Mohamed Alabbar is a UAE billionaire. The businessman is known as the founder of Emaar Properties and the main investor in the construction of the Burj Khalifa skyscraper. No one doubts his enormous fortune, but the exact data is constantly disputed by Internet users. Someone relies on the annual income of his companies, some think that Alabbar paid for the construction of Burj Khalifa out of his own pocket, while others mistakenly think that he is the sole shareholder and beneficiary of Emaar Properties and Eagle Hills. This is how conjectures are born. We will tell you how much Emaar Owner earns, whether Burj Khalifa is in his net worth and what analysts predict.
Emaar Owner Income
Mohamed founded the property development company in 1997 when he was 41 years old. He does not own it. Emaar went public and is now owned by shareholders in proportion to the number of their shares. The global real estate giant is valued at between $8.5 billion and $15.5 billion. The annual net profit is about 800 million dollars. Working capital is much more than this amount.
Mohamed Alabbar, thanks to his leading role in the activities of Emaar Properties, can receive about $100 million a year. This is not an exact amount, which depends on the income of his company. In more stable periods, the salary could reach $ 200 million.
Mohamed has other sources of income as well. He is constantly looking for investment properties around the world. He does not invest personal money, but helps to organize financing from various sources. His offspring Eagle Hills could increase his net worth by $100 million annually.
How Much Did Mohamed Alabbar Make at Burj Khalifa?
The billionaire organized the construction of the tallest building in the world. It cost investors $1.5 billion. Presumably, they have already recouped their costs and started to make a profit. The building contains 900 luxury apartments, which were sold for a lot of money.
The exact share of Alabbar in this project is unknown, but he may receive several million dollars a year from it. Profit is formed due to the huge rental areas.
Mohamed Alabbar Net Worth
Mohamed is a very generous person. He invests personal money in charity and helps to find those who want to invest their capital in a good cause. A man helps the poor in Africa. He has invested more than $100 million in a project to help Israeli citizens who have been affected by the conflict with Palestine. This must be taken into account in order to understand what Mohamed Alabbar net worth really is.
The most adequately reflects the wealth of an entrepreneur from the Emirates is information about $ 5 billion of personal capital. This amount includes all savings for over 40 years of career, real estate and stocks.
How Did Mohamed Alabbar Become a Billionaire?
A man from a young age showed himself to be a talented banker and financier. He held quite high positions in the public sector. His abilities were highly appreciated by Sheikh Mohammed bin Rashid Al Maktoum. The ruler of Dubai played an important role in the prosperity of Alabbar. As an economic adviser to the sheikh, he earned millions of dollars.
Whether Mohamed was a billionaire at the time he founded Emaar Properties is not exactly known. However, the largest increase in his capital is associated with this company.
|Actual Net Worth||$5b|
|One Year Net Worth Forecast||$5.5b|