Emirati Billionaire Majid Al Futtaim Dies

Emirati billionaire Majid Al Futtaim died on Friday.

A cause for his death wasn’t immediately announced. However, prayers for him and his family had circulated on social media in recent days.

Al Futtaim founded Majid Al Futtaim Holding in 1992. Its expanded across the Mideast with malls and other ventures. It also runs over 300 Carrefour supermarkets and hypermarkets across Africa, Asia and the Middle East.

Its showpiece mall, the Mall of the Emirates, is a major attraction in Dubai and is home to the indoor ski slope.

Forbes estimated Al Futtaim’s net worth as over $4 billion.

Last week

Fitch affirmed Al Futtaim LLC at 'BBB'; with stable outlook.

https://twitter.com/HHShkMohd/status/1471826482775351299?s=20

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