A billionaire from the United Arab Emirates (UAE), Khalaf Al Habtoor, expressed the view that true success extends far beyond being listed among the world's wealthiest individuals. He emphasized that the contribution of foundational business families who shaped the private sector of Dubai and the UAE cannot be measured solely by estimated net worth.
Khalaf Al Habtoor paid tribute to families such as Al Ghurair, Al Futtaim, Al Mulla, Juma Al Majid, Al Gurg, Al Rostamani, Al Masoud, Al Fahim, as well as Khalifa and Omair bin Yusuf. He named them among the pioneers who established enterprises long before Dubai and the UAE became global economic hubs.
According to Al Habtoor, these families 'created real businesses, accumulated experience and knowledge over generations, and played a fundamental role in shaping the private sector we see today.' For him, the legacy of these people offers a different perspective on business success that is not reducible to a place on a wealth list.
Furthermore, Al Habtoor criticized rankings that classify entrepreneurs based on their market capitalization, asserting that an entrepreneur's true value cannot be reduced to a number on a list. He noted that lists periodically appear ranking businessmen in the UAE and Dubai, sometimes by 'wealth,' sometimes by 'value' or company size.
He added that his own name sometimes appears in such lists, but he does not know the exact scientific or financial basis upon which they are built. Al Habtoor questioned the evaluation methodology, especially when it comes to owners of private companies whose financial statements are not publicly available.
He asked: 'How can one determine the wealth of a businessman who owns private companies whose books and accounts are inaccessible to the public?' He argued that the valuation of assets, liabilities, and personal investments cannot be accurately determined from outside any structure. 'Without this information, the figures remain, at best, estimates—not facts,' he concluded.
Al Habtoor also clarified that while the market value of publicly traded companies can be calculated, this should not automatically equate to the personal wealth of their chairmen or CEOs. He stated: 'I do not attach much importance to rankings like 'who is the richest?' or 'who is the largest?'.'
In conclusion, Al Habtoor believes that a businessman's value should be determined by what he has built, the longevity of his enterprises, the number of jobs created, and his contribution to the economy and society. He stressed: 'Estimated figures change, lists come and go, but history remembers who built,' adding that true achievement does not require ranking.