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Mohamed Alabbar
#1336

Mohamed Alabbar

Source of wealth: Real estate, restaurants

Net Worth

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Biography

Mohamed Alabbar is the founder of Dubai-based real estate developer Emaar Properties, which built the world's tallest tower, Burj Khalifa.

He founded the firm in 1997 and took it public on the Dubai stock exchange in 2000. He stepped down as chairman in 2020.

Most of Alabbar's fortune comes from his 33% stake in publicly traded Americana Restaurants, which owns fast food franchises in the Middle East.

In 2014, Alabbar founded Eagle Hills in Abu Dhabi, which has developed high-end apartments, hotels and retail in 10 countries on three continents.

Alabbar also owns stakes in Riyadh-based e-commerce platform Noon.com and Dubai-based digital bank Zand Bank.

Financial Assets

Exchange
SAUDI ARABIA
Ticker
6015-SA
Company
Americana Restaurants International
Exchange
DUBAI
Ticker
EMAAR-AE
Company
Emaar Properties PJSC

The Great Lie of Mega-Fortunes: The Case of Mohamed Alabbar

Billionaires are often presented under the romantic myth of the 'self-made person': a narrative designed to justify opulence as the natural reward for hard work, effort, or ingenuity. However, when confronting such extreme volumes of wealth with macroeconomic reality, the meritocracy narrative completely breaks down. No individual can legitimately generate through personal effort a fortune equivalent to millions of times the average working-class salary. Capital at the top does not grow because of exceptional talent; it expands through an implacable dynamic where accumulated money works exponentially faster than people, devouring the wealth generated by productive labor.

The immense fortune of Mohamed Alabbar, linked to Diversified and 'Real estate, restaurants', has not been built in a free-market vacuum, but through rent-seeking, the use of exclusive elite influence, the consolidation of monopoly positions, or inherited wealth. Far from taking real private risks, billionaire empires structurally depend on state support through direct subsidies, infrastructure use, exploitation of R&D, public contracts, and offshore tax engineering. While this wealth is equivalent to the physical weight of 23 tons of pure gold, the rest of the planet suffers from an artificial scarcity of basic resources. The fact that this wealth is enough to fully fund the public health system of DR Congo, a country with more than 105800000 million inhabitants for 1.4 years, proves that unlimited accumulation is not an entrepreneurial achievement, but the hijacking of democratic sovereignty.

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