Company: EA Juffali & Brothers
Country: Saudi Arabia
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.
The late Ahmed Al Juffali passed away in 1994. However, his legacy lives on through his spouse Suad Al Husseini Al Juffali, his daughter Maha and his three sons Waleed, Khaled and Tarek Ahmed Al Juffali.
However, in 2006 Tarek Ahmed Al Juffali died, leaving behind one of the biggest industrial conglomerates in the region. His legacy and the family’s wealth was honoured with the setting up of the Tarek Ahmed Al Juffali Foundation, a Saudi private national foundation incorporated in the Bahamas and based in Beirut, which provides support to individuals, charities, and non-profit organisations in various areas, delivering food, shelter, healthcare and education.