In Forbes’ list of the world’s wealthiest businessmen, published in March 2010, Mohamed Bin Issa Al Jaber just made it into the top 100 with a personal fortune of $7.5bn. The third richest man in Saudi Arabia, Al Jaber’s holding group company — MBI International — has a swathe of interests, although it has recently been focusing on the hotel segment.
MBI International 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 with offices in the US and UK. JJW currently owns and manages 75 hotels and resorts in France, Austria, the UK, Portugal and Egypt.
An active philanthropist, Al Jaber has donated to a variety of charities over the years. He is the founding sponsor of the London Middle East Institute at the UK-based School of Oriental and African Studies, and has donated generously to a new building at the Jeddah-based Dar El Hekmah College, a women’s arts college.
He has also been a promoter of Arab-Israeli reconciliation, and is active in the Olive Tree Educational Trust, which is based at City University in London.