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

billionaire A billionaire is a person with a net worth of at least one billion (1,000,000,000, i.e., a thousand million) units of a given currency, usually of a major currency such as the United States dollar, euro, or pound sterling. The American busin ...

businessman, and the founder and owner of the

Majid Al Futtaim Group Majid Al Futtaim ( ar, ماجد الفطيم) is an Emirati holding company based in Dubai. As of 2015, it owned and operated shopping malls, retail, and leisure establishments in the Middle East and North Africa with operations in 13 coun ...

, 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, the head of the

Al-Futtaim Group The Al-Futtaim Group ( ar, مجموعة الفطيم, Majmouat al-Futtaim) is a large 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 ...

, from whom he later became estranged. MajidFuttaimSheikhRashid

The Al-Futtaim Group currently spans 15 international markets and employs over 33,000 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 owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...

'', 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 ( ar, مول الإمارات) 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 cur ...

, complete with an indoor

ski slope A ski is a narrow strip of semi-rigid material worn underfoot to glide over snow. Substantially longer than wide and characteristically employed in pairs, skis are attached to ski boots with ski bindings, with either a free, lockable, or parti ...

, and the

Mall of Egypt Mall of Egypt is the first shopping destination of its kind in Egypt. The mall is owned and managed by the Majid Al Futtaim Group, the leading pioneer in shopping malls, retail, and leisure across the Middle East and North Africa region. Mall of ...

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 Michael Lee-Chin, (born 3 January 1951) is a Jamaican-Canadian billionaire businessman, and philanthropist and the chairman and CEO of Portland Holdings Inc, a privately held investment company in Ontario, Canada. Lee-Chin was appointed to th ...

, who sold it in 2014. It has a crew of 29. He was married and lived in

Dubai Dubai (, ; ar, دبي, translit=Dubayy, , ) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the 7 emirates of the United Arab Emirates.The Government and Politics of ...

. 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