Majid Al Futtaim

Majid Al Futtaim
ماجد الفطيم
Born
Majid Al Futtaim

1934 (1934)
Died17 December 2021(2021-12-17) (aged 86–87)
NationalityEmirati
Occupation(s)Founder and owner, Majid Al Futtaim Group
ChildrenTariq Al Futtaim[1]
RelativesAbdulla Al Futtaim (cousin)
Websitewww.majidalfuttaim.com/en

Majid Al Futtaim (1934 – 17 December 2021) was an Emirati billionaire businessman, and the founder and owner of the Majid Al Futtaim Group, an Emirati real estate and retail conglomerate, with projects in Asia and Africa.

Early life

Majid Al Futtaim was the cousin of fellow billionaire Abdulla Al Futtaim, the head of the Al-Futtaim Group, from whom he later became estranged.[2]

Majid Al Futtaim with Sheikh Rashid bin Saeed

The Majid Al-Futtaim Group currently spans 20 international markets and employs over 45,000 people.[3]

Career

He was the founder and owner of the Majid Al Futtaim Group, which he began in 1992 after splitting the Al Futtaim empire with his cousin.[4]

According to Forbes, Al Futtaim's net worth was US$4 billion, in September 2021.[2][5]

Notable buildings

His company's most notable properties include the Mall of the Emirates, complete with an indoor ski slope, and the Mall of Egypt that opened in March 2017.[6]

Personal life and death

Al Futtaim owned the yacht Quattroelle, built by Lürssen in 2013 for Michael Lee-Chin, who sold it in 2014. It has a crew of 29.[7]

He was married and lived in Dubai.[2] Al Futtaim died in Dubai on 17 December 2021.[8] His son Tariq Al Futtaim currently serves on the board of the Majid Al Futtaim Group.[2]

References

  1. ^ Kerr, Simeon (13 February 2022). "Dubai ruler steps in over retail empire's inheritance dispute".
  2. ^ a b c d "Forbes profile: Majid Al Futtaim". Forbes. Retrieved 9 March 2019.
  3. ^ "Company Website". Archived from the original on 19 January 2017. Retrieved 9 January 2017.
  4. ^ "Majid Al Futtaim". Bloomberg. Retrieved 19 February 2015.
  5. ^ Neuhof, Florian. "Majid Al Futtaim, with $3.6bn, named richest UAE businessman", 'The National', 15 April 2013. Accessed 28 October 2015.
  6. ^ "Majid Al Futtaim & family". Forbes.
  7. ^ "Motor Yacht Quattroelle". Superyachtfan. Retrieved 21 January 2015.
  8. ^ Al Amir, Khitam (17 December 2021). "UAE businessman Majid Al Futtaim passes away". Gulf News. Retrieved 17 December 2021.