Majid Al Futtaim (1934 – 17 December 2021) was an Emirati

billionaire A billionaire is a person with a net worth of at least 1,000,000,000, one billion units of a given currency, usually of a major currency such as the United States dollar, euro, or pound sterling. It is a sub-category of the concept of the ultr ...

businessman, and the founder and owner of the

Majid Al Futtaim Group Majid Al Futtaim Holding () is an Emirati holding company based in Dubai. The family-owned conglomerate owns and operates shopping malls, retail, and hotel establishments in the Middle East and North Africa. The firm was established by M ...

, an Emirati real estate and retail conglomerate, with projects in Asia and Africa.

Early life

Majid Al Futtaim was the cousin of fellow billionaire

Abdulla Al Futtaim Abdulla Al Futtaim (Arabic: عبدالله الفطيم) is an Emirati businessman, billionaire, investor, philanthropist and owner of Al-Futtaim Group, and cousin of fellow billionaire Majid Al Futtaim. As of October 2021, his net worth was e ...

, the head of the

Al-Futtaim Group The Al-Futtaim Group () is an Emirati conglomerate (company), conglomerate based in Dubai, United Arab Emirates. History The group was founded in the 1930s and expanded rapidly in the 1940s and 1950s becoming an integrated commercial, industrial ...

, from whom he later became estranged. MajidFuttaimSheikhRashid

The Majid Al-Futtaim Group currently spans 20 international markets and employs over 45,000 people.

Career

He was the founder and owner of the

, which he began in 1992 after splitting the Al Futtaim empire with his cousin. According to ''

Forbes ''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...

'', Al Futtaim's net worth was US$4 billion, in September 2021.

Notable buildings

His company's most notable properties include the

Mall of the Emirates Mall of the Emirates () is a shopping mall in Dubai. Developed and owned by Majid Al Futtaim Group, it opened in November 2005 and is located at interchange four on Sheikh Zayed Road. The multi-level shopping mall currently features more than 630 ...

, complete with an indoor ski slope, and the

Mall of Egypt Mall commonly refers to a: * Shopping mall * Strip mall * Pedestrian zone * Esplanade Mall or MALL may also refer to: Places Shopping complexes * The Mall (Bromley), London, United Kingdom * The Mall (Patna), Bihar, India * The Mall (Sofia), or ...

that opened in March 2017.

Personal life and death

Al Futtaim owned the yacht ''Quattroelle'', built by

Lürssen Lürssen (or Lürssen Werft) is a German shipyard with headquarters in Bremen-Vegesack and shipbuilding facilities in Lemwerder, Berne and Bremen-Fähr-Lobbendorf. Lürssen designs and constructs yachts, naval ships and special vessels. Tradin ...

in 2013 for Michael Lee-Chin, who sold it in 2014. It has a crew of 29. He was married and lived in

Dubai Dubai (Help:IPA/English, /duːˈbaɪ/ Help:Pronunciation respelling key, ''doo-BYE''; Modern Standard Arabic, Modern Standard Arabic: ; Emirati Arabic, Emirati Arabic: , Romanization of Arabic, romanized: Help:IPA/English, /diˈbej/) is the Lis ...

. Al Futtaim died in Dubai on 17 December 2021. His son Tariq Al Futtaim currently serves on the board of the Majid Al Futtaim Group.

References

{{DEFAULTSORT:Futtaim, Majid Al 1934 births 2021 deaths Emirati billionaires Emirati businesspeople