Arabian Business Power 500 2013
Thu 21 Mar 2013 10:28 AM
Najib Mikati

Najib Mikati

Industry: Telecoms

Designation: Entrepreneur

Country: Lebanon

A businessman turned politician. Mikati, 57, who entered Lebanon›s fractious political scene in 1998 as a Minister of Public Works and transport, before then becoming a member of parliament representing his native northern port city of Tripoli, later served as a caretaker premier once in 2005 in the aftermath of the assassination of former premier Rafiq Hariri.

Mikati, a graduate of the American University of Beirut, helped cofound Investcom along with his brother Taha.

The company was listed on both the London and Dubai stock exchanges in 2006, in what was at the time the largest international listing of a Middle Eastern company.

MTN Group Ltd., Africa’s largest mobile-phone operator, bought the company in 2006 for $5.5 billion. M1 Group, which the two brothers run, became its second-largest shareholder. The company’s holdings include real estate investments in the US, Europe and the Middle East, as well as the Geneva-based Baboo airline, French retailer Faconnable and being a major shareholder in Royal Jordanian Airlines.