Company: Petrochem ME
Wealth: 525 Million
It has been a stunning rise for Yogesh Mehta. Arriving in the UAE 20 years ago with little to his name but holding a dream, he courageously launched the petrochemicals business Petrochem. Established as a partnership with Petrochem UK, the company has grown exponentially and is now arguably the largest chemicals distributor in the Middle East and the 14th in the world.
Petrochem’s terminal in Dubai’s Jebel Ali Free Zone handles more than 180 variants of chemicals, exporting more than 700,000 metric tons of products all over the globe, while its state-of-the-art storage terminal for bulk and drum chemicals is one of the world’s largest.
While Mehta’s personal wealth has fallen in recent years, he made headlines in November after paying a reported $20m for the three-day wedding of his son Rohan. The extravagant event was held in Florence and reportedly featured a succession of musical and dance acts, a lavish party at an historic venue and a ceremony in All Saints Square.
Mehta’s public profile also shot up after being selected as a judge on ‘The Entrepreneur’ talent show in 2012.