Industry: Construction, Retail & Real Estate
Company: Ahmed Salem Bugshan Group
Country: Saudi Arabia
Wealth: 7 Billion
The Bugshan family owns a business empire of epic proportions. Based in Jeddah, they are associated with a plethora of business sectors, including automobiles, luxury cosmetics and watches, real estate and electronics. As regional entrepreneurs, they also maintain a strong presence in Morocco, Yemen, Algeria and the UAE.
Founded in 1923, the Ahmed Salem Bugshan Group (referred to as ASB) started as a steel manufacturer. Since then it has developed into a huge conglomerate by establishing alliances, joint ventures, dealerships and licence agreements with leading global brands.
In Saudi Arabia, ASB companies hold sole distribution rights for Bridgestone tyres, Nivea, and Christian Dior perfumes, to name a few. With the opening of Canadian curriculum school for the expatriate and local community in 2009 in Saudi Arabia, education can be added to the group’s ever growing portfolio.