Page 89 - Aamir Rehman Gulf Capital and Islamic Finance The Rise of the New Global Players

CHAPTER 2 Entrusted Stewards 73

T ABLE 2.7

Gulf Representation on Top 30 “Rich List” of Wealthiest Arabs 1

Number on “Rich List”
Country Top 30 2 Individual/Family Listed
Saudi Arabia 15 Prince Alwaleed bin Talal Al Saud
Maan Al Sanea
Sheikh Mohamed Bin Issa Al Jaber
Mohammad Al Amoudi
The Bin Laden family
The Olayan family
Sulaiman Al Rajhi
Saleh Kamel
The Algosaibi family
The Al Zamil family
Mohamed Abdul Latif Jameel
Khalid bin Mahfouz
Saleh Al Rajhi
Sheikh Walid Al Ibrahim
Abdullah Al Rajhi
UAE 5 Abdulaziz Al Ghurair
The Gargash family
Mahdi Al Tajir
Majid Al-Futtaim
Abdullah Al-Futtaim
Kuwait 3 Nasser Al Kharafi
The Al Shaya family
Suad Al Humaidi
Bahrain 1 The Kanoo family

1
“Special Report: The World’s 50 Richest Arabs,” Arabian Business, December 2008,
www.arabianbusiness.com/richlist.
2
The numbers do not add up to 30 because 6 of the individuals or institutions ranked in the top 30 are not
GCC entities.

family conglomerates (and the principals behind them) in building
fortunes of investable wealth.
The “conglomerate culture” of local business families, although
evolving rapidly, has a profound impact on the way many private
institutional investors act. Even when taking minority stakes, many
private institutions prefer to focus on sectors in which they have
operating expertise and deep familiarity. In addition to searching for