B R Shetty Among Top Five billionaires in Gulf Indians rich list

Dubai, 11 Feb 2013, (PTI): The Gulf Cooperation Council (GCC) countries have 10 Indian billionaires, according to a new survey.

 

According to the first-ever GCC Indian Rich List published by financial weekly magazine ’Arabian Business’, Landmark Group founder Micky Jagtiani – who once worked as a London cab driver – topped the list with an estimated wealth of USD 4.5 billion.

 

The top 50 between them are worth USD 40.2 billion, with their average wealth at USD 1.57 billion.

 

Jagtiani was ahead of food magnate Feroz Allana at USD 4.3 billion, with legendary Dubai-based investor Ragu Kataria placed third on USD 2.5 billion.

 

 

The top five included EMKE Group’s Yussuf Ali on USD 2.2 billion and BR Shetty on USD 1.9 billion. The highest ranked woman on the list was Jumbo Electronics boss Vidya Chhabria occupied the eighth place with a wealth of USD 1.4 billion.

 

"The contribution and success of the Indian community in this region is nothing short of remarkable, and our list fully reflects that. What is fascinating is many people on the list - such as Micky Jagtiani and Yussuf Ali - are self made, starting with absolutely nothing. Their stories are an inspiration to all of us," Arabian Business Editor Ed Attwood said.