The Middle East is one of the richest regions in the world, and it is home to some of the world’s wealthiest individuals as well. The region is definitely no stranger to multi-millionaires and billionaires, and this list showcases the top ten.
Net worth: $6.50 billion (Alshaya group)
The head of the Alshaya group of companies, Mohammad Alshaya has a net worth estimated at about $6.50 billion. The Alshaya group is involved in a wide range of industries, among them real estate, construction, and advertising.
Abdul Aziz Al Ghurair
Net worth: $6.52 billion (Al Ghurair family)
Abdul Aziz Al Ghurair is one of the most recognizable members of the Al Ghurair family, which has an estimated net worth of more than $6.52 billion. Aziz himself is the CEO of Mashreq bank, which is the fourth largest bank in the UAE.
The Bugshan family
Net worth: $7 billion
The Jeddah-based Bugshan clan has a net worth of more than $7 billion. The family is involved in a number of businesses including the automotive industry, luxury cosmetics manufacturing, and electronics. The family is also heavily invested in the real estate industry.
Net worth: $7 billion
Said Khoury is a native Palestinian who comes from a wealthy family involved in the fishing industry. Much of Khoury’s estimated $7 billion fortune is the result of several high profile construction projects undertaken by the Consolidated Contractors Company, which was started by Khoury and his brother-in-law Hasib Sabbagh in the early 1950s.
Nasser El Kharafi
Net worth: $8.2 billion
A Kuwaiti entrepreneur, Kharafi is estimated to have a net worth of $8.2 billion. Starting out as the head of his own construction firm, Kharafi has since branched out into numerous profitable industries including telecommunications and finance.
The Bin Laden family
Net worth: $9.8 billion
The Bin Laden family may be best known for the notorious figure named Osama Bin Laden, but it is also one of the wealthiest families in the Arab region. Having built much of its fortune on the construction industry, the company has an estimated net worth of more than $9.8 billion.
The Olayan family
Net worth: $11.9 billion
The Olayan family initially built its fortune–currently estimated at $11.9 billion–on a trucking company started by patriarch Suleiman Olayan. The company later on expanded into a multi-billion-dollar corporation that made inroads into the Middle East, Europe and the United States.
Mohammad Al Amoudi
Net worth: $10 billion
The Ethiopian-born Mohammad Al Amoudi built his fortune on a construction company that he later expanded into an oil refinery development business. He is currently the biggest foreign investor in Sweden and the largest private employer in Ethiopia.
Mohammad bin Isa al jabar
Net worth: $7.5 billion
There is virtually no industry that the Saudi-born Al Jabar isn’t involved in. From luxury hotels to the food industry and even residential compounds, Al Jabar has a stake in them all, to the tune of $7.5 billion.
Prince Alwaleed Bin Talal Al Saud
Net worth: $20.4 billion
The richest Arab in the world is Prince Alwaleed Bin Talal Al Saud. Like many in this list, he built much of his fortune on the Saudi construction industry, although he now has a stake in various businesses and industries across the globe, encompassing technology, banking, and real estate.