Fortunes of the richest billionaires in the UAE decline as COVID-19 hits businesses
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Fortunes of the richest billionaires in the UAE decline as COVID-19 hits businesses

Billionaires in the UAE have seen their net worth fall as the coronavirus pandemic continues to take a devastating toll on many businesses worldwide.

According to the latest data from Forbes, which tracks the ups and downs of the richest people on earth on a daily basis, the country’s ultra-wealthy have posted declines in their fortunes ranging from $5 million to $48 million.

His net worth fell by $34 million or 0.90 percent to $3.7 billion on Wednesday compared to the previous trading day.

Majid Al Futtaim, who founded retail giant Majid Al Futtaim Holding, came second on Forbes’ Real-Time Billionaires list and is the only Emirati billionaire who hasn’t seen his $3.6 billion net worth slide.

The third-richest billionaire, property…

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