Wealth: 6.2 Billion
Born in Mecca into a prominent Najdi family from Oneiza in 1924, the late Ahmed Abdullah Al Juffali set up EA Juffali & Brothers and developed at a very young age, a passion for ‘entrepreneurship’ that complemented his intuitive sense of philanthropy.
He played a major role in the development of many sectors in Saudi Arabia, such as setting up the infrastructure for the conception of the first power utility plant in the kingdom.
Today, the Juffali list of partners reads like a “who’s who” of multinational corporations and includes IBM, Siemens, Ericsson, Mercedes-Benz, Michelin, Massey-Ferguson, Electrolux, Kelvinator, Carrier, Dow Chemicals, DuPont and Butler, to name but a few.
These partnerships were originally geared towards the local market, but in recent years that focus has expanded to include export markets in the region.
Despite the global economic slowdown, there is no sign of any of the company’s impressive list of partners going anywhere else in the near future.
If anything, the likes of Siemens and IBM are increasingly looking at Saudi Arabia for growth, which can only be of benefit to the family. One of the most respected companies in the kingdom, we place them as the seventh richest group in the country. Again, they are set to go higher in 2012.