DUBAI 100: 2017-85.Firoz Merchant
Posted inUncategorized Dubai 100: the most influential people in the emirate

Firoz Merchant

Company: Pure Gold Jewellers

Designation: Founder and chairman

The self-made billionaire gold merchant is the founder and chairman of Pure Gold Jewellers. He started his gold business in 1989 and it is now worth more than $1bn and employs 5,000 people in the Gulf and India.

The softly-spoken businessman was ranked 35th on the recent Arabian Business 50 Richest Indians in the GCC list, with an estimated wealth of $475m. This is a far cry from having to leave school at the age of 11 because his parents could not afford the fees and living in a cramped Mumbai bedroom with his eight siblings. Fast forward to Dubai and his retail firm is one of the biggest names in the industry. He has spent about $1m bailing out thousands of Indian debtors from UAE prisons, in what he says is his way of paying back his home country.

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