Ten billionaires in Gulf Indians rich list: Survey

Business

oi-Sunil

By Sunil Fernandes

Updated: Monday, February 11, 2013, 16:24 [IST]

The Gulf Cooperation Council (GCC) countries have 10 Indian billionaires, according to a new survey.

According to the first-ever GCC Indian Rich List published by financial weekly magazine ‘Arabian Business', Landmark Group founder Micky Jagtiani - who once worked as a London cab driver - topped the list with an estimated wealth of $4.5 billion.

The top 50 between them are worth $40.2 billion, with their average wealth at $1.57 billion.

Jagtiani was ahead of food magnate Feroz Allana at $4.3 billion, with legendary Dubai-based investor Ragu Kataria placed third on $2.5 billion.

The top five included EMKE Group's Yussuf Ali on $2.2 billion and BR Shetty on $1.9 billion. The highest ranked woman on the list was Jumbo Electronics boss Vidya Chhabria occupied the eighth place with a wealth of $1.4 billion.

"The contribution and success of the Indian community in this region is nothing short of remarkable, and our list fully reflects that. What is fascinating is many people on the list - such as Micky Jagtiani and Yussuf Ali - are self made, starting with absolutely nothing. Their stories are an inspiration to all of us," Arabian Business Editor Ed Attwood said.

PTI