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.
Saudi Richest People
Saturday, June 8, 2013
Mohamed Bin Issa Al Jaber
Sheikh Mohamed Bin Issa Al Jaber is a self-made Saudi entrepreneur and philanthropist who has successfully built an international business empire spanning Europe and the Middle East. He is founder, Chairman and CEO of MBI Group, which has assets valued in excess of $9 billion; and founder and sole patron of the MBI Al Jaber Foundation, a UK registered charity focused on building bridges between the Middle East and the wider world, working in three key areas: education, cultural dialogue and good governance.
Sheikh Mohamed is founder, Chairman and CEO of MBI Group, an international conglomerate which spans Europe and the Middle East. The Group is a worldwide investment institution operating in the hospitality, real estate, finance, oil and gas and food industries.
Sheikh Mohamed is founder, Chairman and CEO of MBI Group, an international conglomerate which spans Europe and the Middle East. The Group is a worldwide investment institution operating in the hospitality, real estate, finance, oil and gas and food industries.
Friday, June 7, 2013
Maan Al-Sanea
Saudi businessman made fortune securing contracting deals for construction of residential and industrial facilities in and around oil-rich Saudi Arabia's Al-Khobar region in the Eastern province. Suffered setback in May 2004 when 22 people were killed, several of them Western expatriates, in a terrorist attack at Oasis, his residential compound. Passionate about health care and education; founded a private hospital and a support center for special-needs children and their families in the Kingdom.
Sulaiman Abdul Aziz Al Rajhi
Sulaiman Abdul Aziz Al Rajhi |
Sulaiman Al-Rajhi grew up in the Nejd desert where he and his brother Saleh began their business by changing money for pilgrims taking camel caravans across the desert to the cities of Mecca and Medina.
Sulaiman Abdul Aziz Al Rajhi holds the largest individual stake in his family's Al Rajhi Bank, which has consistently reported the most profitable operations amongst all of Saudi Arabia's banking groups. A co-founder of the bank, with older brother, Saleh, he is currently the chairman of what is nationally recognized as the Tadawul's most venerable institution.
The Al Rajhi brothers’ business growth and expansion was fed by the flood of migrant workers to Saudi Arabia during the 1970s oil boom. The Al Rajhis helped them send their earnings home to places like Indonesia and Pakistan. In 1983, the brothers won permission to open Saudi Arabia’s first Islamic bank, one that would observe religious tenets such as a ban on interest.
The Al Rajhi family continue to be Al Rajhi Bank's majority share holders though Sulaiman and his brothers have diversified family investments into gypsum, agriculture, steel, and other industrial sectors. His higher educational degree was elementary degree. He lives in Saudi Arabia and has at least 23 children.
The Al Rajhi family is considered, by most in Saudi Arabia, as the country's wealthiest non-royals, and among the world's leading philanthropists. His flagship SAAR Foundation (fronting a network of charities, think tanks, and supporting business entities) achieved prominence as the key subject of a March 20, 2002 raid by Federal Bureau of Investigation (FBI), as a part of Operation Green Quest.
The Operation Green Quest raids led to the convictions of two people, including Abdurahman Alamoudi, who worked for the SAAR Foundation. Alamoudi admitted that he plotted with Libya to assassinate the Saudi ruler and was sentenced to 23 years in jail.
He established the Sulaiman Alrajhi University in his hometown, a non profit university. The university's main focus is on health and Islamic banking, but contains other faculties as well.
In May 2011, he announced he was donating most of his $7.7 billion fortune to charity.
Mohammed Al Amoudi
Sheikh Mohammed Hussein Ali Al Amoudi is a Saudi Arabian/Ethiopian businessman and billionaire who lives in Ethiopia and Riyadh, Saudi Arabia. As of 2011, Forbes has estimated his net worth at $12.3 billion, making him the 63rd richest person in the world. This listing also ranks him as the richest person in Ethiopia and the second richest Saudi Arabian citizen in the world. As of March 2013, Forbes ranked Al Amoudi as the second richest black person in the world. Al Amoudi made his fortune in construction and real estate before branching out to buy oil refineries in Sweden and Morocco. He is said to be the largest foreign investor in both Sweden and Ethiopia.
Al Amoudi owns a broad portfolio of businesses in oil, mining, agriculture, hotels, hospitals, finance, operations and maintenance. His businesses are largely to be found within two conglomerate holding and operating companies, Corral Petroleum Holdings and MIDROC, both which he owns and manages. He employs over 40,000 people through these companies.
Al Amoudi's construction company consortium, Mohammed International Development Research and Organization Companies, also known as MIDROC, won a contract to build Saudi Arabia's estimated $30 billion nationwide underground oil storage complex in 1988. MIDROC acquired Yanbu Steel in Saudi Arabia in 2000.
In addition to his substantial business interests in Ethiopia, he also owns oil refineries in Morocco and Sweden and is engaged in energy exploration and production off West Africa and elsewhere. His Addis Ababa Sheraton is said to be among the finest hotels in Africa.
He has recently pledged US$275 million alongside other Saudi and South Korean investors through MIDROC to finance a factory to build Saudi Arabia's first car, to be called Gazal-1, in a project initiated by King Saud University and, in September 2011, it was announced that he planned to invest around US$1.07bn (4bn Saudi Riyals) in two major Saudi industrial projects (phosphate derivatives and sulfur) in Ras Al Khair [Eastern Region] and Jubail Industrial City respectively.
Al Amoudi's construction company consortium, Mohammed International Development Research and Organization Companies, also known as MIDROC, won a contract to build Saudi Arabia's estimated $30 billion nationwide underground oil storage complex in 1988. MIDROC acquired Yanbu Steel in Saudi Arabia in 2000.
In addition to his substantial business interests in Ethiopia, he also owns oil refineries in Morocco and Sweden and is engaged in energy exploration and production off West Africa and elsewhere. His Addis Ababa Sheraton is said to be among the finest hotels in Africa.
He has recently pledged US$275 million alongside other Saudi and South Korean investors through MIDROC to finance a factory to build Saudi Arabia's first car, to be called Gazal-1, in a project initiated by King Saud University and, in September 2011, it was announced that he planned to invest around US$1.07bn (4bn Saudi Riyals) in two major Saudi industrial projects (phosphate derivatives and sulfur) in Ras Al Khair [Eastern Region] and Jubail Industrial City respectively.
Al Amoudi has invested in Ethiopia since the mid-1980s. He now has substantial business interests there, largely operated through MIDROC Ethiopia which was created in 1994. In 2011 it made 1.3bn birr (US$70m) of profits.
He has major gold mining interests in Ethiopia and it is reported that MIDROC Gold Mine (a subsidiary of MIDROC Ethiopia) has paid the Ethiopian Government 100.1 million birr in royalties, the largest contribution of any mining company. Midroc Gold is Ethiopia’s sole gold exporter. Its Lega Dembi mine has a yearly average production of around 4,500 kg of gold and silver.
He owns 70% of National Oil Ethiopia, which competes with YBF, TAF and five other companies in the national petrol market and is establishing a major steel plant (Tossa) in Amhara. This latter is Ethiopia’s first industrial steel production plant and in intended to meet a major increase in domestic demand, estimated to rise from 1.2m tonnes to 3.1m tonnes per annum between 2011 and 2014.
In February 2011, the Sheikh acquired 69% of Ethiopia’s sole tyre manufacturer Addis Tyre and he has a substantial investment in cement production through Durba Midroc which was founded in 2008. His major cement plant near Chancho was backed in part by the World Bank’s International Finance Corporation. In July 2011, it was announced that the Ethiopian Electric Power Company [EEPco] would provide the Derba cement plant with 50MW of electricity.
The Al Amoudi-owned Saudi Star Agricultural Development Plc plans to develop up to 500,000 hectares (1,200,000 acres) of Ethiopian land for sugar, edible oil, and grain production. In March 2011, Saudi Star announced a further investment of $2.5 billion in Ethiopian rice projects. Some 10,000 hectares have been taken up in 60-year leases and the company plans to rent an additional 290,000 hectares.[22] The company had reportedly purchased $80 million in equipment from [Caterpillar Inc].
President Girma Wolde-Giorgis of Ethiopia has stated that “a substantial investment in agricultural development was key to improving the quality of life across Africa” and that Saudi Star’s major investment programme would benefit both Ethiopia and its important trading partner, Saudi Arabia.
Al Amoudi also owns land used to produce coffee. Of the 2,295 hectares (5,670 acres) of land acquired by Ethio Agri-CEFT (which he owns) in the Sheka Zone of Ethiopia, it has only covered 1,010 hectares with coffee and shade trees, with the rest remaining as natural vegetation. In 2011, he donated 10 million birr (US$500k) to the proposed Ethiopian National Coffee Museum in Ethiopia’s Kaffa Zone.
In September 2011, in response to an appeal from Prime Minister Meles Zenawi for popular support for the financing of the major Renaissance Dam in North West Ethiopia which will triple the country’s hydro-electric power, the Sheikh pledged a donation of 1.5bn birr (around US$88m).
Al Waleed Bin Talal
Al Waleed Bin Talal (born 7 March 1955) is a Saudi Arabian businessman and investor. He is a member of the Saudi royal family.
He is the founder, CEO, and 95%-owner of the Kingdom Holding Company. Arabian Business ranked him as the most influential Arab in the world. Forbes listed Talal as the 26th-richest man in the world, with an estimated net worth of US $20 Billion.
Al Waleed began his business career in 1979 upon graduation from Menlo College. His activities as an investor came to prominence when he bought a substantial tranche of shares in Citicorp in the 1990s when that firm was in crisis. With an initial investment of $550 million ($2.98 a share after adjusting for stock splits, acquisitions, and spin-offs, according to Bloomberg calculations) to bail out Citibank caused by underperforming American real estate loans and Latin American businesses, his holdings in Citigroup now comprise about $1 billion.
In 1997, Time Magazine reported that Al Waleed owned about 5 percent of News Corporation. In 2010, Alwaleed's stake in News Corp. was about 7% worth $3Bn; and News Corp. had a $70 million (9%) investment in Al Waleed's Rotana Group, the Arab world's largest entertainment company. This review of his holdings also referred to the Al Waleed investment AOL as if it was perhaps in the past.
His stake in Citibank once accounted for approximately half of his wealth, prior to the financial crisis of 2007–2010. At the end of 1990, he bought 4.9 percent of Citicorp’s existing common shares for $207 million ($12.46 per share)—the most that he could without being legally obliged to declare his interest. In February 1991, he spent $590m buying new preferred shares, convertible into common shares at $16 each. This amounted to a further 10% of Citicorp and took his stake to 14.9%.
In 1999, The Economist expressed doubts about the source of income of Prince Al Waleed and whether he is a front man for other Saudi investors. Because his income in the 1990s was insufficient to cover his expenditures. "You could barely clothe a Saudi prince for such sums, let alone furnish him with a multi-billion-dollar empire. Nevertheless, by 1991 Prince Alwaleed had felt able to risk an investment of $797m in Citicorp", wrote the magazine.
Later, he also made large investments in AOL, Apple Inc., MCI Inc., Motorola, Fox News, and other technology and media companies.[14] Al Waleed's stake in Apple was sold in 2005.
Al Waleed also invested in Eastman Kodak and the airline TWA, these investments have both performed poorly.His real estate holdings have included large stakes in the Four Seasons hotel chain and the Plaza Hotel in New York. He sold half of his shares in the latter in August 2004. He has made investments in London's Savoy Hotel and Monaco's Monte Carlo Grand Hotel. He currently holds a 10% stake in Euro Disney SCA, the company that owns, manages, and maintains Disneyland Paris in Marne-la-Vallee.
In January 2005, Al Waleed purchased the Savoy Hotel in London for an estimated GBP £250 million, to be managed by Fairmont Hotels and Resorts; his sister, Sultana Nurul owns an estimated 16% stake. In January 2006, in partnership with the U.S. real estate firm Colony Capital, Kingdom Holding acquired Toronto, CA-based Fairmont Hotels and Resorts for an estimated $3.9 billion. In 2009, it was reported that Al Waleed owned 35% of Saudi Research and Marketing Group (SRMG), reportedly the largest media company in the Middle East.
In August 2011, Al Waleed announced that his company had contracted Saudi Binladen Group to build the next tallest building in the World, the Kingdom Tower at a height of at least 1,000 metres (3,300 ft) for SR 4.6 billion. The original plan announced in 2008 called it برج الميل (Arabic for "the Tower of One Mile") at 1,609 metres (5,279 ft) and an estimated cost of US$10 billion.[citation needed]
In December 2011, Al Waleed invested $300 Million in Twitter through the purchase of secondary shares from insiders. The purchase gave Kingdom Holding a "more than 3% share" of the company, which was valued at $8Bn in late summer 2011.
He is the founder, CEO, and 95%-owner of the Kingdom Holding Company. Arabian Business ranked him as the most influential Arab in the world. Forbes listed Talal as the 26th-richest man in the world, with an estimated net worth of US $20 Billion.
Al Waleed began his business career in 1979 upon graduation from Menlo College. His activities as an investor came to prominence when he bought a substantial tranche of shares in Citicorp in the 1990s when that firm was in crisis. With an initial investment of $550 million ($2.98 a share after adjusting for stock splits, acquisitions, and spin-offs, according to Bloomberg calculations) to bail out Citibank caused by underperforming American real estate loans and Latin American businesses, his holdings in Citigroup now comprise about $1 billion.
In 1997, Time Magazine reported that Al Waleed owned about 5 percent of News Corporation. In 2010, Alwaleed's stake in News Corp. was about 7% worth $3Bn; and News Corp. had a $70 million (9%) investment in Al Waleed's Rotana Group, the Arab world's largest entertainment company. This review of his holdings also referred to the Al Waleed investment AOL as if it was perhaps in the past.
His stake in Citibank once accounted for approximately half of his wealth, prior to the financial crisis of 2007–2010. At the end of 1990, he bought 4.9 percent of Citicorp’s existing common shares for $207 million ($12.46 per share)—the most that he could without being legally obliged to declare his interest. In February 1991, he spent $590m buying new preferred shares, convertible into common shares at $16 each. This amounted to a further 10% of Citicorp and took his stake to 14.9%.
In 1999, The Economist expressed doubts about the source of income of Prince Al Waleed and whether he is a front man for other Saudi investors. Because his income in the 1990s was insufficient to cover his expenditures. "You could barely clothe a Saudi prince for such sums, let alone furnish him with a multi-billion-dollar empire. Nevertheless, by 1991 Prince Alwaleed had felt able to risk an investment of $797m in Citicorp", wrote the magazine.
Later, he also made large investments in AOL, Apple Inc., MCI Inc., Motorola, Fox News, and other technology and media companies.[14] Al Waleed's stake in Apple was sold in 2005.
Al Waleed also invested in Eastman Kodak and the airline TWA, these investments have both performed poorly.His real estate holdings have included large stakes in the Four Seasons hotel chain and the Plaza Hotel in New York. He sold half of his shares in the latter in August 2004. He has made investments in London's Savoy Hotel and Monaco's Monte Carlo Grand Hotel. He currently holds a 10% stake in Euro Disney SCA, the company that owns, manages, and maintains Disneyland Paris in Marne-la-Vallee.
In January 2005, Al Waleed purchased the Savoy Hotel in London for an estimated GBP £250 million, to be managed by Fairmont Hotels and Resorts; his sister, Sultana Nurul owns an estimated 16% stake. In January 2006, in partnership with the U.S. real estate firm Colony Capital, Kingdom Holding acquired Toronto, CA-based Fairmont Hotels and Resorts for an estimated $3.9 billion. In 2009, it was reported that Al Waleed owned 35% of Saudi Research and Marketing Group (SRMG), reportedly the largest media company in the Middle East.
In August 2011, Al Waleed announced that his company had contracted Saudi Binladen Group to build the next tallest building in the World, the Kingdom Tower at a height of at least 1,000 metres (3,300 ft) for SR 4.6 billion. The original plan announced in 2008 called it برج الميل (Arabic for "the Tower of One Mile") at 1,609 metres (5,279 ft) and an estimated cost of US$10 billion.[citation needed]
In December 2011, Al Waleed invested $300 Million in Twitter through the purchase of secondary shares from insiders. The purchase gave Kingdom Holding a "more than 3% share" of the company, which was valued at $8Bn in late summer 2011.
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