The Maldives, a tropical paradise best known for its turquoise waters and luxury tourism, is also home to a small but influential group of ultra-wealthy individuals whose fortunes shape the nation’s economic landscape. While the country does not feature prominently on global billionaire rankings, several local magnates command fortunes that rival international peers, particularly in industries like hospitality, shipping, real estate, and politics.
According to local financial assessments and regional business insights, the Maldives is believed to host at least two billionaires in USD terms and several more high-net-worth individuals whose influence extends beyond business into governance, development, and philanthropy. These elites have leveraged strategic investments in tourism, Maldives’ primary economic driver—alongside political influence and diversified portfolios to build substantial fortunes.
At the top of the list is Ilyas Ibrahim, a powerful political figure and businessman, with an estimated net worth of ~US $4 billion. Others such as Hussain Afeef and Maumoon Abdul Gayoom follow closely, supported by massive holdings in hospitality and family-linked ventures. This article profiles the top 10 richest individuals in the Maldives as of 2026, highlighting their industries, wealth sources, and business empires.
Popular 2026 Rich List Articles
Key Takeaways
Biography:
A long-time figure in Maldivian politics and business, Ilyas Ibrahim built his fortune through a combination of government positions and private sector ventures. As the brother-in-law of former President Maumoon Abdul Gayoom, his political ties have historically opened doors to lucrative business deals, particularly in infrastructure and tourism development. Ilyas was instrumental in facilitating some of the earliest high-end resort developments in the country. His current assets are widely believed to include premium beachfront real estate, shares in resort chains, and joint ventures with international investors. Though semi-retired, he remains a key power broker in the country’s financial landscape.
Age: 72
Residence: Malé, Maldives
Source of Wealth / Title: Co-founder of Crown Company
Net Worth: ~US $3.7 billion (~57 billion MVR)
Major Holdings: Crown Company, luxury resorts including Conrad Maldives, Veligandu Island Resort
Biography:
A true pioneer of Maldivian tourism, Hussain Afeef co-founded Crown Company, one of the nation’s most successful resort development groups. Starting in the 1980s, Afeef recognized the growing demand for private island luxury resorts. Under his leadership, Crown Company developed high-profile properties, attracting global brands like Conrad and providing employment to thousands. Afeef is also a mentor and investor in emerging hospitality ventures. He has earned numerous awards for his contributions to the country’s tourism industry and supports education and marine conservation through his philanthropic work.
Age: 87
Residence: Malé, Maldives
Source of Wealth / Title: Former President of the Maldives
Net Worth: >US $1 billion (~140 billion MVR)
Major Holdings: Family business interests in media, education, construction
Biography:
Maumoon Abdul Gayoom served as the President of Maldives for 30 years (1978–2008), making him one of the longest-serving leaders in Asia. His extended time in office allowed his family to build a network of influential businesses across various sectors. Although his personal net worth is difficult to isolate due to familial interconnections, Gayoom’s economic legacy is profound. He has been a silent partner in many of the country’s major private enterprises, including those in media and tourism. Despite his retirement from politics, his influence continues through relatives who remain active in both governance and commerce.
Age: 66
Residence: Malé, Maldives
Source of Wealth / Title: Former President (2013–2018)
Net Worth: ~US $2.7 billion (~41.6 billion MVR)
Major Holdings: Real estate, resort development, political networks
Biography:
A former president and the half-brother of Maumoon Abdul Gayoom, Abdulla Yameen leveraged both his political lineage and executive power to secure wealth through property development, tourism licensing, and international partnerships. Though his presidency ended amidst political controversy, his business operations remained intact. He is widely known to own or control several high-value beachfront assets, and his network has invested in hotel management, retail, and logistics. Despite facing periodic legal challenges, his business empire remains one of the largest in the nation.
Age: 60
Residence: Malé, Maldives
Source of Wealth / Title: Entrepreneur, Actor, Politician
Net Worth: ~US $2.1 billion (~32 billion MVR)
Major Holdings: Investments in entertainment, real estate, and media
Biography:
A former actor turned politician, Reeko Moosa Manik is one of the most colorful figures on this list. After gaining fame in Maldivian cinema, he entered politics and quickly rose to prominence. Over time, he diversified into business, investing in production houses, media outlets, and property development. His holdings include luxury apartments and commercial spaces in Malé and several islands. Reeko remains a cultural icon and is involved in initiatives promoting local art and youth entrepreneurship.
Age: 68
Residence: Malé, Maldives
Source of Wealth / Title: Businessman, Co-owner of Crown & Champa Resorts
Net Worth: ~US $3.7 billion (~57 billion MVR)
Major Holdings: Crown & Champa Resorts, Voyages Maldives
Biography:
Mohamed Moosa, better known by his nickname Champa Moosa, is one of the most influential businessmen in the Maldives. As a key partner in Crown & Champa Resorts, alongside tourism pioneer Hussain Afeef, he has been instrumental in building some of the country’s most iconic private island resorts. Through his company Champa Brothers, he expanded into tour operations, marine services, and real estate, solidifying his place among the wealthiest Maldivians. Though he keeps a relatively low public profile, Champa Moosa is deeply involved in community development and educational projects, ensuring that his business legacy also creates long-term opportunities for Maldivians.
Age: 62
Residence: Malé, Maldives
Source of Wealth / Title: Founder of Cyprea Group
Net Worth: Estimated hundreds of millions USD
Major Holdings: Travel agencies, marine foods export, logistics, energy
Biography:
Abdulla Saeed is the founder and chairman of Cyprea Group, a diversified conglomerate active in tourism, logistics, marine exports, and trading. He built his company from a single travel agency into one of the country’s most reliable suppliers and exporters of seafood. His group also owns and operates resorts under lease models and offers corporate services to multinational hotel chains. Saeed is praised for promoting sustainable fishing and local job creation, and his business acumen has earned him multiple national honors.
Age: 55
Residence: Malé, Maldives
Source of Wealth / Title: Chairman of Sun Siyam Group
Net Worth: ~US $1.1 billion (~17 billion MVR)
Major Holdings: Sun Siyam Resorts, tourism ventures
Biography:
Ahmed Siyam Mohamed is the founder of Sun Siyam Resorts, a premier hospitality brand in the Maldives. His resorts, including the Sun Siyam Iru Fushi and Vilu Reef, cater to high-end clientele from Europe and Asia. A forward-thinker, Siyam has invested in green energy, smart resort technology, and local tourism training centers. He has also dabbled in politics and publishing. With a passion for culture and sustainability, he’s committed to maintaining a balance between luxury and environmental preservation.
Age: 73
Residence: Malé, Maldives
Source of Wealth / Title: Founder & Chairman, Villa Group
Net Worth: ~US $1.1 billion (~18 billion MVR)
Major Holdings: Villa Shipping, Villa Air, Villa College, real estate
Biography:
A self-made billionaire, Qasim Ibrahim established Villa Group, one of Maldives’ most powerful business entities. Starting from modest roots in trading, he expanded into shipping, aviation, education, hospitality, and politics. Villa Group’s influence is seen in multiple sectors, from hotels and airlines to higher education. Qasim has served as Finance Minister and even ran for presidency. A staunch advocate for educational reform, he founded Villa College and sponsors scholarships for thousands of students.
Age: 58
Residence: Hulhumalé, Maldives
Source of Wealth / Title: CEO of Gasim Group
Net Worth: ~US $700 million (~10.8 billion MVR)
Major Holdings: Tourism ventures, shipping, trading, local media
Biography:
Not to be confused with Qasim Ibrahim, this Gasim Ibrahim leads the Gasim Group, another diversified business conglomerate. He has strong interests in tour operations, local TV networks, ferry services, and port logistics. Although less politically visible, his role in community development and infrastructure projects is significant. His company partners with regional developers and government bodies on projects aimed at expanding inter-island connectivity.
As of 2026, Ilyas Ibrahim ranks as the richest person in the Maldives, with an estimated net worth of ~US $4 billion. His wealth comes from a blend of political legacy, real estate investments, and partnerships across tourism and infrastructure.
Currently, there is no publicly declared richest women in maldives with with substantial holdings. The nation’s wealthiest figures are predominantly men who built their fortunes in luxury tourism, shipping, and real estate. However, women are increasingly playing important roles in resort management, entrepreneurship, and politics, paving the way for future female leaders in the country’s business landscape.
The Maldives’ richest individuals have built their fortunes by capitalizing on the nation's natural allure and strategic location. Their stories show how strategic investments in tourism, political leverage, and diversification can generate generational wealth. While global billionaires often make headlines, these Maldivian moguls are quietly shaping the region’s economic and cultural future—one island at a time.
The Fineducke Team is a group of passionate writers, researchers, & finance enthusiasts dedicated to helping the youth make smarter money decisions. From saving tips, investment ideas to digital income guides, our team works together to bring you easy-to-understand, practical content tailored for everyday life believing financial education should be simple & relatable.
Hussein Afeef and Champa Afeef are two different people.