Source: ForbesMiddleEast
The Arab region or the Middle East and North Africa (MENA) are well known for deserts, camels, and most importantly wealth. This stereotypical image the world has of Arabs is not a result of mere coincidence but of portraits that were constantly presented by both western media outlets and Hollywood.
Although some characteristics that Arab countries are known for are not completely true, wealth is actually not one of them. Because filthy rich businessmen existing in the Arab world are a sign of how wealthy the Arab world is. This article will provide you based on Forbes the list of the wealthiest men in the Arab World.
1. Nassef Sawiris
Nassef Sawiris is an investor and a member of Egypt's wealthiest family. He has a wealth of 7.7 billion dollars. His approximately 6% stake in Adidas, is his most valuable asset. He bought a 5% stake in Madison Square Garden Sports, the owner of the NBA Knicks and NHL Rangers, which is listed on the New York Stock Exchange, in December 2020.
He runs OCI, which has facilities in Texas and Iowa and is one of the largest producers of nitrogen fertilizer in the world. His holdings include stakes in Adidas, Lafarge, and Adidas Cement; He is a member of Adidas' supervisory board.
2. Issad Rebrab Family
Cevital, Algeria's largest privately held business, with 5.1 Billion Dollars in wealth Issad is its founder and chief executive officer. Cevital owns one of the world's largest sugar refineries, which can produce 2 million tons annually.
Cevital owns businesses in Europe, including a German water purification company, an Italian steel mill, and the French manufacturer of home appliances Groupe Brandt. Rebrab was convicted of corruption and sentenced to eight months in prison on January 1, 2020.
3. Sawiris Naguib
Naguib Sawiris comes from the wealthiest family in Egypt. Additionally, his brother Nassef is a billionaire. He made a lot of money in the telecom industry, and in 2011, he sold Orascom Telecom to the Russian telecom company VimpelCom, which is now Veon.
He is the chairman of Orascom TMT Investments, which, among other things, owns stakes in Egypt's asset manager and the Italian internet company Italiaonline. Sawiris owns 88 per cent of the pan-European pay-TV and video news network Euronews through his Media Globe Holdings. Additionally, he created the posh Silversands resort on Grenada, a Caribbean island.
4. Mikati Najib
Together with his billionaire brother Taha, Najib Mikati co-founded the investment firm M1 Group in Beirut. It has stakes in the South African telecom company MTN, the clothing retailer Pepe Jeans, and real estate in New York, London, and Monaco as part of its investments. In 1982, Mikati and his brother Taha established Investcom, which sold satellite phones at the height of the civil war in Lebanon.
As they expanded, they constructed cellphone towers in Ghana, Liberia, and Benin, among other nations in Africa. Investcom went public on the London Stock Exchange in 2005, and in 2009, MTN of South Africa paid $3.6 billion for the Mikatis' stake.
5. Mikati Taha
Together with his billionaire brother Najib, Taha Mikati cofounded the Beirut-based holding company M1 Group. It has stakes in the South African telecom company MTN, the clothing retailer Pepe Jeans, and prime real estate in New York, London, and Monaco as part of its investments. In 1982, Mikati and his brother Najib established Investcom to sell satellite phones at the height of the civil war in Lebanon.
As they expanded, they constructed cellphone towers in Ghana, Liberia, and Benin, among other nations, in Africa. Investcom went public on the London Stock Exchange in 2005, and in 2009, MTN of South Africa paid $3.6 billion for the Mikatis' stake.
6. Hussain Sajwani
Hussain is the chairman of Damac Properties, a luxury real estate developer based in Dubai that he founded in 2002. He got his start in the food services industry, serving the US military and the construction conglomerate Bechtel. He switched to real estate in 2001 when Dubai allowed foreigners to own property, and sold units in a residential building in less than six months.
In 2013, Damac and Donald Trump collaborated on the development of two Trump-branded golf courses in Dubai developments. Sajwani is well-known for its extravagant advertising, frequently providing apartment purchasers with free Lamborghinis. He has co-branding agreements with Bugatti and Versace.
7. Abdullah Bin Ahmad Al Ghurair
In 1967, Abdulla Al Ghurair established Mashreqbank, a major U.A.E. bank. He resigned as chairman in October 2019, but he continues to serve on the board. His eponymous holding company is involved in real estate, construction, and food; The team of leaders includes people who aren't family members.
His company built the Dubai Metro and the exterior cladding for the world's tallest building, Burj Khalifa. He had a billionaire brother named Saif Al Ghurair, who passed away in August 2019.
8. Mohamed Mansour
Mohamed Mansour is in charge of the family conglomerate Mansour Group, which has 60,000 employees and was established in 1952 by his father Loutfy.In 1975, Mansour opened General Motors dealerships in Egypt and went on to become one of GM's largest distributors globally.
In addition, the exclusive distribution rights for Caterpillar equipment in Egypt and seven additional African nations belong to the Mansour Group. He was Minister of Transportation for Egypt from 2006 to 2009 under Hosni Mubarak's presidency. He shares ownership with his brothers Yasseen and Youssef, who are also billionaires.
Written By: Abderrahmane Loudiyi
Edited By: Nidhi Jha
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