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Arab billionaire businessman Majid Al Futtaim dies

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By Reuters

<div> <p><span class="caps">DUBAI</span> – Prominent <span class="caps">UAE</span> businessman Majid Al Futtaim, who founded retailing and entertainment giant <span class="caps">MAF</span>, has died, Dubai’s ruler said on Friday in a Twitter post paying tribute to one of the emirate’s pioneers “who gave back to the nation.”</p> <p>Al Futtaim, who was born in the 1930s according to local media, in 1992 established Majid Al Futtaim (<span class="caps">MAF</span>), a conglomerate that develops shopping malls across the Middle East and North Africa.</p> <p>He was ranked the third-richest Arab businessman by Forbes Magazine this year with a family fortune of $3.6 billion.</p> <p>“May God have mercy on our brother Majid Al Futtaim, a pioneering businessman and one of the most important in Dubai and among its greatest men who gave back to the nation,” Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum tweeted.</p> <p>He referenced <span class="caps">MAF</span>’s decision this year to hire 3,000 Emiratis over the next five years.</p> <p/> </div>