World's 100 Most Powerful Arabs 2014
Wed 26 Mar 2014 03:56 PM
Munib Masri

Company: PADICO

Designation: Chairman

Country: Palestine

Often described as the Duke of Nablus or Palestine’s Rothschild, Masri is known as the patriarch of a prominent Palestinian family that has produced bankers, consultants and politicians. Geologist Masri — now 80 — hails from the West Bank town of Nablus. Masri, who was once a close confidant of the late Palestinian leader Yasser Arafat (who offered him the premiership three times), made his fortune in oil and gas working in the Gulf, North Africa and elsewhere. When the Oslo peace process kicked off Masri helped set up the Palestine Development and Investment Ltd. (PADICO), the largest private investor by initial investment in the West Bank and Gaza Strip, which he chairs. The holding group controls over 30 companies across various industries. Today, however, Masri is more of a fire fighter as he was in the 1970s when helped bring about an end to clashes that took place in Jordan when Palestinian guerillas challenged the authority of King Hussein.

The legend of Nablus

Palestinian businessman Munib Masri has made his fortune in the oil and gas industry.