Arab Press

بالشعب و للشعب
Wednesday, Sep 17, 2025

Prominent Emirati businessman Majid Al Futtaim dies

Prominent Emirati businessman Majid Al Futtaim dies

Dubai ruler hails Majid Al Futtaim as one of the sheikhdom’s ‘most important merchants’.

Emirati billionaire Majid Al Futtaim, who rose from working as a bank clerk to creating an eponymous business empire, has died.

Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum announced Al Futtaim’s death in a post on Twitter on Friday, praising him as one of the sheikhdom’s “most important merchants.”

“May God have mercy on our brother Majid Al Futtaim, the creative businessman, and one of Dubai’s most important merchants and senior men,” wrote Al Maktoum.

“His last decision was to hire 3,000 citizens. May God have mercy on him and place him in his spacious gardens,” he added.

Neither the cause behind his death nor his age were announced.

However, prayers for him and his family had circulated on social media in recent days.

Majid Al Futtaim’s business empire also acknowledged his death online, but did not respond to queries from The Associated Press.

“Majid Al Futtaim was a visionary entrepreneur who transformed the face of business in the entire region and his lifetime achievements have been an inspiration for many,” the company wrote on Twitter. “Our sincere thoughts and prayers are with Mr. Majid’s family and loved ones during this difficult time.”

The Al Futtaim family’s business empire dates back to the 1930s, when Dubai remained a small pearling village before the discovery of oil in what would become the United Arab Emirates. Al Futtaim was a family trading company allied with the city-state’s ruling Al Maktoum family.

Over the decades, it became a trusted partner with foreign brands seeking business, such as Toyota in 1955. Other car manufacturers followed, as did retail brands.

But a bitter family feud between Majid Al Futtaim and his cousin, Abdullah, required Sheikh Mohammed to step in to resolve it in the early 2000s. Al Futtaim run by Abdullah ended up taking the car side of the business and some retail brands.

Majid Al Futtaim Holding, founded in 1992, was Majid’s business vehicle after the split. With it, he became a retail powerhouse in the Middle East and beyond after working as a clerk at the Bank of Oman, which later became Mashreq Bank.

The firm became a franchisee of the French hypermarket chain Carrefour. It now runs over 300 Carrefour-branded supermarkets and hypermarkets across Africa, Asia and the Middle East.

Alexandre Bompard, the chairman and CEO of the Carrefour Group in France, called Al Futtaim’s death “very sad news” for the grocery giant as he had been an “exceptional partner.”

“We will pursue our common vision of trade,” he wrote on Twitter.

Al Futtaim built the city’s first major mall destination at City Center Deira. Today, Dubai is known as a major shopping destination in part due to his firm’s expansions.

Al Futtaim’s showpiece mall, the Mall of the Emirates, is a major attraction in Dubai and is home to the indoor ski slope. It also invested in hotels and movie theaters.

Forbes estimates Al Futtaim’s net worth as over $4 billion. Bloomberg puts his worth at over $6 billion.

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Kuwait opens bidding for construction of three cities to ease housing crunch.
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
Could AI Nursing Robots Help Healthcare Staffing Shortages?
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Tether Expands into Gold Sector with Profit-Driven Diversification
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
×