The World Richest Arabs 2014
Issam Al Zahid
5

Issam Al Zahid

Industry: Diversified

Country: Saudi Arabia

Wealth: 11.2 Billion

Issam Al Zahid is the chairman of the Alzahid Group of Companies. It got its start in 1951 under the banner Alzahid Construction, when it had a hand in smaller-scale planning of roads and other city infrastructure. Later it would be tapped to build the kingdom’s first coast guard stations. By 1958 the company was in full swing, building everything from bridges to tunnels and flyovers — indeed much of the basic transport infrastructure upon which the kingdom still relies. Today, with offices located in Al Khobar, the diversified conglomerate has over 41,000 employees and has significant interests in mining, logistics, oil and gas, manufacturing, information technology, foodstuffs, retail and many other sectors.

Over the course of the last five years, it has set up further subsidiaries in areas as diverse as agriculture, aviation and medicine. The group is planning to invest heavily in the oil and gas sector. Our assessment of Issam Al Zahid’s wealth has been verified by his private office.