This year there are 22 Arab billionaires worldwide than there were in 2020, while 2019’s list omitted Kuwait’s Kutayba Alghanim, but welcomed back Qatar’s Hamad bin Jassim Al Thani with an estimated wealth of $1.3 billion, and Morocco’s Othman Benjelloun & family, also with $1.3 billion.
Egypt’s Nassef Sawiris remains the richest Arab in the world 2021, with a net worth of $8.3 billion—$3.3 billion more than last year. His most lucrative asset is a 6% stake in sportswear manufacturer Adidas. He also runs OCI, one of the world’s largest nitrogen fertilizer producers, with plants in Texas and Iowa.
Algeria’s only billionaires, Issad Rebrab & family, are the world’s second-richest Arabs, worth $4.8 billion. Rebrab is the founder and CEO of Cevital, Algeria’s largest privately-held company. Cevital owns one of the largest sugar refineries globally, with the capacity to produce two million tons of refined sugar a year.
Qatar’s second billionaire, Faisal Bin Qassim Al Thani, owns Al Faisal Holdings and is valued at $1.6 billion. Oman’s only billionaire, Suhail Bahwan, is valued at $2.3 billion.
Lebanese Jeweler Robert Mouawad is the only billionaire living in Bahrain and is valued at $1.4 billion. Najib and Taha Mikati are the only Lebanese billionaires residing in Lebanon and are worth $2.5 billion each. Bahaa, Ayman, and Fahd Hariri—sons of the former Prime Minister of Lebanon, Rafiq Hariri now live in Europe and are worth $2 billion, $1.3 billion, and $1.1 billion, respectively.
The Richest Arab In The World 2021
5. Abdulla bin Ahmad Al Ghurair ( Net worth: $2.8 Billion)
Al Ghurair founded Mashreqbank, a leading United Arab Emirates bank, in 1967. He stepped down as chairman in October 2019 but remained a board member. His eponymous holding company has interests in food, construction and real estate; non-family members are part of the leadership team.
His construction company did the exterior cladding of Burj Khalifa, the world’s tallest building, and helped build the Dubai Metro. His brother Saif Al Ghurair, who passed away in August 2019, was also a billionaire. Abdulla bin Ahmad Al Ghurair’s net worth is $2.8 Billion.
4. Naguib Sawiris ( Net worth: $3.2 Billion)
Naguib Sawiris is the son of Egypt’s wealthiest family. His brother Nassef is also a tycoon. He built a telecom fortune by developing Orascom Telecom in 2011, which was purchased by Russian telecom company VimpelCom (currently VEON) at a multibillion-dollar price tag.
Sarwat Sawiris is chairman of the telecom company Orascom TMT Investments. which has stakes in an asset manager in Egypt and Italian internet company Italiaonline, among others. Sawiris owns 88% of pan-European pay-TV and video news network Euronews through his Media Globe Holdings. He also developed a luxury resort called Silversands on the Caribbean island of Grenada. Naguib Sawiris’s net worth is $3.2 Billion.
3. Majid Al Futtaim ( Net worth: $3.6 Billion)
Majid Al Futtaim founded Majid Al Futtaim Holding, known formerly as MAF, in 1992. MAF owns 13 hotels and 26 malls, including the Mall of the Emirates in Dubai and the Mall of Egypt in Cairo. It also has the exclusive license to operate hypermarkets for French company Carrefour across the Middle East,
North Africa and Central Asia. His son Tariq sits on the board while non-family members manage the conglomerate, which publishes its revenues and profits annually. The group had $9.4 billion in revenue in 2018 but registered a slight loss because of a market downturn. Majid Al Futtaim’s net worth is $3.6 Billion.
2. Issad Rebrab ( Net worth: $4.8 Billion)
Issad Rebrab is the founder and CEO of Cevital, Algeria’s largest privately-held company. Cevital owns one of the largest sugar refineries in the world, with the ability to produce over 2 million tons a year. In addition, Cevital owns European businesses, including French home appliances manufacturer Groupe Brandt,
an Italian steel mill and a German water purification company. After serving eight months in jail on corruption charges, Rebrab was released on January 1, 2020. He denies any wrongdoing. Issad Rebrab’s net worth is $4.8 Billion.
1. Nassef Sawiris ( Net worth: $8.3 Billion)
Nassef Sawiris is an investor and a scion of Egypt’s wealthiest family. His most valuable asset is a nearly 6% stake in sportswear maker Adidas. In December 2020, he acquired a 5% stake in New York-listed firm Madison Square Garden Sports, owner of the NBA Knicks and the NHL Rangers teams.
He runs OCI, one of the world’s largest nitrogen fertilizer producers, with plants in Texas and Iowa; it trades on the Euronext Amsterdam exchange. Orascom Construction, an engineering and building firm, trades the Cairo exchange and Nasdaq Dubai. Nassef Sawiris’s net worth is $8.3 Billion.
This article first appeared On Algerian Gazette