The World's Richest Arabs, la deuxieme et parte finale!!! (Second & final part).

20. The Al Rajhi family$5bn ($4.3bn)DiversifiedSaudi ArabiaSulaiman Al Rajhi may have fulfilled the vow he made three years ago to donate the vast proportion of his family wealth to charity, but there’s still plenty in the pot left for his family. His brothers Abdullah, Mohammed and the late Saleh, were the founders of Al Rajhi Bank, the second-biggest bank in Saudi Arabia, which now has assets worth a colossal $73bn. The bank’s origins date back to the 1940s, when it began operating as a money changer in the kingdom. Today, its operations include retail, corporate and investment banking. With an established base in Riyadh, Al Rajhi Bank has a network of over 550 branches, over 100 dedicated ladies branches and more than 2,600 ATMs. As well as the controlling stakes in Al Rajhi Bank, the family also has interests in the Al Baraka Banking Group, as well as Yanbu Cement and NADEC.
22. Hussain Sajwani$4bn (New entry)PropertyUAEHussain Sajwani is both the founder and CEO of Damac Group, the Middle East's largest private sector luxury property developer. Sajwani started his career in the oil and gas industry, but in his heart, he was an entrepreneur. He left his job after two years, and founded a conglomerate whose activities encompass property development, insurance, manufacturing, education, securities, investment and commercial trading. You may know Damac from its luxury property portfolio, but Damac Holding also operates the largest catering company in the Middle East and is one of the leading insurance providers in Bahrain. The true extent of Sajwani’s net worth has only really become evident via the recent listing of Damac Properties in London, which values the company at some $4bn. Sajwani’s 85 percent stake in that company, together with his other existing interests in Damac Group, put our estimate of his wealth at a conservative $4bn.

24. The Gargash family$3.5bn ($3.7bn)DiversifiedUAEThe Emirates-based Gargash clan is well known in the business world. In the automobile sector, the Gargash family is the sole agent for Mercedes Benz in Dubai through Gargash Enterprises, whilst elsewhere, it is also involved in electronics, real estate, insurance, industrial development and construction. Founded in the last decade of the 19th century, the firm, which was built on the back of Abdul Gafour and his nephews, quickly emerged from a small body led by the late Ali Haji Abdulla Awazi Gargash, to one of the region’s leading trading houses today. Shehab Gargash (above) has been particularly successful running Daman Investments, founded in 2000.

26. Adel Aujan$3.3bn ($3.56bn)RetailSaudi ArabiaIn 2011 Aujan announced a colossal deal to sell a minority stake in his firm to Coca-Cola for a sliver under $1bn. Not content with leading the Gulf’s biggest privately owned beverage company, Aujan Industries, the chairman of the firm has been aggressively growing his offerings to different markets. Aujan’s juice brand, Rani, is Iran’s best-selling beverage and is planning to add to its three factories by putting a facility in Iraq, politics permitting.In 2008, Aujan Industries nailed a target to deliver $500m in revenue 12 months ahead of its five-year schedule. The firm has tripled its sales since 2004 and is on track to double them again by the end of this year. Vimto, just one of its brands, has been a leading fixture on Gulf dining tables.

28. Najib Mikati$3.2bn ($3.4bn)TelecommunicationsLebanonNajib Mikati, who entered Lebanon’s fractious political scene in 1998 as minister of public works and transport, before then becoming a member of parliament representing his native northern port city of Tripoli, later served as a caretaker premier once in 2005 in the aftermath of the assassination of former premier Rafiq Hariri. He helped steer the country towards parliamentary elections in the wake of the killing before returning in 2011 to serve as premier after the government of Saad Hariri was toppled by Hezbollah and its allies. Mikati helped co-found Investcom along with his brother Taha in 1982 and was later listed on both the London and Dubai stock exchanges in 2006, in what was at the time the largest international listing of a Middle Eastern company.
31. Abdulatif Al Fozan$3.05bn ($3.25bn)DiversifiedSaudi ArabiaThe big news for Abdulatif Al Fozan last year was the listing of one of his holding company’s firms, Saudi Bawan Holding. The company, which specialises in building materials, raised $144m by listing 30 percent of its shares on the Tadawul and was heavily over-subscribed. Al Fozan is the chairman of Al Fozan Group, a 41-year-old company with interests in building materials, commercial and industrial steel, electrical and hardware items and accumulated technologies. It also holds equity stakes in several affiliate ventures, from banks and petrochemical firms, to recycling and consumer retail operations. These stakes are part of a long-term plan to diversify its revenue streams. In the kingdom, the group is also one of the largest importers of steel, wood, electrical and hardware material. Like many Gulf businessmen, Abdulatif Al Fozan took over the firm from his father.
32. Issad Rebrab$3bn (New entry)DiversifiedAlgeriaAself-made man, Issad Rebrab is currently celebrating his 70th birthday. He runs Algeria’s biggest conglomerate, Cevital, which manages not only one of the world’s largest sugar refineries, but also has interest in steel, cars, agriculture and refining. In 1998, Rebrab launched the project to create an industrial/ energy complex, Cap 2015, about 60km east of Algiers, together with a small town of 250,000 inhabitants with the ambition of generating 100,000 direct jobs and a further million indirect jobs.
33. The Hayek family$2.9bn ($3.2bn)RetailSwitzerland (Lebanon)The world’s biggest watchmaking company is going from strength to strength, raking in a whopping $9.7bn in sales during the course of 2013. While the market has been a bit tougher this year, due to the strength of the Swiss franc, but an expected strong performance in the US and Japan means that the outlook for Swatch is still glittering. The firm is led by chairwoman Nayla and CEO Nick (pictured), who took over the publicly traded firm after the recent death of their father, Nicolas. And, if their latest move pays off, it looks like the group’s revenues could be about to get even larger.Aside from sales of its own brands, which include Longines, Tissot, Omega and Breguet, Swatch also devotes significant investment to mechanical movements and components, which it has until now sold off to rival manufacturers. Swatch recently spent $1bn buying the Harry Winston brand, which it plans to use to get even greater access into markets like the US and China.
34. Bahaa Hariri$2.8bn ($3.1bn)InvestmentsSwitzerland (Saudi Arabia)It’s been a landmark year for Rafiq Hariri’s eldest son, Bahaa. In June, he opened the first phase of a $5bn mixed-used megaproject in Amman. His real estate arm, Horizon Development, focuses on commercial projects in Jordan and Lebanon and is a major shareholder in the Abdali Investment and Development Company. Hariri chose not to follow his father’s path into politics and instead forged his own career in business. He currently resides in Geneva, and derives the bulk of his fortune from investment management. Bahaa has made considerable efforts to continue his father’s legacy. Part of that drive has included sponsorship of the Atlantic Council’s Rafiq Hariri Centre for the Middle East, a body that seeks to bind the region’s political and economic ties with the transatlantic nations.
35. Saad Hariri$2.7bn ($3.3bn)InvestmentsLebanonMarried with three children, Saudi-born businessman and politician Saad Hariri is a huge achiever in the Arab world. After graduating from the McDonough School of Business, he continued to meet the family’s high expectations, and in November 2009, at the age of 40, was sworn in as Lebanon’s prime minister. Raised in Saudi Arabia, Saad managed part of Rafiq Hariri’s business until his father’s assassination in 2005, when he returned home to follow him into politics and became an elected Member of Parliament (MP). As the general manager of Saudi Oger — the family’s $9bn construction company — he had huge success winning large projects, and helping build the company up to what it is today. Hariri currently holds large stakes in a number of large firms. Solidere, for example, has rebuilt much of Beirut. Following the downturn, he admitted to revising the value of his construction portfolio, but has continued to push forward with a view to emerging from the recession successfully.
36. Ziad Manasir$2.6bn ($2.58bn)EnergRussia (Jordan)Earlier this year, Ziad Manasir sold off all his shares in Stroygazconsulting, the firm he built from scratch, to Chechen businessman Ruslan Baisarov. It marks a sea change for the Jordanian-born magnate, who travelled to Russia on a student exchange programme at just 19 years old before deciding to make the country his home. In 1996 he established Stroygazconsulting, which has grown from a small firm erecting single buildings and structures, to one of Russia’s largest construction holding companies. The firm employs over 63,000 people and operates around 30 production units that span the former Soviet countries, the Middle East and the Gulf. The firm has close ties with Russian energy giant Gazprom and has expanded into pipelines, roads and other infrastructure construction. Manasir, who tends to shun the limelight, was awarded the Order For Merit to the Fatherland last year by Russia, for his career achievements and work on the Eastern Siberia-Pacific Ocean oil pipeline.
40. Mansour Ojjeh$2.45bn ($2.8bn)SportFrance (Saudi Arabia)It has been a tough year for the French-Saudi entrepreneur, who has been recovering from a double lung transplant operation conducted in December last year. In January, he stepped down as a director at the McLaren Group.Ojjeh still heads up Techniques d’Avant Garde (TAG), a Luxembourg-based holding company. The firm owns 21 percent of the McLaren Group. Ojjeh’s passion for motor racing is renowned. His interest was first sparked by a visit to the Monaco Grand Prix in 1978 and TAG quickly became the Williams’ team principal sponsor a year later. In 1981, Ojjeh invested $5m in a Porsche built turbo engine for McLaren and the two firms went on to establish TAG Turbo Engines. In 1983, Ojjeh became a majority shareholder in McLaren, although details of the deal were not made public until 1985.Ojjeh’s father is the Saudi-born businessman, Akram Ojjeh, founder of TAG. The firm was famous as an intermediary in deals between Saudi Arabia and France, particularly arms sales. TAG Group’s interests also include TAG Aviation, a corporate jet firm which has Europe and Asia as its main growth areas and which runs a fleet of more than 100 aircraft.
41. Othman Benjelloun$2.4bn (New entry)DiversifiedMoroccoBorn in Morocco, his father was a large shareholder in an insurance company that Othman would take over in 1988; turning it into RMA Watanya. After purchasing the insurance company, Benjelloun expanded the business venture into the banking industry. His banking enterprise, the BMCE Bank has its presence felt in at least 12 countries in Africa after it purchased the Mali-based Bank of Africa.Othman received an education in engineering at the École Polytechnique Fédérale de Lausanne in Switzerland. During the 1960s and 1970s, Othman would make strategic alliances with global automobile manufacturers Volvo and General Motors. He is also the chairman of Meditelecom along with being associated with Telefónica and Portugal Telecom.
42. Ayman Asfari$2.35bn ($2.7bn)EnergyUK (Syria)The boss of oil services giant Petrofac, Asfari sits at the helm of one of the fastest growing FTSE 100 businesses. By any measure, Asfari is a success story. He took his first role in construction in Oman in his early 20s in a bid to fund an MBA at Wharton. It turned out to be unnecessary; less than a decade later, he was a millionaire with his own firm.Since buying out Petrofac in 2001, Asfari has turned it into one of the leading players in the oil market. It listed in 2005 and today employs more than 17,000 people worldwide, with bases spanning the UK, Sharjah, India and Malaysia. But just two weeks ago the company saw its shares plunge 26 percent after a profits warning — leading to a sharp fall in his wealth.
43. Mohammed Ibrahim$2.2bn ($2.15bn)TelecommunicationsUK (North Sudan)Ibrahim is a British Sudanese mobile communications entrepreneur and billionaire. He was born in North Sudan and started out working at the African country’s postal service. He earned a Bachelor of Science in Electrical Engineering from the University of Alexandria before going off to the UK to get his master’s degree and PhD, and ended up as an academic with a specialisation in mobile communications.When British Telecommunications was about to launch the first mobile service in the UK the company invited him to come on board as a technical director and engineer. Ibrahim left his job with the support of his wife to become a consultant and eventually forming his own company with $50,000 in savings. With the help of 450 engineers the company designed networks around the world. He then sold his first company a few years later for about $1bn.
45. Nadhmi Auchi$1.9bn ($2.2bn)DiversifiedUK (Iraq)The British Iraqi businessman moved to the UK in the 1980s, and is chairman of the Anglo-Arab Organisation with stakes in construction and trading companies in Iraq. Auchi founded Luxembourg-based General Mediterranean Holdings, which has business segments in banking and finance, real estate, construction, hotel and leisure, industrial, trading and pharmaceuticals, communications, IT and aviation.Its interests today span across the Mediterranean and beyond with over 120 companies employing some 11,000 staff with representation in the Middle East, Northern Africa, Europe, the Americas, the Caribbean, the Asia subcontinent and the Pacific Rim. The group’s consolidated assets now exceed $4bn. Hotel holdings include Le Royal in Luxembourg, Amman, Beirut, Tangier and Tunis. He has been honoured for his services to the business community by the Queen, and Pope John Paul II, among others.
46. Saleh Kamel$1.85bn ($2bn)Islamic financeSaudi ArabiaSaleh Kamel may have had a humble start in life, but his business acumen and dedication have seen him rise to become one of the pioneers of Islamic finance. His Dallah Albaraka Group has operations in 40 countries around the world; as well as Islamic banking, it also has interests in real estate, construction and manufacturing.Born in Taif, Saudi Arabia, Kamel grew up in Makkah and attended Riyadh University and went on to work at the kingdom’s Ministry of Finance. He left public office to start Dallah Establishment in the early 1960s. By the early 1980s he established the AI Baraka Investment & Development conglomerate, a holding company for many Islamic banks and financial Institutions operating according to Islamic principles in various diversified business activities all over the world. Over the course of the last half-century, Kamel has helped set up some of the Arab world’s most influential Islamic banks, including Faisal Islamic Bank in Egypt and Sudan, Dubai Islamic Bank and Jordan Islamic Bank. Kamel’s workload includes heading up the Jeddah Chamber for Commerce and Industry, and he also oversees the Egyptian Saudi Business Council.
47. Hasan Abdullah Ismaik$1.8bn (New entry)ConstructionUAE (Jordan)Just 37 years old, he became Jordan’s first business billionaire in June this year after his stake in construction giant Arabtec was raised to 20.5 percent. Ismaik had taken over as the CEO after joining the company a year earlier, following the purchase of a 22 percent stake in Arabtec by Aabar Investments, which also resulted in the departure of founder Riad Kamal.But shortly after achieving billionaire status, Ismaik resigned from the company as its share price plunged – only to recover after Aabar increased its stake to 34.93 percent. Having earlier sold a huge chunk of shares to Aabar, Ismaik is still registered as the owner of 11.8 percent of Arabtec shares. According to Reuters he is looking to offload these in the new future, but for now at least, the shares — and their value — can be attributed to him.
48. Mohammed Al Fayed$1.7bn (new entry)RetailUK (Egypt)After selling Harrods to Qatar Holding in 2010 for $2.4bn, the Egyptian-born tycoon moved into online retailing by taking over discount fashion website Cocosa and a stake in designer brand Issa. Back in 2013 he also sold Fulham Football Club for $300m, coming soon after the sale of his lease on 75 Rockefeller in New York City. Al Fayed still owns the Hotel Ritz in Paris. Now 85, his mega deals seem a thing of the past with his sons and daughter now starting to make an impact on the business world.
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