Emirati businessman Majid Al Futtaim

Emirati billionaire Majid Al Futtaim, who rose from working as a bank clerk to create an eponymous business empire best known for its massive Dubai mall with an indoor ski slope, has died.

Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum announced Mr Al Futtaim’s death in a post on Twitter, praising him as one of the sheikhdom’s “most important merchants”.

“May God have mercy on him and place him in his spacious gardens,” Sheikh Mohammed wrote.

A cause for his death was not immediately announced, or his age, but prayers for him and his family had circulated on social media in recent days.

Mr Al Futtaim’s business empire also acknowledged his death online.

“Majid Al Futtaim was a visionary entrepreneur who transformed the face of business in the entire region and his lifetime achievements have been an inspiration for many,” the company wrote on Twitter.

“Our sincere thoughts and prayers are with Mr Majid’s family and loved ones during this difficult time.”

The family’s business empire dates back to the 1930s, when Dubai was a small pearling village before the discovery of oil in what would become the United Arab Emirates.

Al Futtaim was a family trading company allied with the city-state’s ruling Al Maktoum family.

Over the decades, it became a trusted partner with foreign brands seeking business, such as Toyota in 1955.

But a bitter family feud between Majid Al Futtaim and his cousin Abdullah required Sheikh Mohammed to step in to resolve it in the early 2000s.

Al Futtaim run by Abdullah ended up taking the car side of the business and some retail brands.

Majid Al Futtaim Holding, founded in 1992, was Majid’s business vehicle after the split.

He became a retail powerhouse in the Middle East and beyond after working as a clerk at the Bank of Oman, which later became Mashreq Bank.

Majid Al Futtaim.