Industry: Banking & Finance
Country: UK (Iraq)
Auchi is founder of General Mediterranean Holdings, based in Luxembourg, which has grown into an international powerhouse with activities in banking and finance, real estate, construction, hotel and leisure, industrial, trading and pharmaceuticals, communications, IT and aviation.
Its interests today include more than 120 companies employing 7000 staff with representation all over the world. Auchi also owns a stake in Egyptian billionaire Naguib Sawiri’s Orascom Telecom and owns Team Lebanon of the A1 Grand Prix Race series.
Auchi was once a middle man for major oil companies and state-owned oil fields in the Gulf before fleeing Iraq in 1980 when he was jailed by Saddam Hussein’s regime.
He moved to Britain where he has lived since. He founded the Anglo-Arab Organisation (AAO), which has helped raise money for Pakistan after the 2005 earthquake and to build schools in Morocco.
He was recently named by Forbes magazine as 670th richest man in the world, worth $2.2bn.