Country: UAE (Bahrain)
Wealth: 6.1 Billion
The biggest family firm in Bahrain, the Kanoo Group has now been in existence for over 120 years. Established in Bahrain in 1890 by Haji Yusuf Bin Ahmed Kanoo, it has grown from its early trading and shipping business to become one of the most diversified and highly regarded business houses in the Gulf region and beyond. After the death of chairman and CEO Abdulla Ali Kanoo, Yusuf Ahmed Kanoo has stepped up to take the top role in the organisation.
Mishal Kanoo, one of the region’s most recognisable executives, remains as deputy chairman. It now has fourteen divisions in total, and employs 4,000 staff, with another 6,000 employed in its various joint venture operations. The company’s joint venture division was established over 25 years ago and has been linked to high profile names such as Axa Insurance, Norwich Union, Maersk and BASF.