3 Kuwaitis Among The World's 50 Richest Arabs 2016
Category: Kuwait Local News
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The 12th edition of the Arabian Business Rich List for the world's 50 Richest Arabs contain three Kuwaitis where Saudi Arabia’s HRH Prince Alwaleed has maintained his top position for yet another year. Rising to second place this year is the world’s richest banker, Joseph Safra, while the secretive Olayan family are down in third.

According to the list, Kuwait’s Al Kharafi family with an annual turnover of $5bn tops the list in 10th spot. The total wealth is estimated as $7bn. The Kharafi Group has operations in 25 countries around the world, from Senegal to Botswana to Kazakhstan and the Maldives, and has more than 120,000 employees. 


The Bukhamseen family with a total estimated wealth of 6bn US$ is on the 11th spot in the list. Bukhamseen Holding initially involved in trade, real estate and construction, now spread into financial investment and banking, hospitality, travel and tourism, industrial production, media, and consultancy services in urban planning, civil engineering and major development projects in the country. 

The Alghanim family is the third Kuwait based Arab in the list with a total estimated wealth of 3bn. Alghanim Industries now employs over 14,000 people across 30 businesses and is present in 40 countries across the Middle East, Eastern Europe and Asia. 

The total wealth of the 50 individuals and families ranked as the Arab world’s richest has fallen by 9 percent over the course of the last year — and virtually no-one remains unscathed.

 

SOURCE : IIK

18 Jan, 2016 1 3105
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