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Hussain Sajwani is both the founder and CEO of Damac Holding, the Middle East's largest private sector luxury property developer. Sajwani started his career in the oil and gas industry, but in his heart, he was an entrepreneur. He left his cushy job after two years, and founded a conglomerate whose activities encompass property development, insurance, manufacturing, education, securities, investment and commercial trading. Damac Holding operates the largest catering company in the Middle East, the largest privately-held property firm in the Middle East, and is one of the leading insurance providers in Bahrain.
The company is mostly recognised for its luxury properties. Having taken full advantage of the GCC property boom, Damac has established offices in Abu Dhabi, Kuwait, Qatar, Oman, Iran, the UK, Ireland, Italy, Russia, Jordan, Lebanon, KSA and Qatar, and has operations in numerous countries including Saudi Arabia, Algeria, Jordan, Syria, Azerbaijan, Turkmenistan, and Bosnia-Herzegovina.
Damac, led by a relentless Sajwani, has not lost pace. Just last week, the real estate mogul said he would plow US$5bn into India. In last year's rich list, we reported that the company was contemplating an IPO by 2009 when Damac expected to have a portfolio of projects worth US$13.6bn as opposed to the US$4bn it had at the end of 2006. Last week, Sajwani has made a slight revision to the plans.
The chairman still expects to go public in 2009, but he expects his portfolio to be worth US$45bn. There is no doubt that Sajwani will continue to rise on this list in the future.
Posted by T.M.KABEER, doha, Qatar on 2 December 2007 at 10:00 UAE time
Thanks for this wonderful information.
Posted by Mohammad Osman, Riyadh, Saudi Arabia on 2 December 2007 at 09:00 UAE time
That is really great to see so many billionars here in the Middle East even though the world believes the Middle East is still backwarded in terms of development. I hope this money will do something good for the people, especially the Palestians who have several billionaires of their own.
The company is mostly recognised for its luxury properties. Having taken full advantage of the GCC property boom, Damac has established offices in Abu Dhabi, Kuwait, Qatar, Oman, Iran, the UK, Ireland, Italy, Russia, Jordan, Lebanon, KSA and Qatar, and has operations in numerous countries including Saudi Arabia, Algeria, Jordan, Syria, Azerbaijan, Turkmenistan, and Bosnia-Herzegovina.
Damac, led by a relentless Sajwani, has not lost pace. Just last week, the real estate mogul said he would plow US$5bn into India. In last year's rich list, we reported that the company was contemplating an IPO by 2009 when Damac expected to have a portfolio of projects worth US$13.6bn as opposed to the US$4bn it had at the end of 2006. Last week, Sajwani has made a slight revision to the plans.
The chairman still expects to go public in 2009, but he expects his portfolio to be worth US$45bn. There is no doubt that Sajwani will continue to rise on this list in the future.
Distribution of billionaires by Residence
Click on the regions of the map below to indicate residence of Rich list entries
billionairs in the maghreb
Posted by nadia filali, amsterdam, netherlands on 19 August 2008 at 23:18 UAE time
I agree with what mustapha from london said, there are at least 5 multibillionairs in morocco not to mention the rising stars in the real estate market, only god knows how much profit they are making with their mega projects each year.
Rising star Mustapha Chihabi ( 29yrs still ) owner of various real estate projects in north morocco and spain.
and then you've got the Yna holding controlled by mr miloud chaabi himself...Sefriou of the Doha company etc.
Posted by nadia filali, amsterdam, netherlands on 19 August 2008 at 23:18 UAE time
I agree with what mustapha from london said, there are at least 5 multibillionairs in morocco not to mention the rising stars in the real estate market, only god knows how much profit they are making with their mega projects each year.
Rising star Mustapha Chihabi ( 29yrs still ) owner of various real estate projects in north morocco and spain.
and then you've got the Yna holding controlled by mr miloud chaabi himself...Sefriou of the Doha company etc.
Inconsistencies
Posted by Nassar on 6 August 2008 at 16:47 UAE time
I don't see why some individuals are placed as individual business people, whilst others are taken as a family.
Why is Nasser Al Khrafi taken alone, why isn't his family taken altogether ? they are after all they are a family well engraved in business.
Also i have seen many lists where the Harriri family is listed as Saudi, although they hold dual citizenship, the fact that they made their fortune in Saudi Arabia and the fact that most of their wealth is based and managed in Saudi Arabia should at least warrant a mention that they are also Saudi.
Finally, the primary industries section is at best flawed.
Posted by Nassar on 6 August 2008 at 16:47 UAE time
I don't see why some individuals are placed as individual business people, whilst others are taken as a family.
Why is Nasser Al Khrafi taken alone, why isn't his family taken altogether ? they are after all they are a family well engraved in business.
Also i have seen many lists where the Harriri family is listed as Saudi, although they hold dual citizenship, the fact that they made their fortune in Saudi Arabia and the fact that most of their wealth is based and managed in Saudi Arabia should at least warrant a mention that they are also Saudi.
Finally, the primary industries section is at best flawed.
good?
Posted by Sam Mardini on 1 August 2008 at 15:57 UAE time
I tend to agree with Pierre.. The money is no good if it is not invested in infrastructure and R&D. When will we catch up with the rest of the world...
Posted by Sam Mardini on 1 August 2008 at 15:57 UAE time
I tend to agree with Pierre.. The money is no good if it is not invested in infrastructure and R&D. When will we catch up with the rest of the world...
no billionaires in Morocco?
Posted by mustapha, london, uk on 16 July 2008 at 21:12 UAE time
There are minimum 5 Moroccan businessmen with minimum 1 billion euro (Miloud Chaabi, Karim elamrani,Benjelloun, Aziz Akhenach etc...) Mr Chaabi is known to be a multi billionaire.
Posted by mustapha, london, uk on 16 July 2008 at 21:12 UAE time
There are minimum 5 Moroccan businessmen with minimum 1 billion euro (Miloud Chaabi, Karim elamrani,Benjelloun, Aziz Akhenach etc...) Mr Chaabi is known to be a multi billionaire.
crude oil as economic weapon
Posted by andy, san carlos, philippines on 10 July 2008 at 17:15 UAE time
My perception of this speculative trading of crude oil thus causing artificial and abnormal increases of crude oil prices led by the US and its conspirators is to counter the fast growing economy in Asia specifically China.
With China's surplus trillions of dollars, it will win this unscrupulous and unfair economic warfare.
It's too bad that the Philippines and other small developing countries are greatly affected just like the Asian currency crisis few years back.
Posted by andy, san carlos, philippines on 10 July 2008 at 17:15 UAE time
My perception of this speculative trading of crude oil thus causing artificial and abnormal increases of crude oil prices led by the US and its conspirators is to counter the fast growing economy in Asia specifically China.
With China's surplus trillions of dollars, it will win this unscrupulous and unfair economic warfare.
It's too bad that the Philippines and other small developing countries are greatly affected just like the Asian currency crisis few years back.
WATS THISS
Posted by FMS, dubai, U.A.E on 30 June 2008 at 02:29 UAE time
There are many more multi billionare Arabs not listed in this list.
Posted by FMS, dubai, U.A.E on 30 June 2008 at 02:29 UAE time
There are many more multi billionare Arabs not listed in this list.
Muslims today
Posted by Imran on 9 May 2008 at 21:37 UAE time
I pity those rich dudes as their money is for no good to Muslim ummah. Today and in the past Muslim nation throughout the world is going down and down. We as muslims have the biggest power in the world in the shape of oil but still we are not powerful in the world only because they only need money and cares nothing about ummah. They can dictate their terms for Muslim interest but they won't because they have their personal interest before everything in the world. I request all rich Muslims out there to think about it at least once.
Posted by Imran on 9 May 2008 at 21:37 UAE time
I pity those rich dudes as their money is for no good to Muslim ummah. Today and in the past Muslim nation throughout the world is going down and down. We as muslims have the biggest power in the world in the shape of oil but still we are not powerful in the world only because they only need money and cares nothing about ummah. They can dictate their terms for Muslim interest but they won't because they have their personal interest before everything in the world. I request all rich Muslims out there to think about it at least once.
Lots of Luck
Posted by Yasir, Damascus, Syria on 22 April 2008 at 12:22 UAE time
Good Luck for all those Arabs, really great to know that there are arabs who are wealthy and can stand up with world's famous personnels...
We shall be in this list for soon...
Good Luck
Posted by Yasir, Damascus, Syria on 22 April 2008 at 12:22 UAE time
Good Luck for all those Arabs, really great to know that there are arabs who are wealthy and can stand up with world's famous personnels...
We shall be in this list for soon...
Good Luck
Bahrain not Iran
Posted by Mohammed AlBastaki, Dubai, UAE on 11 February 2008 at 20:27 UAE time
Mohammed Mahdi Al-Tajir, the subject of this article, is a UAE national originally from Bahrain and not Iran.
Posted by Mohammed AlBastaki, Dubai, UAE on 11 February 2008 at 20:27 UAE time
Mohammed Mahdi Al-Tajir, the subject of this article, is a UAE national originally from Bahrain and not Iran.
Armenian Businessmen?
Posted by Murad, Beverly Hills, United States on 6 February 2008 at 05:42 UAE time
They should make a list of all Middle Eastern business men. I'd love to see how many Armenians are on it. Kirk Krikorian of course being #1 - not to mention 13th in the world overall.
Posted by Murad, Beverly Hills, United States on 6 February 2008 at 05:42 UAE time
They should make a list of all Middle Eastern business men. I'd love to see how many Armenians are on it. Kirk Krikorian of course being #1 - not to mention 13th in the world overall.
Always remember the poor
Posted by Hamidu Ladan, Lagos, Nigeria on 23 January 2008 at 21:02 UAE time
I hope the family of Hariri would use some percent (%) of the money to help and assist the poor, especially those that suffer during Hezbulla/Israel fight.
Posted by Hamidu Ladan, Lagos, Nigeria on 23 January 2008 at 21:02 UAE time
I hope the family of Hariri would use some percent (%) of the money to help and assist the poor, especially those that suffer during Hezbulla/Israel fight.
Show all comments
Wealth and how it should be spent
Posted by Metalfan, Al - Khobar, Saudi Arabia on 14 January 2008 at 21:52 UAE time
Saudi Arabia i believe is one of the worlds slowest in expanding its horizons. Here, we have not moved forward like Dubai has, with large buildings and masses of money pouring in for valuable necessities. In Saudi Arabia, there isn't a single movie theatre. Where is all the money going if not for the good of its people?
Posted by Metalfan, Al - Khobar, Saudi Arabia on 14 January 2008 at 21:52 UAE time
Saudi Arabia i believe is one of the worlds slowest in expanding its horizons. Here, we have not moved forward like Dubai has, with large buildings and masses of money pouring in for valuable necessities. In Saudi Arabia, there isn't a single movie theatre. Where is all the money going if not for the good of its people?
The world 50 wealthiest Arabs
Posted by Pierre Chamas, Dubai, United Arab Emirates on 4 January 2008 at 09:16 UAE time
Arab wealth has been developed though the consecutive oil booms. I urge our wealthiest Arabs to invest in research and help developing our Arab manpower. This will generate long-term wealth.
Posted by Pierre Chamas, Dubai, United Arab Emirates on 4 January 2008 at 09:16 UAE time
Arab wealth has been developed though the consecutive oil booms. I urge our wealthiest Arabs to invest in research and help developing our Arab manpower. This will generate long-term wealth.
Money for R&D
Posted by R. Ben Amer, Al Ain & Dubai, UAE on 2 January 2008 at 15:47 UAE time
I think rich Arabs should invest money on Research and Developments projects in areas of their interest. Such projects will not only be very beneficial to all societies, and may also return them their investment. Good for all. Ramadan Ben Amer, General Manager, eFORS (Research Consultancy), UAE University
Posted by R. Ben Amer, Al Ain & Dubai, UAE on 2 January 2008 at 15:47 UAE time
I think rich Arabs should invest money on Research and Developments projects in areas of their interest. Such projects will not only be very beneficial to all societies, and may also return them their investment. Good for all. Ramadan Ben Amer, General Manager, eFORS (Research Consultancy), UAE University
Al Ayoubi
Posted by Majid Al Ulayan, London, UK on 31 December 2007 at 10:14 UAE time
I would like to thank Arabian Business for this very compiling report; I also agree with a comment written earlier that the Iraqi Al Ayoubi family is among the wealthiest Arabs living here in London.
MA Al Ulayan.
Posted by Majid Al Ulayan, London, UK on 31 December 2007 at 10:14 UAE time
I would like to thank Arabian Business for this very compiling report; I also agree with a comment written earlier that the Iraqi Al Ayoubi family is among the wealthiest Arabs living here in London.
MA Al Ulayan.
Good, but...
Posted by Kwetey Nikoe Doe, Accra, Ghana on 29 December 2007 at 02:29 UAE time
what matters is what you do with that which you have.
Posted by Kwetey Nikoe Doe, Accra, Ghana on 29 December 2007 at 02:29 UAE time
what matters is what you do with that which you have.
THE RICH ALSO CRY
Posted by Emmanuel I. M., Lagos, Nigeria on 28 December 2007 at 10:51 UAE time
I want others to know that the people on this list also cry.
Posted by Emmanuel I. M., Lagos, Nigeria on 28 December 2007 at 10:51 UAE time
I want others to know that the people on this list also cry.
Share the Wealth
Posted by Mohamed, Gaithersburg, USA on 28 December 2007 at 08:07 UAE time
To all my Arab billionaires share the wealth that Allah has "loaned" you. I will build a Masjid and feed the needy after each Friday prayer in Sierra Leone, west Africa. Please make this possible: build a Masjid and feed the needy each week. Thank you.
Posted by Mohamed, Gaithersburg, USA on 28 December 2007 at 08:07 UAE time
To all my Arab billionaires share the wealth that Allah has "loaned" you. I will build a Masjid and feed the needy after each Friday prayer in Sierra Leone, west Africa. Please make this possible: build a Masjid and feed the needy each week. Thank you.
Rich List
Posted by Dr Audu, Bala Mohammed, Damaturu, Nigeria on 27 December 2007 at 18:06 UAE time
May Allah bless their wealth - and that they they extend their richness to others through Zakat.
Posted by Dr Audu, Bala Mohammed, Damaturu, Nigeria on 27 December 2007 at 18:06 UAE time
May Allah bless their wealth - and that they they extend their richness to others through Zakat.
The Rich will account for their weelth before their creator
Posted by Samuel Anobah, Accra, Ghana on 27 December 2007 at 12:41 UAE time
I must say that it is our creator who gives us the power to make wealth.
So far as the world continues to exist, there will be the poor and the rich.
What is important is that those who are well-off must note that they also have the responsibility of blessing those who are less fortunate in other parts of the world.
After all how much can one eat?
Posted by Samuel Anobah, Accra, Ghana on 27 December 2007 at 12:41 UAE time
I must say that it is our creator who gives us the power to make wealth.
So far as the world continues to exist, there will be the poor and the rich.
What is important is that those who are well-off must note that they also have the responsibility of blessing those who are less fortunate in other parts of the world.
After all how much can one eat?
Malaysia's billionaires
Posted by Billionairewatch, KL, Malaysia on 21 December 2007 at 10:33 UAE time
You can read about Malaysia's billionaires here
http://escapefromindia.wordpress.com/
Posted by Billionairewatch, KL, Malaysia on 21 December 2007 at 10:33 UAE time
You can read about Malaysia's billionaires here
http://escapefromindia.wordpress.com/
mmm rich
Posted by malik, riyadh, saudia arabia on 19 December 2007 at 21:32 UAE time
I know all the rich families in Dubai , like Al Nabooda, Al Futtaim, Galadari, Al Muhairi, Al Kharabash, Al Ahafar and Al Tayer. I met many of them in my life when I was in Dubai. Arabian Business should take each one's interview and publish in the world richest book. It would not only be informative, but of course everyone has dream to be a millionaire, but in this world whatever is written is your destiny. It will come to you if you work hard, just try and try success will come. If I were to have a lot of money I would open my 5* hotel & limousine and strech limousine company because for the Middle East Dubai is the gate of trade, investors, actors, commerce, finance, tourism. When it happens I will have a party in the Burj al Arab and invite all my true friends, my parents and my few relatives and I would especially invite a famous contracter from Jumeirah whom i still like and respect a lot the way I respect my parents... And all the new hotel investors, and Kareena Kapoor & few guest from the UK & KSA to join my party. The way to be a rich is built your own dream.
Posted by malik, riyadh, saudia arabia on 19 December 2007 at 21:32 UAE time
I know all the rich families in Dubai , like Al Nabooda, Al Futtaim, Galadari, Al Muhairi, Al Kharabash, Al Ahafar and Al Tayer. I met many of them in my life when I was in Dubai. Arabian Business should take each one's interview and publish in the world richest book. It would not only be informative, but of course everyone has dream to be a millionaire, but in this world whatever is written is your destiny. It will come to you if you work hard, just try and try success will come. If I were to have a lot of money I would open my 5* hotel & limousine and strech limousine company because for the Middle East Dubai is the gate of trade, investors, actors, commerce, finance, tourism. When it happens I will have a party in the Burj al Arab and invite all my true friends, my parents and my few relatives and I would especially invite a famous contracter from Jumeirah whom i still like and respect a lot the way I respect my parents... And all the new hotel investors, and Kareena Kapoor & few guest from the UK & KSA to join my party. The way to be a rich is built your own dream.
Morocco is an Arab country too
Posted by Othman, Agadir, Morocco on 18 December 2007 at 19:31 UAE time
Five people at least in Morocco make it in this list, with a minimum 1 billion $. These are Miloud Chaabi, Anas Sefrioui, Aziz Akhannouch, Othman Benjelloun, Karim Lamrani. Why aren't they cited?
Posted by Othman, Agadir, Morocco on 18 December 2007 at 19:31 UAE time
Five people at least in Morocco make it in this list, with a minimum 1 billion $. These are Miloud Chaabi, Anas Sefrioui, Aziz Akhannouch, Othman Benjelloun, Karim Lamrani. Why aren't they cited?
Venturing Investment Opportunity in Malaysia
Posted by Rosley Omar Al-Ahmadi, Pasir Mas, Malaysia on 18 December 2007 at 18:57 UAE time
Malaysia is a multi racial society and practice moderate Islamic values.Government provides its best facilities for Arab Investors to venture and explore business opportunity.The benefit is tremendous. Foreign Direct Investment(FDI) will later be disbursed to the ummah. Malaysia is the perfect choice.I personally willing to assist any Arab Investors to come to this lovely country with the holistic approach in mind.
Posted by Rosley Omar Al-Ahmadi, Pasir Mas, Malaysia on 18 December 2007 at 18:57 UAE time
Malaysia is a multi racial society and practice moderate Islamic values.Government provides its best facilities for Arab Investors to venture and explore business opportunity.The benefit is tremendous. Foreign Direct Investment(FDI) will later be disbursed to the ummah. Malaysia is the perfect choice.I personally willing to assist any Arab Investors to come to this lovely country with the holistic approach in mind.
real estate
Posted by ahmed, jeddah, kingdom of saudi arabia on 18 December 2007 at 18:02 UAE time
A great and exhaustive site for reference!
Posted by ahmed, jeddah, kingdom of saudi arabia on 18 December 2007 at 18:02 UAE time
A great and exhaustive site for reference!
worlds richest?
Posted by philip, shj, United Arab Emirates on 18 December 2007 at 10:21 UAE time
A comparison with the world's richest should be made to get a clear idea of how & where the rich Arabs stand. It would encourage them to actually go further.
Editor's Reply: You can find the list of the world's richest business people - with their wealth and where they are based - within the Rich List special feature.
Posted by philip, shj, United Arab Emirates on 18 December 2007 at 10:21 UAE time
A comparison with the world's richest should be made to get a clear idea of how & where the rich Arabs stand. It would encourage them to actually go further.
Editor's Reply: You can find the list of the world's richest business people - with their wealth and where they are based - within the Rich List special feature.
The Rich List 2007: We live in poverty
Posted by shahmeer, Dammam, Saudi arabia on 15 December 2007 at 19:34 UAE time
I see so many rich Arabs but we have so much poverty as well as social problems in Muslim countries. Arab or non Arab.
The Saudis are among the worst cases spending and showing off their wealth on things like cars when Muslim children in Africa, South Asia, Iraq and Afghanistan are dying of hunger.
Are we growing up uneducated?
Here are some examples:
* The average Palestinian earns less than a $1 a day.
* 500,000 children die of diseases in Pakistan every year and you still want to keep your money for yourselves?
Posted by shahmeer, Dammam, Saudi arabia on 15 December 2007 at 19:34 UAE time
I see so many rich Arabs but we have so much poverty as well as social problems in Muslim countries. Arab or non Arab.
The Saudis are among the worst cases spending and showing off their wealth on things like cars when Muslim children in Africa, South Asia, Iraq and Afghanistan are dying of hunger.
Are we growing up uneducated?
Here are some examples:
* The average Palestinian earns less than a $1 a day.
* 500,000 children die of diseases in Pakistan every year and you still want to keep your money for yourselves?
Rich List: The wealthy are blessed
Posted by Rammohan M. Rai, Doha, Qatar on 13 December 2007 at 11:52 UAE time
The wealthy are special people, who are also blessed with the skill to administrate wealth wisely, for the better of their flock and humanity as a whole, thereby contributing to making this beautiful world a better place for all its inhabitants.
Posted by Rammohan M. Rai, Doha, Qatar on 13 December 2007 at 11:52 UAE time
The wealthy are special people, who are also blessed with the skill to administrate wealth wisely, for the better of their flock and humanity as a whole, thereby contributing to making this beautiful world a better place for all its inhabitants.
Rich List: I'm happy for them all
Posted by Shaun Louie Sabico, Riyadh, Saudi Arabia on 13 December 2007 at 10:38 UAE time
As an expatriate trying to make a decent living in Riyadh, I can't help but admire the Arab people who have made it onto this year's list.
I may not be an Arab, but the list gives inspiration to ordinary people like me who serve Arabs for their welfare, while at the same time making my own productive contribution to the global society.
I am happy for them. I just hope their wealth is enough to influence peace in the region they belong.
Posted by Shaun Louie Sabico, Riyadh, Saudi Arabia on 13 December 2007 at 10:38 UAE time
As an expatriate trying to make a decent living in Riyadh, I can't help but admire the Arab people who have made it onto this year's list.
I may not be an Arab, but the list gives inspiration to ordinary people like me who serve Arabs for their welfare, while at the same time making my own productive contribution to the global society.
I am happy for them. I just hope their wealth is enough to influence peace in the region they belong.
Rich List: The Al-Ayoubi family
Posted by Nazar Al Ani, London, UK on 12 December 2007 at 10:46 UAE time
Please note the Al Ayoubi family from Iraq are among the richest families in the Arab World. They mainly reside in the UK with property interests amounting to well over 2.5bn Sterling, not to mention ownership of a large amount of properties both in Dubai and Amman.
They are a very well known Iraqi family, however they like to keep a low-low-profile following a strict family tradition that is influenced from the top down.
Their wealth in both heritage and culture is very much acknowledged in Iraq from very early on, with many of their family members occupying high ranking positions throughout modern Iraq.
Posted by Nazar Al Ani, London, UK on 12 December 2007 at 10:46 UAE time
Please note the Al Ayoubi family from Iraq are among the richest families in the Arab World. They mainly reside in the UK with property interests amounting to well over 2.5bn Sterling, not to mention ownership of a large amount of properties both in Dubai and Amman.
They are a very well known Iraqi family, however they like to keep a low-low-profile following a strict family tradition that is influenced from the top down.
Their wealth in both heritage and culture is very much acknowledged in Iraq from very early on, with many of their family members occupying high ranking positions throughout modern Iraq.
Rich List: Has Habtoor gone missing?
Posted by NARESH MATHUR, Dubai, UAE on 11 December 2007 at 06:42 UAE time
I have scanned through the Rich List several times and must have missed something. Where are the Al Naboodah and Al Habtoor families? I can't believe that they are not in the top 50.
Posted by NARESH MATHUR, Dubai, UAE on 11 December 2007 at 06:42 UAE time
I have scanned through the Rich List several times and must have missed something. Where are the Al Naboodah and Al Habtoor families? I can't believe that they are not in the top 50.
worth of Mr. Hisham Talaat Mustafa is inaccurate information . it is $1.5billion
Posted by Jihad Sawaftah, Cairo, Egypt on 9 December 2007 at 13:21 UAE time
Mr. Mostafa's worth is not $800million, actually it is estimated at $1.5billion. correction and reranking is required please. for more information please contact me on my email
Posted by Jihad Sawaftah, Cairo, Egypt on 9 December 2007 at 13:21 UAE time
Mr. Mostafa's worth is not $800million, actually it is estimated at $1.5billion. correction and reranking is required please. for more information please contact me on my email
Reguest .
Posted by moutabar, Tajikistan, Tajikistan on 9 December 2007 at 12:30 UAE time
Really I’m really happy for them and respect them, most richest people in the word the are Muslim.
I’m single mother who grow up alone the children ,alhamdullilah ,we are not rich but tank’s God.
I have a big request for riches gentlemen’s if the will hear and can hear: I need support for a study of my son ,so if any of you can help I ‘ll be aperesheited .
My Best regards Moutabar.
Posted by moutabar, Tajikistan, Tajikistan on 9 December 2007 at 12:30 UAE time
Really I’m really happy for them and respect them, most richest people in the word the are Muslim.
I’m single mother who grow up alone the children ,alhamdullilah ,we are not rich but tank’s God.
I have a big request for riches gentlemen’s if the will hear and can hear: I need support for a study of my son ,so if any of you can help I ‘ll be aperesheited .
My Best regards Moutabar.
Rich List 2007 - Congratulations but what about the rest of the region?
Posted by Ammar, Belfast, UK on 8 December 2007 at 21:45 UAE time
I want to congratulate everyone that has appeared on this year's Arabian Business Rich List.
I'm positive, however that these people's fortunes are significantly less than the ruling classes in their countries. And at the same time you find shocking levels of poverty and illiteracy in the Middle East. The divide is getting bigger every year from what I can see from your list.
And what about our research and development, what to do we add to this world in terms of science, art, literature and culture ....not a great deal.
Perhaps they are not so rich after all?
Posted by Ammar, Belfast, UK on 8 December 2007 at 21:45 UAE time
I want to congratulate everyone that has appeared on this year's Arabian Business Rich List.
I'm positive, however that these people's fortunes are significantly less than the ruling classes in their countries. And at the same time you find shocking levels of poverty and illiteracy in the Middle East. The divide is getting bigger every year from what I can see from your list.
And what about our research and development, what to do we add to this world in terms of science, art, literature and culture ....not a great deal.
Perhaps they are not so rich after all?
We've got the money, now let's do the real work
Posted by Nadine Toukan, Jordan on 8 December 2007 at 15:45 UAE time
With so much money in the region and so many good people attached to it, it should be easy for us to give education a total makeover from the inside and out.
We should also find it easy to upgrade the living quality of the under served population in our countries, and in (refugee) camps. In Jordan, there is so much work to do and it's obvious we have no excuse not to do it and get it done right.
Our schools should be safe, vibrant, inspiring palaces for every single student. Our curriculum should be progressive, culturally relevant and constantly upgraded. Every single person should have a decent environment to live in, with modern working facilities, a good quality of life, food on the table, medical insurance, access to information and education and so on. So my question is: if we have the money, and the people, what's holding us back from transforming our countries today?
Crossing through west and east Amman, Karak, Wadi Musa, and so on I wonder and I worry. And don't know the answer to: why residents of the Gaza Camp in Jarash are still living alongside open drains? Surely we can do better right now, today!
So many other questions go through my mind everyday but this one I ask because it comes to my mind when looking at the construction related wealth on the list.
Posted by Nadine Toukan, Jordan on 8 December 2007 at 15:45 UAE time
With so much money in the region and so many good people attached to it, it should be easy for us to give education a total makeover from the inside and out.
We should also find it easy to upgrade the living quality of the under served population in our countries, and in (refugee) camps. In Jordan, there is so much work to do and it's obvious we have no excuse not to do it and get it done right.
Our schools should be safe, vibrant, inspiring palaces for every single student. Our curriculum should be progressive, culturally relevant and constantly upgraded. Every single person should have a decent environment to live in, with modern working facilities, a good quality of life, food on the table, medical insurance, access to information and education and so on. So my question is: if we have the money, and the people, what's holding us back from transforming our countries today?
Crossing through west and east Amman, Karak, Wadi Musa, and so on I wonder and I worry. And don't know the answer to: why residents of the Gaza Camp in Jarash are still living alongside open drains? Surely we can do better right now, today!
So many other questions go through my mind everyday but this one I ask because it comes to my mind when looking at the construction related wealth on the list.
Sheikh Mohammed Alamudi nominated for next year's Rich List
Posted by Abdunaser, Khobar, Saudi Arabia on 8 December 2007 at 11:14 UAE time
Sheikh Mohammaed Alamudi is one of Ethiopia's richest men and he has done a great job for the Ethiopian economy. He should be on your list next year.
Posted by Abdunaser, Khobar, Saudi Arabia on 8 December 2007 at 11:14 UAE time
Sheikh Mohammaed Alamudi is one of Ethiopia's richest men and he has done a great job for the Ethiopian economy. He should be on your list next year.
Rich List 2007: You forgot the Habtoor Family
Posted by Irshad, Dubai, UAE on 8 December 2007 at 10:12 UAE time
Khalaf Al Habtoor
Age: 57
Fortune: Self-made
Source: Construction
Net Worth: US$2.5bn
Country of citizenship: United Arab Emirates
Residence: Dubai, United Arab Emirates, Middle East & Africa
Industry: Engineering/Construction
Marital Status: married, six children
Posted by Irshad, Dubai, UAE on 8 December 2007 at 10:12 UAE time
Khalaf Al Habtoor
Age: 57
Fortune: Self-made
Source: Construction
Net Worth: US$2.5bn
Country of citizenship: United Arab Emirates
Residence: Dubai, United Arab Emirates, Middle East & Africa
Industry: Engineering/Construction
Marital Status: married, six children
what an honor
Posted by Bassam, beirut, lebanon on 6 December 2007 at 16:26 UAE time
What an honor to have Rafiq Al Hairi in the 3rd place , even Prince Walid bin Talal's grandfather is Lebanese :D We are great people, greatest in the Arab world!
Posted by Bassam, beirut, lebanon on 6 December 2007 at 16:26 UAE time
What an honor to have Rafiq Al Hairi in the 3rd place , even Prince Walid bin Talal's grandfather is Lebanese :D We are great people, greatest in the Arab world!
Unemployment and bad economies...
Posted by Run-away Arab on 5 December 2007 at 19:27 UAE time
In my opinion; the majority of such wealth is based on concessions granted by the rulers to such families inorder to help build new economies. As the wealth grew, so did the influence of such families that still maintain strong and lasting ties with the rulers. This created a huge rift between society levels, and made them even richer. A question that I have is: why is there unemployment and low salaries in such booming economies??? Another: why is it so hard to find a job in such countries??? Another: why are qualified Arabs running out of the Arab world???
Again; congratulations to new and old(er) money...!
Posted by Run-away Arab on 5 December 2007 at 19:27 UAE time
In my opinion; the majority of such wealth is based on concessions granted by the rulers to such families inorder to help build new economies. As the wealth grew, so did the influence of such families that still maintain strong and lasting ties with the rulers. This created a huge rift between society levels, and made them even richer. A question that I have is: why is there unemployment and low salaries in such booming economies??? Another: why is it so hard to find a job in such countries??? Another: why are qualified Arabs running out of the Arab world???
Again; congratulations to new and old(er) money...!
Rich list
Posted by Christophe, Dubai, UAE on 4 December 2007 at 09:27 UAE time
I think we need to take in consideration that for many countries, the Royal Familes (Al Thani, Al Nahyan, Al Maktoum, Al Saud etc.) are the wealthiest families and individuals in the Arab World. In many cases however, it is very difficult to determine their wealth and i doubt if these Royals would agree their financial status to be printed in the newspaper. I'm quite confident that many Arab Royals are much richer then the business men mentioned in the list...
Posted by Christophe, Dubai, UAE on 4 December 2007 at 09:27 UAE time
I think we need to take in consideration that for many countries, the Royal Familes (Al Thani, Al Nahyan, Al Maktoum, Al Saud etc.) are the wealthiest families and individuals in the Arab World. In many cases however, it is very difficult to determine their wealth and i doubt if these Royals would agree their financial status to be printed in the newspaper. I'm quite confident that many Arab Royals are much richer then the business men mentioned in the list...
What about Moroccans?
Posted by Houda on 4 December 2007 at 04:35 UAE time
Is that normal that there is no Entry from Morocco in the list?
Posted by Houda on 4 December 2007 at 04:35 UAE time
Is that normal that there is no Entry from Morocco in the list?
Wealth is beyond Capital... that i agree with.
Posted by Hussain Motabagani, Khobar, Saudi Arabia on 3 December 2007 at 18:13 UAE time
i agree with T Crowe on that.
Wealth cannot be measured on capital alone.
The list should reveal that,KSA has the highest GDP and wealth of entries and we have one of the highest unemployment rates....poverty and social instability... go figure
Business men and leaders need to improve the abilities or develop skill to create future leaders.
The UAE provides a role model - it has the vision and now it's a reality, thanks to its unique and smart leadership that has earned the love and trust of the public and neighboring citizens.
Posted by Hussain Motabagani, Khobar, Saudi Arabia on 3 December 2007 at 18:13 UAE time
i agree with T Crowe on that.
Wealth cannot be measured on capital alone.
The list should reveal that,KSA has the highest GDP and wealth of entries and we have one of the highest unemployment rates....poverty and social instability... go figure
Business men and leaders need to improve the abilities or develop skill to create future leaders.
The UAE provides a role model - it has the vision and now it's a reality, thanks to its unique and smart leadership that has earned the love and trust of the public and neighboring citizens.
Qatar
Posted by Ian Silverstein, London, UK on 3 December 2007 at 17:49 UAE time
There doesnt appear to be any of the Al Thani family from Qatar, with this country having one of the fastest growing economies and making its mark on the Global world of commerce I am suprised ?
Posted by Ian Silverstein, London, UK on 3 December 2007 at 17:49 UAE time
There doesnt appear to be any of the Al Thani family from Qatar, with this country having one of the fastest growing economies and making its mark on the Global world of commerce I am suprised ?
The world's 50 richest arabs
Posted by linda pitt, London, UK on 3 December 2007 at 16:37 UAE time
I would like to get this special report. Do you need to be a subscriber?
Editor's reply: No, Linda. It is freely available on this site. Please go to www.arabianbusiness.com/richlist
Posted by linda pitt, London, UK on 3 December 2007 at 16:37 UAE time
I would like to get this special report. Do you need to be a subscriber?
Editor's reply: No, Linda. It is freely available on this site. Please go to www.arabianbusiness.com/richlist
Listed or not!
Posted by Ashraf, Dubai, UAE on 3 December 2007 at 15:00 UAE time
Does this list include only the businesses which are listed! I noticed all the royals are not included! Also, people like Abdullah Al-Ghurair also is not included! What about Morocco, Libya, Qatar? Surely Hamad Bin Jassim of Qatar should be on the list? I blieve that you should shed the light on how and on which basis this list was compiled!
Posted by Ashraf, Dubai, UAE on 3 December 2007 at 15:00 UAE time
Does this list include only the businesses which are listed! I noticed all the royals are not included! Also, people like Abdullah Al-Ghurair also is not included! What about Morocco, Libya, Qatar? Surely Hamad Bin Jassim of Qatar should be on the list? I blieve that you should shed the light on how and on which basis this list was compiled!
Inclusion or Exclusion
Posted by fshalan, Amman on 3 December 2007 at 14:00 UAE time
There are numerous people in the world who actually pay to have thier names included in such lists.
Many more billionares pay to have their names excluded from such lists !!
Posted by fshalan, Amman on 3 December 2007 at 14:00 UAE time
There are numerous people in the world who actually pay to have thier names included in such lists.
Many more billionares pay to have their names excluded from such lists !!
Ranking People - Net Worth
Posted by Prof Philbert, Salmiya/ Kuwait, Kuwait on 3 December 2007 at 12:00 UAE time
It is quite an accomplishment to collect verifiable data and rank the rich in the GCC. I would like to see a list of women who have made it in the Arab world as well.
Posted by Prof Philbert, Salmiya/ Kuwait, Kuwait on 3 December 2007 at 12:00 UAE time
It is quite an accomplishment to collect verifiable data and rank the rich in the GCC. I would like to see a list of women who have made it in the Arab world as well.
RE
Posted by MAHOMEDZICAR OSMAN, PEMBA, MOZAMBIQUE on 3 December 2007 at 11:00 UAE time
Being a Muslim, its a great Honor to see and analyse the list. My question to all of them is simple: How and what can they do to spread the wealth among the Muslim world - in Education, Health, Skills...etc.
Posted by MAHOMEDZICAR OSMAN, PEMBA, MOZAMBIQUE on 3 December 2007 at 11:00 UAE time
Being a Muslim, its a great Honor to see and analyse the list. My question to all of them is simple: How and what can they do to spread the wealth among the Muslim world - in Education, Health, Skills...etc.
So how did they?
Posted by Bruno Veninga, Dubai, UAE on 3 December 2007 at 09:00 UAE time
This article mentions how the Western world rich guys got their money in most cases... and it implies that the author was going to give us a hint at how the Arab richest got to their billions... but then lets us down by not actually saying anything. Top reporting going on there...
Posted by Bruno Veninga, Dubai, UAE on 3 December 2007 at 09:00 UAE time
This article mentions how the Western world rich guys got their money in most cases... and it implies that the author was going to give us a hint at how the Arab richest got to their billions... but then lets us down by not actually saying anything. Top reporting going on there...
The owner
Posted by Usama, Dubai, UAE on 3 December 2007 at 01:00 UAE time
The owner of this yacht is Prince Waleed bin Talal.
Posted by Usama, Dubai, UAE on 3 December 2007 at 01:00 UAE time
The owner of this yacht is Prince Waleed bin Talal.
Editors' note
Posted by Editor on 2 December 2007 at 21:00 UAE time
Kindly note the top 50 richest Arabs does not include royalty, but focuses on business people. This is with the exception of Prince Alwaleed of Saudi Arabia who has made his fortune from his commercial activities. Hence you will not find the ruling families of the UAE, Saudi Arabia... on this list. For more information see the article: 'The Gulf's billionaire businessmen' found under Related Stories.
Posted by Editor on 2 December 2007 at 21:00 UAE time
Kindly note the top 50 richest Arabs does not include royalty, but focuses on business people. This is with the exception of Prince Alwaleed of Saudi Arabia who has made his fortune from his commercial activities. Hence you will not find the ruling families of the UAE, Saudi Arabia... on this list. For more information see the article: 'The Gulf's billionaire businessmen' found under Related Stories.
Wealth is beyond Capital
Posted by T Crowe Semler, Riyadh, Saudi Arabia on 2 December 2007 at 19:00 UAE time
The "social construct" of wealth as it relates to how much capital one holds is "out-of-fashion". However, if we factor in a wealthly persons actions while ranking this position we might see the positions shift.The wealth of an individual can be expanded out... as it relates to creativity, problem solving, and social enlightenment. How one applies their wealth is of critical importance. Is it to generate even more wealth, for the sake of making more money? Or do they take action to help create a "better world" and empower others to follow their leadership model. The UAE's history is that of visonary leaders...
Posted by T Crowe Semler, Riyadh, Saudi Arabia on 2 December 2007 at 19:00 UAE time
The "social construct" of wealth as it relates to how much capital one holds is "out-of-fashion". However, if we factor in a wealthly persons actions while ranking this position we might see the positions shift.The wealth of an individual can be expanded out... as it relates to creativity, problem solving, and social enlightenment. How one applies their wealth is of critical importance. Is it to generate even more wealth, for the sake of making more money? Or do they take action to help create a "better world" and empower others to follow their leadership model. The UAE's history is that of visonary leaders...
Rich List
Posted by george thomas, dubai, united arab emirates on 2 December 2007 at 19:00 UAE time
In Western TV and Newspaper Features, Sheikh Mohammad Bin Rashid Al Maktoum is routinely described as "one of the world's richest men". Surprising therefore that he doesn't even make it into the top 50 richest Arabs!
Posted by george thomas, dubai, united arab emirates on 2 December 2007 at 19:00 UAE time
In Western TV and Newspaper Features, Sheikh Mohammad Bin Rashid Al Maktoum is routinely described as "one of the world's richest men". Surprising therefore that he doesn't even make it into the top 50 richest Arabs!
Ultimately flawed
Posted by M.Powers, Kuwait, Kuwait on 2 December 2007 at 16:00 UAE time
Interesting article but fundamentally flawed.
In Kuwait, for example, there are countless individuals and families who do not declare their net wealth.
Take for example family (unnamed for privacy purposes) that has a huge stake in a public bank, countless car dealerships and a huge assortment of retail outlets.
It was widely publicised that each of the children of the recently deceased inherited close to a billion dollars each. Not one of them gets a mention.
What about the Sabah rulers? Do you seriously expect us to believe that not one of them are billionaires?
Most of this information will have been publicly leaked as a PR Stunt. Example, anyone who is close to (unnamed - but on the list) will also tell you that family X have huge callotarilzed debts that has accounted for their 'public' wealth.
Interesting, but not even close to being a dependable list.
Posted by M.Powers, Kuwait, Kuwait on 2 December 2007 at 16:00 UAE time
Interesting article but fundamentally flawed.
In Kuwait, for example, there are countless individuals and families who do not declare their net wealth.
Take for example family (unnamed for privacy purposes) that has a huge stake in a public bank, countless car dealerships and a huge assortment of retail outlets.
It was widely publicised that each of the children of the recently deceased inherited close to a billion dollars each. Not one of them gets a mention.
What about the Sabah rulers? Do you seriously expect us to believe that not one of them are billionaires?
Most of this information will have been publicly leaked as a PR Stunt. Example, anyone who is close to (unnamed - but on the list) will also tell you that family X have huge callotarilzed debts that has accounted for their 'public' wealth.
Interesting, but not even close to being a dependable list.
Qatar
Posted by Murtaza R., Dubai, UAE on 2 December 2007 at 15:00 UAE time
What illusion is Dr. Qaiser under...
Wake up.
Since when did Qatar become the richest country in the Middle East.
Posted by Murtaza R., Dubai, UAE on 2 December 2007 at 15:00 UAE time
What illusion is Dr. Qaiser under...
Wake up.
Since when did Qatar become the richest country in the Middle East.
Rich List: What about the 50 poorest?
Posted by Sussex Sheikh, London, UK on 2 December 2007 at 15:00 UAE time
Simple question: What about the 50 poorest?
Posted by Sussex Sheikh, London, UK on 2 December 2007 at 15:00 UAE time
Simple question: What about the 50 poorest?
What about Jordan?
Posted by User on 2 December 2007 at 12:00 UAE time
List and figures are inaccurate. The Shomans are worth more than 2 billion and their country of residence is JORDAN. Actually all Palestinian-Jordanian and Jordanian millionnaires listed on ArabianBusiness have their businesses incorporated in Jordan, and Jordan was, still is, and will be their main source of income. We still dream of the day when Palestine will be able to accomodate large profitable businesses.
Posted by User on 2 December 2007 at 12:00 UAE time
List and figures are inaccurate. The Shomans are worth more than 2 billion and their country of residence is JORDAN. Actually all Palestinian-Jordanian and Jordanian millionnaires listed on ArabianBusiness have their businesses incorporated in Jordan, and Jordan was, still is, and will be their main source of income. We still dream of the day when Palestine will be able to accomodate large profitable businesses.
Thanks
Posted by Jawahar, Dubai on 2 December 2007 at 12:00 UAE time
Thank you for this information.
Posted by Jawahar, Dubai on 2 December 2007 at 12:00 UAE time
Thank you for this information.
Rish List 2007: extremely useful
Posted by N. A. Mirza, Jeddah, Saudi Arabia on 2 December 2007 at 11:00 UAE time
Extremely useful and well worth preserving. Why not expand the list to the world's richest other nationalities, faiths and followers. The job would be painstaking but would really help your readers.
Posted by N. A. Mirza, Jeddah, Saudi Arabia on 2 December 2007 at 11:00 UAE time
Extremely useful and well worth preserving. Why not expand the list to the world's richest other nationalities, faiths and followers. The job would be painstaking but would really help your readers.
May Allah give them more ans more along with us!
Posted by mir chengez, karachi, Pakistan on 2 December 2007 at 11:00 UAE time
we should learn from them all!specially from Maan Al Sanea
Posted by mir chengez, karachi, Pakistan on 2 December 2007 at 11:00 UAE time
we should learn from them all!specially from Maan Al Sanea
top 50 richestest arabs!
Posted by mir chengez, karachi, Pakistan on 2 December 2007 at 10:00 UAE time
May Allah give them more!along with us.
Posted by mir chengez, karachi, Pakistan on 2 December 2007 at 10:00 UAE time
May Allah give them more!along with us.
Billionnaire list
Posted by Latif Bashan, Amman, Jordan on 2 December 2007 at 10:00 UAE time
Nice to know there are excellent businessmen in the Arab world , who can rise up to the challange & feel as well as act with confidence in the era of globalization. Best wishes to the list publishers & heartfelt congratulations to our Arab billionaires!
Posted by Latif Bashan, Amman, Jordan on 2 December 2007 at 10:00 UAE time
Nice to know there are excellent businessmen in the Arab world , who can rise up to the challange & feel as well as act with confidence in the era of globalization. Best wishes to the list publishers & heartfelt congratulations to our Arab billionaires!
Posted by T.M.KABEER, doha, Qatar on 2 December 2007 at 10:00 UAE time
Thanks for this wonderful information.
open letter
Posted by DR QAISAR JAVED, doha, QATAR on 2 December 2007 at 09:00 UAE time
Why is nobody included from QATAR where the per capita income is 77000 $ The 4th richest country in the world - and richest of all Arab countries.
Posted by DR QAISAR JAVED, doha, QATAR on 2 December 2007 at 09:00 UAE time
Why is nobody included from QATAR where the per capita income is 77000 $ The 4th richest country in the world - and richest of all Arab countries.
Posted by Mohammad Osman, Riyadh, Saudi Arabia on 2 December 2007 at 09:00 UAE time
That is really great to see so many billionars here in the Middle East even though the world believes the Middle East is still backwarded in terms of development. I hope this money will do something good for the people, especially the Palestians who have several billionaires of their own.
Kuwait & Saudi
Posted by Hassan Choudhry, Kuwait on 2 December 2007 at 09:00 UAE time
First of all I would like to congratulate ARABIAN BUSINESS for this fabulous list that they have produced indeed a mere milestone for many. The majority of the people making the list are from Saudi & Kuwait. Why is this? Does it have something to do with strict Islamic laws embedded in these countries, or is it because of employment conditions - for expatriates and locals?
Posted by Hassan Choudhry, Kuwait on 2 December 2007 at 09:00 UAE time
First of all I would like to congratulate ARABIAN BUSINESS for this fabulous list that they have produced indeed a mere milestone for many. The majority of the people making the list are from Saudi & Kuwait. Why is this? Does it have something to do with strict Islamic laws embedded in these countries, or is it because of employment conditions - for expatriates and locals?
A fascinating list
Posted by Mohammed Amwar, Dubai, UAE on 2 December 2007 at 05:00 UAE time
This is a highly thought provoking list. I am particularly interested in why there are no entries for countries like Oman. Is wealth distributed more evenly in these countries?
I also assume Iran was not included - Iranians are not Arabs. However I suspect should you have done so it would have changed things slightly. I also think many of the Arabs you have on the list could have had Iranian nationality at some point.
Posted by Mohammed Amwar, Dubai, UAE on 2 December 2007 at 05:00 UAE time
This is a highly thought provoking list. I am particularly interested in why there are no entries for countries like Oman. Is wealth distributed more evenly in these countries?
I also assume Iran was not included - Iranians are not Arabs. However I suspect should you have done so it would have changed things slightly. I also think many of the Arabs you have on the list could have had Iranian nationality at some point.
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I agree with what mustapha from london said, there are at least 5 multibillionairs in morocco not to mention the rising... 
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