The world’s richest Arabs
Sun 15 Dec 2013 04:47 AM
The Hayek Family
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The Hayek Family

Country: Switzerland (Lebanon)

Wealth: 3.2 Billion

If you’re a fan of ultra-expensive watches, then your hobby is likely to be lining the pockets of the Hayek family, who run by far the world’s largest watchmaking company. Sales at Swatch are predicted to come in at over $9bn for the first time this year. The firm is led by chairwoman Nayla and CEO Nick (pictured), who took over the publicly traded firm after the recent death of their father, Nicolas. And, if their latest move pays off, it looks like the group’s revenues could be about to get even larger.

Aside from sales of its own brands, which include Longines, Tissot, Omega and Breguet, Swatch also devotes significant investment to mechanical movements and components, which it has until now sold off to rival manufacturers. This year, Swatch spent $1bn buying the Harry Winston brand, which it plans to use to get even greater access into markets like the US and China.