Bloomberg Billionaires Index

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#302 Micky Jagtiani $5.74B

Random fact: Cleaned hotel rooms and drove taxis after dropping out of college.


Jagtiani is the chairman of Landmark Group, a Dubai-based retailer with more than 2,200 outlets across 21 countries. The closely held company manages its own brands and has franchise rights for international names, including shoe designer Steve Madden and health club Fitness First. He also has a stake in retailer Debenhams.

As of April 26, 2018:
Last change +$27.7M (+0.5%)
YTD change +$459M (+8.7%)
Industry Retail
Biggest asset Landmark Group
Citizenship India
Age 66
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Micky Jagtiani's net worth of $5.74B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

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Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Jagtiani's wealth is derived from closely held Dubai-based Landmark Group, a retail business he founded in 1973. The company has more than 2,200 outlets across 21 countries, according to its website. 

Jagtiani owns 95 percent stake, according to company representatives in 2015. 

Landmark had annual revenue of $5 billion, according to an April 2015 Outlook Business article. Revenue for 2016 is calculated to be $5.7 billion based on the average sales growth rate of the peer group used in this analysis. 

The valuation is based on the average enterprise value-to-sales and enterprise value-to-Ebitda of four publicly traded peer companies: Foschini Group, Massmart Holdings, Woolworths Holdings and Associated British Foods. 

The billionaire also owns 7 percent of Debenhams, a London-based clothing retailer, according to its 2016 annual report.

Landmark's corporate communications office didn't respond to requests for comment on the billionaire's holdings and net worth calculation in November 2017.


Birthdate: 1951
Family: Married, 3 children

Jagtiani was born in 1951 to Indian immigrant parents in Kuwait. He went to school in Madras, Mumbai and Beirut before his father sent him to accounting school in London. He eventually dropped out of college and made money cleaning hotel rooms and working as a London taxi driver. Jagtiani returned to the Gulf in 1972, where his elder brother died from leukemia within months. His father, who suffered from diabetes, and his mother, who had cancer, died shortly after.

He used the $6,000 left to him by his family to start Landmark Group in Bahrain. His first store, Babyshop, sold baby products mostly to Indian and Pakistani immigrants in the Gulf. He did much of the work himself, as he could only afford to hire one employee. As business picked up, the company diversified into leisure, food, hotels and electronics. Jagtiani shifted the company’s headquarters to Dubai in 1990 to focus on middle-class shoppers. The conglomerate expanded to manage more than two dozen retail and hospitality brands, as well as 1,500 stores across its assets in the Middle East and India.

Jagtiani is married to Renuka Jagtiani, who helps to run Landmark as vice chairwoman. She started the group’s clothing concept called Splash, drives its India business and oversees corporate social responsibility initiatives. The Jagtianis have two daughters and a son. Nisha Jagtiani heads Landmark Group’s fashion lifestyle brand Iconic, while her sister, Aarti Jagtiani, works with Home Centre, which offers a range of furniture, home accessories and kitchenware. Their brother, Rahul Jagtiani, leads the marketing effort for iCARE Clinics, a healthcare venture from Landmark Group.

  • 1969 Goes to accounting school in London where he later drops out.
  • 1973 Founds Landmark Group in Bahrain with a baby products store.
  • 1990 Opens in Dubai the group's first Shoe Mart footwear store.
  • 1999 Enters India with the opening of Lifestyle department store.
  • 2000 Starts Life Trust to support children's education in India.
  • 2012 Partners Auchan to start hypermarket venture in India.
  • 2012 Makes foray into healthcare services with iCARE.
  • 2013 Ventures into sports retail with stores in Saudi Arabia.
  • 2015 Landmark Group suspends sales of Trump-branded products.
  • 2016 Landmark Group opens 19 stores at the new Mall of Qatar.