50 Richest Indians in the GCC
Sun 16 Feb 2014 05:26 AM
Firoz Merchant

Firoz Merchant

Industry: Retail

Company: Pure Gold

Designation: Chairman

Wealth: 435 Million

Firoz Merchant has come a long way from sharing a bedroom with eight siblings in Mumbai. Merchant moved to Dubai in 1989 to set up his own gold trading business, Pure Gold Jewellers. Today the chain has 85 stores across India and the Middle East as well as two jewellery manufacturing factories in India and in China, employing over 1,500 workers. But he is perhaps best known for his generosity to those in distress. Every year, he is planning to give away just under $1m of his hard-earned wealth bailing out prisoners who have found themselves in the UAE’s jails.