Industry: Banking & Finance
Company: Jarir Marketing Company
Country: Saudi Arabia
Wealth: 600 Million
Muhammad Al Agil currently serves as the CEO of Jarir Investment and chairman of Jarir Group, which comprises of Jarir Bookstore,
, Jarir Furniture, Jarir Real Estate, Kite Arabia Ltd and Kids Kingdom. He owns a nine percent stake in the family firm, equal to the holdings of each of his brothers: Abdullah, Abdulkarim, Abdulsalam and Nasser.
Muhammad conceptualised and co-founded
and the Jarir Bookstore chain, developing them into leading wholesalers and retailers in Saudi Arabia for stationery, school supplies, office machines, computer supplies, books, arts and engineering items.
is listed on the Saudi Stock Exchange with a current market capitalisation of more than $1.4bn. It operates through a network of 26 outlets across Saudi Arabia, and has three outlets in Qatar, Kuwait and the UAE.
Since 1990 Muhammad has also been focusing on private investment both as a direct principal, and through institutional partnerships. His choices have paid off handsomely, and Jarir Investment, a family office, has made strong returns worldwide through a number of hedge funds and private equity deals.
The Harvard University graduate is a board member of various public companies and large family business groups in Saudi Arabia and the UAE, including Tawuniya Insurance Co, MBC TV, and Al Faisaliah Group.