Saudi Olayan family biggest gainers on Arabian Business Rich List 2010

  • Share via facebook
  • Tweet this
  • Bookmark and Share
The Olayan family added some $5bn to its store in 2010, giving it the fastest growing fortune on this year’s Arabian Business Rich List

The Olayan family added some $5bn to its store in 2010, giving it the fastest growing fortune on this year’s Arabian Business Rich List

The Olayan family added some $5bn to its store in 2010, giving it the fastest growing fortune on this year’s Arabian Business Rich List.

The family, which controls Saudi conglomerate Olayan, is believed to have a fortune of $11.9bn, compared to $6.9bn at the end of 2009.

Established in 1947, the Olayan Group began as a trucking concern, but has grown into a sprawling conglomerate which owns over 50 companies and has stakes in various international bluechip companies.

The fortune is split between the four children of late founder Suleiman Olayan - Khaled, Hayat, Hutam and Lubna.

The collective wealth of the world’s richest Arabs – excluding politicians and royalty – rose by some $38bn in 2010, making light of the worst economic conditions in living memory.

The list shows the average fortune in 2010 has risen to $4.9bn, from $4.14bn the previous year.

HRH Prince Alwaleed tops the list with $20.4bn, compared to $18bn in 2009, while Mohammed bin Issa Al Jaber is second with $12bn, up from $9.7bn in 2009.

It is not all good news for the Arab elite. Some twenty-four of last year’s names have not made the list this year, including Kuwait’s Alghanim family and the UAE’s Galadari family.

To read the full Arabian Business Rich List 2010, click here

 

Related:

Special Report

AB Rich List 2010

AB Rich List 2010

Topics
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Building a BIZness: Q&A with Hazel Jackson

Building a BIZness: Q&A with Hazel Jackson

Since landing in Dubai in the 1990s, Hazel Jackson has built...

Smoke-free Dubai - the big debate

Smoke-free Dubai - the big debate

Will the emirate ever be smoke free? We spark up the conversation...

5
Mentoring matters: Mowgli Q&A

Mentoring matters: Mowgli Q&A

Kathleen Bury, CEO of mentoring foundation Mowgli, on why mentoring...

Most Discussed