Family capital / United Arab Emirates
Al Ghurair family
The Al Ghurair family's business traces to Ahmad Al Ghurair, a Dubai pearl diver and trader in the early 20th century. As the pearling economy declined and Dubai's trade grew, Ahmad and his son Saif expanded the family's commercial interests, formally founding Al Ghurair Group in 1960 and later handing management to Ahmad's five sons.
How the fortune was built
Al Ghurair Group became a diversification pioneer in the UAE, building the country's first flour mill, cement factory, and sugar refinery. In 1967 the family founded what became Mashreq Bank, one of the UAE's leading privately owned banks, and the group's construction arm later contributed to landmark projects including the Dubai Metro and cladding work on the Burj Khalifa.
Where the family invests today
The family's holdings run through Al Ghurair Investment, its single-family office, including significant minority stakes in Dubai-listed Mashreq Bank and National Cement Company. Recent diversification spans electric vehicles (Chery-brand distribution, a 2025 Saudi partnership with Dongfeng), super-prime real estate, and renewable energy through a solar partnership — alongside a 2025 packaging-unit sale, suggesting active portfolio realignment rather than pure buy-and-hold.
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