The world’s richest Arabs
Sun 15 Dec 2013 04:47 AM
Mohammed Elkhereiji
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Mohammed Elkhereiji

Country: Saudi Arabia

Wealth: 2.73 Billion

Now back living in Switzerland, Mohammed Elkhereiji heads up the Bahrain-based Elkhereiji Group of companies, a conglomerate with interests in finance, construction, trading and real estate. The firm was founded by Abdul Karim Elkhereiji in 1978. Among the firm’s many clients are several government ministries, all of Saudi Arabia’s major banks, Saudi Arabian Airlines and several of the kingdom’s top universities.

Its largest customer is state oil behemoth Saudi Aramco. Elkhereiji’s finance arm is known as ACE Arabia, which has recently expanded into the insurance sector. ACE MENA, one of ACE Arabia’s joint ventures, is headquartered in Bahrain and is one of the Gulf’s largest insurance players.

One of the “unsung” heroes of Saudi business, the chairman has quietly but successfully turned the company into one of the most important players in the kingdom. Elkhereiji Company’s wide portfolio means that it is not over exposed in any one field, and so has grown rapidly.