Company: General Mediterranean Holdings
Wealth: 3.18 Billion
A frequent entrant on the Sunday Times Rich List for British residents, Nadhmi Auchi is an Iraqi but has been living in the UK since 1980. There, he is chairman of the Anglo-Arab Organisation (AAO), and a British citizen.
Owner and manager of a string of construction and trading companies in Iraq, he was jailed by Saddam Hussein’s regime and left the country in 1980. By then he had founded 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 span across the Mediterranean and beyond with over 120 companies employing some 7,000 staff with representation in the Middle East, Northern Africa, Europe, the Americas, the Caribbean, the Asia Sub Continent and the Pacific Rim. The group’s consolidated assets now exceed $4.2bn.
Auchi’s work with the Anglo-Arab Organisation (AAO) has resulted in donations to Pakistan after the 2005 earthquake and building schools in Morocco. He has been honoured for his services to the business community by the Queen, King Abdullah of Jordan, the former president of Lebanon and Pope John Paul II among others.