Since founding DM Healthcare in 1987, chairman Moopen has overseen the company’s expansion from a few small clinics to an empire of hospitals, medical centres and pharmacies across not only most of the GCC countries, but India too.

The Dubai-based firm is now one of the region’s largest private healthcare providers.

Under the corporate brand Aster, the group now employs more than 5,000 people and anticipated revenues of $500m for the 2012 financial year, about 30 percent to 40 percent growth compared to 2011. Moopen, who recently turned 60 years old, says that DM Healthcare is looking to expand aggressively not only in the immediate region, but possibly worldwide in the coming years.

This year, Arabian Business has been granted access to detailed statements from Dr Moopen’s company. As a result, our valuation of his worth is significantly higher than our estimate last year. His 57 percent stake in his company, which has an enterprise value of around $1.8bn, forms by far the biggest portion of his wealth.

He also has a 90 percent stake in an educational institute in India, as well as personal immovable assets of $50m.