Who is Majid al Futtaim?
He is the founder of the Majid Al Futtaim Group in Dubai. He was born in the 1930s. He is considered to be one of the richest men in the country. His brother Abdullah Al Futtaim heads the Al-Futtaim Group. They are reportedly estranged.
Majid Al Futtaim Group
The Al Futtaim Group is a Dubai-based conglomerate active in retail, automotive, technology, and real estate.
Al-Futtaim operates more than 65 companies and employs more than 20,000 people.
Al Futtaim Motors
Al-Futtaim Motors is the largest distributor of automobiles and automotive products in the United Arab Emirates.
Four out of every 10 cars on the UAE roads are from Al-Futtaim. Al-Futtaim has close to 150 retail outlets in the UAE alone, more than any other retail network and represents some of the world’s most popular retail brands including Marks & Spencer, IKEA, ACE, Toys ‘R’ Us, Ladybird, Danier, Intersport, and Judith Leiber.
Ikea in the UAE
Al-Futtaim holds the franchise rights for IKEA in Egypt, Oman, Qatar, and the United Arab Emirates.
Al Futtaim Net Worth
Forbes estimates the net worth of the Al Futtaim Family at US$ 4 billion. The Al Futtaim family is one of the richest in the UAE.