The world’s richest Arabs
Sun 15 Dec 2013 04:47 AM
Osama Abu Dawood
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Osama Abu Dawood

Country: Saudi Arabia

Wealth: 2.68 Billion

Osama Abudawood has served as president of the Saudi Chambers of Commerce, as well as president of the Arab Chamber of Commerce. Abudawood heads up the Ismail Ali Abudawood Trading Company (IATCO), one of the kingdom’s largest distribution operations and a leading distributor of fast moving consumer goods (FMCG). Abudawood took over the reins of the company in 2005 following the death of his father, Sheikh Ismail Abudawood. IATCO is at the heart of the Abudawood Group, founded in 1935 as a small wholesale business by Mohammed and Ismail Abudawood.

Parent company Abudawood Group is a diversified international conglomerate incorporating investments in the Middle East, Europe and US, and covering a wide range of sectors including sales and distribution, trading, real estate, financial investments and education. IATCO is the preferred distributor for some of the world’s most prestigious companies, including Procter & Gamble, Clorox, Quaker, Ferrero and Fonterra.

Its sophisticated distribution network of 20 warehouse and distribution facilities and a fleet of over 200 modern delivery vans ensure timely delivery to over 20,000 retail outlets in more than 140 cities and rural areas.