GCC's 50 richest Indians worth $40.2bn

The GCC’s 50 Richest Indians are worth $40.2bn, according to the first ever GCC Indian Rich List published today by Arabian Business. 

Landmark Group founder Micky Jagtiani  – who once worked as a London cab driver – topped the list with an estimated wealth of $4.5bn. Jagtiani took pole position of food magnate  Feroz Allana on $4.3bn, with legendary Dubai-based investor Ragu Kataria third on $2.5bn. The top five was completed with EMKE Group’s Yussuf Ali on $2.2bn, and BR Shetty on $1.9bn.

The list featured a total of ten billionaires, with the top 50 between them worth $40.2bn. The average wealth of the top 50 came in at $804m.

Arabian Business editor Ed Attwood said: “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.”

The highest ranked woman on the list was Jumbo Electronics boss Vidya Chhabria, in eighth place with $1.4bn.  Propping up the top 50 was Hassan Chougle with $195m.