Saif Ahmad Al Ghurair

Saif Ahmad Al Ghurair (1924 – August 27, 2019) was a prominent Emirati businessman and billionaire, best known as the founder and CEO of the Dubai-based Al Ghurair Group, a diversified conglomerate with significant interests in banking, real estate, manufacturing, and retail.

Born on the shores of Dubai Creek, he was the eldest of five sons in the Al Ghurair family, which was traditionally involved in pearl diving and trade. His early life included challenging experiences such as a perilous sea voyage in the 1930s that resulted in blindness in one eye.

In 1960, he established the Al Ghurair Group, which played a pivotal role in shaping Dubai's economic landscape through its ventures in industries like steel, packaging, and plastics, as well as real estate development including shopping malls and luxury service residences. He was a significant shareholder in Mashreq Bank, one of the UAE’s leading financial institutions.

Under his leadership, the company created Taghleef Industries in 2006 through a merger, becoming one of the world’s largest producers of polypropylene films and food packaging materials.

Beyond his business achievements, he served key roles such as the presidency of the Dubai Chamber of Commerce and Industry and the Federation of Chambers of Commerce and Industry in the UAE. He was also a member of the Dubai Municipality councils and contributed actively to the executive governance of Dubai.

With his vast business acumen, he was one of the richest and most influential figures in the UAE, with his net worth estimated at around $3.4 billion in 2015. He passed away in Dubai in 2019 at the age of 95.