Industry: Real Estate
Company: MBI International Group
Country: Saudi Arabia
Wealth: 12 Billion
Mohamed Bin Issa Al Jaber is the founder, chairman & CEO of MBI International, a group of companies that today holds an asset value of around $12bn and boasts operations in Europe, the Middle East and the US.
It includes real estate giant Jadawel International, JJW Hotels & Resorts, and the AJWA Group, one of the largest food companies in the Middle East. It also incorporates Continentoil, an international oilfield services and petroleum resource management company.
Al Jaber's hotel hunt began back in 1986 when he acquired a major resort in southern Portugal, which was to become the most exclusive golf resort of the Algarve. The acquisition of four hotels in France followed in 1988.
The Hotels Group has come a long way over the last 20 years and includes landmark properties such as the uber cool La Tremoille Hotel and the famous Hotel Balzac, both in central Paris, star golf resorts such as San Lorenzo in the Algarve and the very traditional Grand Hotel Wien in Vienna, Austria.
In March 2010, the Group opened the Lakes hotel and spa on Lake Wörthersee in the town of town of Pörtschach with stunning views of Austria’s southern Alps.
In the first quarter of 2011, the group will be announcing a massive luxury hotel acquisition with properties in three major European cities.
Al Jaber is also well known for his philanthropy. He would undoubtedly be far richer but for the cash he has given to various charities over the years; Al Jaber has funded scholarship programmes at some of the world's finest educational institutions through his own MBI Al Jaber Foundation - and the alumni family now extends beyond 1000. He is also the founder of the London Middle East Institute at London University.