapidly in the 1940s and 1950s becoming an integrated commercial, industrial, and services organisation.
The Al-Futtaim family split its business interests in 2000 with Abdulla Al Futtaim controlling the automotive and mainly retail business, and his cousin Majid controlling a property development business (now known as Majid Al Futtaim Group).
Al-Futtaim Group employs over 30,000 people and operates eight divisions comprising automotive, electronics, insurance, services, real estate, retail, industries, and overseas. The Chairman is Abdulla Al Futtaim who reportedly has close connections with the Ruler of Dubai, Prime Minister and Vice President of the United Arab Emirates (UAE) Sheikh Mohammed bin Rashid Al Maktoum. Sheik Maktoum mediated a settlement between Abdulla Al Futtaim and his rival, cousin Majid Al Futtain, in 2000 which split the assets, liabilities and operations of the then-larger Al Futtaim Group. Abdulla Al Futtaim is estimated by Forbes magazine to have a net worth of $1.6 billion as at March 2012 ranking him as the 804th richest person in the world, and third richest in the United Arab Emirates (UAE). Prior to the Global Financial Crisis Abdulla Al Futtain was worth nearly twice his current wealth. In 2007 Forbes ranked him as the 287th richest person in the world with a net worth of $3 billion and said his conglomerate was so large and profitable that it could account for 15% of Dubai's gross domestic product. The CEO of Al-Futtaim Group was Robert Willett until he suddenly resigned in January 2011. After that Omar Al-Futtaim became a Board Member, CEO & Vice Chairman

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Abdulla Al Futtaim Latest News

Abdullah Al Futtaim

Abdullah Al Futtaim can realistically lay claim to being ‘king of the road' in the Gulf - Toyota, Lexus, Honda, Dodge, Volvo, Jeep and Chrysler are among the brand names in the Al Futtaim stable. And having built his fortune in the automobile business in ...
Posted: May 14, 2018, 5:00 pm

Vox Cinemas opens the doors in all-new The Avenues

KUWAIT CITY, May 17: Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa, and Asia opens its first VOX Cinemas location at The Avenues in Kuwait. Located in the newly launched expansion (Grand ...
Posted: May 17, 2018, 10:55 pm

Prince Alwaleed remains richest Arab: Forbes

Prince Alwaleed bin Talal Al Saud ($18.7bn – Saudi Arabia); Majid Al Futtaim and family ($10.6bn – UAE); Mohammed Al Amoudi ($8.1bn – Saudi Arabia); Abdulla bin Ahmed Al Ghurair & family ($6.8bn – UAE); Nassef Sawiris ($5.6bn – Egypt); Suhail ...
Posted: April 13, 2017, 5:00 am
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