Meet The 15 Wealthiest Arab Businessmen In The World

rich arabs

Photo: Screenshots via YouTube

Arabian Business recently released its annual Rich List, which includes the 50 richest men and women in the Arab world in 2011.Saudi Arabian business people dominate the top of the list; leading industries include retail, real estate, construction, energy, and banking.

The number one richest person in the Arab world, a Saudi Arabian prince, has maintained his seat at the top of the list for eight consecutive years, according to the publication.

We’re looking at the top 15 richest people, but you can see the complete list at Arabian Business.

#15 Sulaiman Al Rajhi

Net Worth: $5.95 billion

Residence: Saudi Arabia

How he made his fortune: Al Rajhi is one of the founders of the Saudi banking industry; Al Rahji Bank, in which he is most heavily invested, is the largest Islamic bank in the world.

Arabian Business says that Al Rajhi plans to give away most of his fortune to charity this year.

Source: Arabian Business

#14 The Kanoo Family

Net Worth: $6 billion

Residence: Bahrain

How they made their fortune: Founded 120 years ago, the Kanoo Group, which started as a trading and shipping business, is now one of the Gulf's most successful business houses.

Source: Arabian Business

#13 Tareq Abdullah Al Qahtani

Net Worth: $6.1 billion

Residence: Saudi Arabia

How he made his fortune: Al Qahtani is the chairman of the Abdel Hadi Abdullah Al Qahtani Group of Companies.

The group was founded in 1940 and has expanded to become a supplier to a diverse array of industries, especially in petrochemicals and oil and gas.

Source: Arabian Business

#12 Abdulaziz Al Ghurair

Net Worth: $6.1 billion

Residence: United Arab Emirates

How he made his fortune: Abdulaziz Al Ghurair founded Mashreq Bank in the 1960s with $1.6 million; since then he has also founded the public joint stock company Emaar.

Source: Arabian Business


#11 Al Juffali Family

Net Worth: 6.2 billion

Residence: Saudi Arabia

How they made their fortune: Founded by the late Ahmed Abdullah Al Juffali in 1924, EA Juffali & Brothers was responsible for the first power utility plant in Saudi Arabia.

Now Juffali is partnered with corporations including IBM, Mercedes-Benz, and Dow Chemicals.

Source: Arabian Business

#10 Said Khoury

Net Worth: $6.5 billion

Residence: Palestine

How he made his fortune: Said Khoury founded Consolidated Contractors International Company, an Arab construction company, with his cousin in 1952.

Source: Arabian Business

#9 Bughsan Family

Net Worth: $7 billion

Residence: Saudi Arabia

How they made their fortune: The Ahmed Salem Bugshan Group, which started as a steel company in 1923, now holds distribution rights for a diverse array of sectors, including luxury cosmetics (Dior and Nivea).

Source: Arabian Business

#8 Bin Ladin Family

Net Worth: $7.2 billion

Residence: Saudi Arabia

How they made their fortune: Founded by Mohammed Bin Ladin, the Bin Ladin family is the proprietor of Saudi Arabia's biggest construction firm; the company employs tens of thousands of people, according to Arabian Business. And yes, it's that Bin Ladin family.

It has signed on to build the Kingdom Tower, planned for Jeddah, which will be the largest building in the world if built.

Source: Arabian Business

#7 Bukhamseen Family

Net Worth: $7.25 billion

Residence: Kuwait

How they made their fortune: Founded by Jawad Ahmed Bukhamseen in 1957, the Jawad Bukhamseen Commercial Corporation now holds shares in First Gulf Bank and Kuwait International Bank.

Source: Arabian Business

#6 Al Kharafi Family

Net Worth: $8.7 billion

Residence: Kuwait

How they made their fortune: Nasser Kharafi, who established MA Kharafi and Sons, died last year.

But his sons have taken over the company, which manages stakes in the Americana food division, among other things.

Source: Arabian Business

#5 Mohammed Al Amoudi

Net Worth: $10.4 billion

Residence: Saudi Arabia

How he made his fortune: Mohammed Al Amoudi started in construction and real estate and now manages Corral Group and the Midroc Group, which are heavily invested in petroleum.

Source: Arabian Business

#4 Issam Alzahid

Net Worth: $10.7 billion

Residence: Saudi Arabia

How he made his fortune: Issam Alzahid chairs the Alzahid Group of Companies. Founded in 1951 as Alzahid Construction, the company built Saudi Arabia's first coast guard stations.

Source: Arabian Business

#3 Olayan Family

Net Worth: $12.4 billion

Residence: Saudi Arabia

How they made their fortune: The Olayan Group has gone through many permutations since it was established in 1947: trucking, food distribution, insurance, electric power. Now the Olayan Group owns more than 50 companies.

Source: Arabian Business

#2 Mohamed Al Jaber

Net Worth: $12.75 billion

Residence: Saudi Arabia

How he made his fortune: Mohammed Al Jaber's MBI International employs over 9,000 people in three continents. Al Jaber is a generous philanthropist.

Source: Arabian Business

#1 HRH Prince Alwaleed

Net Worth: $21.3 billion

Residence: Saudi Arabia

How he made his fortune: Arabian Business writes that Prince Alaweed has maintained his perch atop its Rich List for eight consecutive years.

His company, Kingdom Zephyr Africa Management, is planning to construct the world's tallest building, Kingdom Tower, in Jeddah.

Read more about the mysterious prince Alaweed here >

Source: Arabian Business

Wondering about East Asia?

NOW WATCH: Executive Life videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.