Friday 10 May 2013

TOP 10 RICHEST PEOPLE IN SAUDI ARABIA

1- Prince Alwaleed Bin Talal Alsaud ($20 B)


 


  • Age: 58
  • Source of Wealth: investments, self-made
  • Country of Citizenship: Saudi Arabia
  • Education: Bachelor of Arts / Science, Menlo College; Master of Science, Syracuse University
  • Marital Status: Married
  • Children: 2
  •  
    Prince Alwaleed bin Talal bills himself as the "world's foremost value investor." His Kingdom Holding Company, of which he owns 95% and which trades on the Saudi stock exchange, owns stakes in hotel management companies Four Seasons Hotels & Resorts, Movenpick Hotels & Resorts and Fairmont Raffles Holding, as well as hotel real estate such as the swanky Hotel George V in Paris and a stake in the Savoy Hotel in London. Kingdom Holding also owns billions of dollars of U.S. and international equities, including shares of Citigroup and News Corp. In 2012 the Prince and Kingdom Holding bought an estimated 3% stake in Twitter via the secondary market for $300 million. In February Kingdom Holding invested $125 million in Chinese e-commerce company 360Buy Jingdong for an undisclosed stake. The Prince also owns extensive real estate and other assets outside of Kingdom Holding. He was the first individual to purchase an Airbus A380 double decker plane and was supposed to take delivery of it this spring, but Kingdom Holding's Chief Financial Officer informed Forbes that the plane has been sold.

    2- Mohammed Al Amoudi ($13.5 B)

     
     
    • Age: 68
    • Source of Wealth: oil, diversified, self-made
    • Country of Citizenship: Saudi Arabia
    • Marital Status: Married
    • Children: 8

    Son of Saudi father and Ethiopian mother, Mohammed Al Amoudi started investing in Sweden in the 1970s. He made his initial fortune in construction in Saudi Arabia, where he continues to add to his project portfolio with new projects for King Saud University and a new medical city complex for the Ministry of Interior. Al Amoudi is also the biggest individual investor in Ethiopia with a portfolio of interests from hotels and gold mines to agriculture and cement. He is growing rice, corn and other staples on thousands of acres, for the home market as well as for export to Saudi Arabia. His cement operations are making waves in Ethiopia with low-priced offerings. In October, Al Amoudi and DanieliSpA inked a $600 million contract to finance construction of Toussa Steel Factory, the largest steel mill in Ethiopia. He also owns oil refineries in Morocco and Sweden and oil fields off west Africa as well as a 70% stake in the National Oil Company of Ethiopia. In Sweden, his Midroc Europe will become 50% owner of the World Village of Women Sports in Malmo, Sweden, a $350 million sports,commercial and residential complex to begin construction in early 2013.


    3- Mohamed Bin Issa Al Jaber ($7 B)


     
     
  • Age: 54
  • Source of Wealth: real estate, hotels, self-made
  • Country of Citizenship: Saudi Arabia
  • Marital Status: Married
  • Children: 3
  •  
    Mohamed Bin Issa Al Jaber owns a string of luxury and budget hotels in Europe and Egypt through JJW Hotels & Resorts. He settled a battle with Standard Bank in London in December 2011. The bank had accused him of failing to repay a $150 million loan, and Al Jaber claimed the bank made an unauthorized loan deal with his assistant to cover trading losses. A UNESCO special envoy, through his foundation Al Jaber has organized support for restoring Mali's cultural heritage including mosques and old Muslim manuscripts destroyed by militant Islamists over the past year.

    4- Maan Abdul Wahed Al-Sanea ($7 B)

     
     
     
    Maan Abdul Wahed Al-Sanea is a wealthy Saudi businessman of Kuwaiti origin. In 1980, he founded the Saad Group, a conglomerate with operations in construction & engineering, real estate development, financial services and investments. Passionate about healthcare and education, he has also founded a private hospital, several educational facilities and a support center for special-needs children and their families
     

    5- Sulaiman Al Rajhi ($6 B)

     
     
     
  • Age: 93
  • Source of Wealth: banking, self-made
  • Country of Citizenship: Saudi Arabia
  • Marital Status: Married
  • Children: 23
  •  
    Sulaiman Al Rajhi announced plans in May 2011 to donate the bulk of his fortune to charity, and in a recent interview with a Saudi publication said, "Now I own only my dresses." But he is still listed on the Saudi stock exchange as the owner of nearly 20% of Al Rajhi Bank, worth more than $5 billion. He founded the bank with his brothers Abdullah, Mohammed and the late Saleh, turning it into one of the world's largest Islamic banks. Al Rajhi said he is mostly focused on his SAAR Foundation, which has funded antihunger efforts and education in Saudi Arabia. In 2000 it dissolved its U.S. branch, which had reportedly been linked to the funding of alleged terrorists.
     

    6- Saleh Al Rahji ($5.8 B)

     
     
     
  • Age: 101
  • Source of Wealth: banking
  • Residence: Riyadh, Saudi Arabia
  • Country of Citizenship: Saudi Arabia
  • Marital Status: Married
  • Children: 61
  •  
    Eldest of the 3 brothers behind $33 billion (assets) Al Rajhi Bank. With billionaire siblings, Sulaiman, Abdullah and Mohammed, built small money-changing business in Saudi Arabia's Najd desert into world's largest Islamic bank, the $33 billion (assets) Al Rajhi Bank. Shariah-compliant finance proved as vulnerable to the downturn as its secular counterpart but shares are on the rebound: up 80% since last March's lows. Nonagenarian also invested in Kingdom's expanding agriculture sector: owns 11% stake in one of country's biggest wheat producers and in July sold poultry business Hail Agricultural Development to Gulf's dairy giant Almarai for $253 million.
     

    7- Mohammed Al Issa ($2.3 B)

    
     
     
     
     
  • Age: 88
  • Source of Wealth: investments, self-made
  • Country of Citizenship: Saudi Arabia
  •  
    Mohammed Al Issa is one of the largest individual investors in the Saudi stock market. His holdings include major stakes in Savola Group, one of the Kingdom's largest food processors, and Riyad Bank. In December 2012 his son Abdullah was appointed chairman of Saudi Hotels & Resorts Co., which owns and operates hotels in Saudi Arabia, including a Marriott in Riyadh.
     

    8- Sulaiman Hamad Al Gosaibi  ($2.0 B)

     
     
     
    Sulaiman Hamad Al Gosaibi was Chairman of the Board of the Ahmad Hamad Al Gosaibi & Brothers Group of Companies based in Alkhobar, Saudi Arabia until his death in February 2009.[1]
    Inheriting a small but growing trading company from their father, Sulaiman was the youngest of three brothers who built a diversified business group with interests across the commercial spectrum, keeping pace with the Kingdom's petroleum fueled growth. Sulaiman was, until his death, the sole surviving brother and patriarch of the family conglomerate that was once considered among Saudi Arabia's most formidable merchant empires. He was its largest shareholder though management of the Group has been primarily delegated to the hands of his nephews, Yousef Ahmad Al Gosaibi (Group President) and Saud Abdul Aziz Al Gosaibi (Group Managing Director). His son, Dawood Sulaiman Al Gosaibi, is also active in family investments.

    9- Khalid bin Mahfouz  ($2.0 B)




    Khalid bin Mahfouz was the second eldest son of Salim Ahmed bin Mahfouz a Saudi who rose from being an illiterate moneychanger to the founder of the first bank in his country, the National Commercial Bank of Saudi Arabia (NCB). Salim Ahmed then became the personal banker of the Saudi royal family. He handed management of NCB, the largest bank in the country, to Khalid sometime in the 1980s.[4]
    In the 1970s Khalid bin Mahfouz bought and lived in a $3.5 million chateaux-style house, later named "Versailles," in the River Oaks area of Houston. He also bought a four thousand acre (16 km²) ranch along the Trinity River in Liberty County, Texas, near the ranch of James Bath.[5] Another of his estates, resting on 121 acres is to be sold at auction on April 11, 2013 with a guide price of 2.4 million euro.[6]
    In 1990 Khalid bin Mahfouz acquired Irish citizenship through inward-investment procedures.[7]
    Bin Mahfouz was married with three children. His personal net worth was $3.2 billion in 2006, making him one of the richest people in the world; his family fortune is worth over $4 billion

    10- Saleh Kamel  ($1.95 B)




  • Age: 72
  • Source of Wealth: diversified, self-made
  • Country of Citizenship: Saudi Arabia
  • Education: Master of Business Administration, King Abdulaziz University
  • Marital Status: Married
  • Children: 2

  • Saleh Kamel is the founder and chairman of Dallah Albaraka, a conglomerate with interests in Islamic banking, real estate development and food production. Kamel took subsidiary Dallah Health public in December 2012, keeping a 52% stake. The company runs a hospital in Riyadh and distributes pharmaceuticals and dietary supplements. Dallah is also involved in developing a light rail system, an urban community and a mosque around Mecca.