Jagtiani tops list of Gulf’s richest Indians
Indian retail king Micky Jagtiani has topped a list of the Gulf’s richest Indians, as the country celebrates its Independence Day.A new wealth survey by Arabian Business places Jagtiani on $2.65 billion, nearly $1 billion ahead of second placed BR Shetty, founder of the NMC Group.
Jagtiania’s Landmark Group is now one of the Gulf’s biggest retail empires, with 900 stores in 15 countries. Its operations turnover $3.2 billion per year, employing 31,000 staff. The company was launched in Bahrain in 1973 with just a single store.
In third place, in the list of the GCC’s richest Indians, are Jumbo Group founders the Chhabria family, with an estimated wealth of $1.45 billion. Lulu Hypermarkets boss Yusuff Ali and Omani based PNC Melon are the other two billionaires on the list.
posted by 2dmax @ 9:00 AM
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