The world’s richest Arabs
Sun 15 Dec 2013 04:47 AM
Najib Mikati
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Najib Mikati

Country: Lebanon

Wealth: 3.4 Billion

Najib Mikati may no longer be Lebanon’s prime minister, but he is still his country’s richest man. Mikati, 57, who entered Lebanon’s fractious political scene in 1998 as minister of public works and transport, before then becoming a member of parliament representing his native northern port city of Tripoli, later served as a caretaker premier once in 2005 in the aftermath of the assassination of former premier Rafiq Hariri. He helped steer the country towards parliamentary elections in the wake of the killing before returning in 2011 to serve as premier after the government of Saad Hariri was toppled by Hezbollah and its allies. Mikati, a graduate of the American University of Beirut, helped co-found Investcom along with his brother Taha in 1982 and was later listed on both the London and Dubai stock exchanges in 2006, in what was at the time the largest international listing of a Middle Eastern company. MTN Group Ltd, Africa’s largest mobile phone operator, bought the company in 2006 for $5.5bn. M1 Group, which the two brothers run, became its second-largest shareholder. The company’s holdings include real estate investments in the US, Europe and the Middle East, as well as the Geneva-based Baboo airline and French retailer Faconnable.