The Al Futtaim family is one of the richest and best-known families in the United Arab Emirates due to their exclusive ownership of the Majid Al Futtaim Group, one of the Middle East’s most successful conglomerates. The Group operates shopping malls, retail outlets and leisure establishments in the Middle East and North Africa. The family patriarch is well-known industrialist Majid Al Futtaim, who is listed by Forbes as one of the 10 wealthiest men in the UAE with a current net worth of approximately $4.8 billion. He is the first cousin of Abdulla Al Futtaim, another Arab billionaire, with whom Majid Al Futtaim worked closely during the start of his career. Abdulla Al Futtaim built his wealth through the automotive, retail and real estate fields. The two cousins had a falling out and went their separate ways. Majid Al Futtaim is married and lives in Dubai with his wife and his son, Tariq Al Futtaim, who serves as Vice President of the Group and has been involved in the business from day one. He previously served as Chairman of the Majid Al Futtaim Charity Foundation, which focusses on the healthcare and education sectors. One of the family’s prised possessions is the yacht, Quattroelle, which is operated by a crew of 29 people.
