When rich people are mentioned, which country do you think of? I am sure most of us think of United States, European countries or China. Well here comes the twist in this tale, it is none of these countries . The richest families of world reside in Arab countries. Be it their oil or their gold toilets , they always manage to remain in news. Most of the rich Arabs have gained this status only due to presence of oil and gas in their countries. Due to this, they have become money making machines and have established huge business empires. They may not be very educated or business minded as well, however, their power resides solely in the oil industry. Their hold on world’s economy is pretty solid owing to large businesses established all around the globe. Middle Eastern countries like Qatar are known to be a hub of rich families. Since they have all the money they want, they own literally everything from luxury resorts to construction companies, from whole islands to banks . You name it and they have it. After detailed enquiry, I have been able to come up with richest Arab people around the globe. Prepare to be mesmerized by the following list of 10 most rich Arabs around the world!
10. Abdullah Bin Ahmed
This individual, living in Qatar, owns banks in Middle East. Imagine a person rich enough to own whole banking system . There have been some upsetting time for him as well, especially during recession period when the whole banking industry crumbled down. However, he managed to bounce back and double his wealth in the following time period. He has numerous companies involved in construction and food business in his home country. Currently his total assets are estimated to be about $3.1 billion which has landed him 10th place on this list.
9. Taha Mikati
Taha belongs to Lebanon and has established a communication related company along with his brother. They are one of the largest telecom group since they are providing their services to all Middle East as well as Europe and Africa. This clearly shows that telecommunication is another mint making business which attracts money like crazy. His brother is currently the president of Lebanon, therefore, he enjoys complete freedom and authority. Recently they sold some of their telecommunication rights to other companies, however, they did so at amazingly high rates. His current assets are about $3.4 billion which are expected to grow once he expands his business.
8. Najib Mikati
Another industrialist and brother of Taha Mikati, Najib rose to power owing to his brother’s company in which he has 50% shares. He did not only have a telecommunication company to boost, he also took part in politics, thereby establishing himself as a complete power package. He has been known to invest in real estate business and his property in Africa alone has been projected to be a whooping amount of $1.9 billion. His own private jets gained him a lot of fame around the world and well, who would not want be fascinated by a billionaire president?
7. Majid Al futtaim
He is known for his wealthy family due to which he has made powerful connections all over the world. He owns many retails chains which are running all around the globe. Other than that, there are numerous shopping markets owned by this gentleman whose net assets are estimated to be approximately $3.6 billion .
6. Sulaiman Al Rajhi
This is another gentleman who owns a large bank. His bank was different from those running in Middle East since he established the principles of banking purely on Islam. He encouraged Islamic banking in all Muslim countries and managed to establish branches of his bank in all notable Muslim countries. He was known for his humanitarian efforts and donated a lot for ending poverty in Africa.
5. Nassef Sawiris
While reading this list, all of us may have thought that rich Arabs do not do anything unique and just continue their family business. This is not the case with this gentleman however, who went from banking industry to telecommunication sector and managed to establish the most renowned telecommunication center in Egypt. Nassef’s total assets are about $3.6 billion which speak a lot of his success.
4. Muhammad Al Jabbar
This gentleman is an educated person who has made his own hotel chain due to his education. He has also made MBI group which is known all over the world for its humanitarian efforts. He is also investing his efforts in ensuring that some cultural and economic ties are made between Middle East and other countries.
3. Muhammad Al Amoudi
He is an icon of construction industry who owns his own oil refineries. He owns about $13.5 worth of assets, making him 3rd on this list.
2. Joseph Safra
Mr. Safra is another banking icon who managed to enhance his family assets through careful investments. His current assets are approximately $15.9 billions.
1. Prince Alwaleed
Who has not heard of this prince, currently imprisoned on money laundering charges? He has doubled up his assets through his genius, yet somewhat eccentric plans. His assets are about $20 billion.