The Middle East is shaping up to be the next big economic superpower. While China is strengthening its manufacturing prowess and its economy in general, and India is turning into the world’s biggest consumer market, the Middle East as a region will be the financial district of the world. This is where most of the wealth is circulating.
You cannot do business in the Middle East without knowing the key figures of the region. There are a lot of wealthy families and industry leaders from the UAE, Saudi Arabia, and other countries in the region.
This article will take a look at five powerful Middle Eastern businessmen you should be aware of.
Alwaleed Bin Talal Al Saud
We really can’t talk about influential Middle Eastern businessmen without talking about Prince Alwaleed. He is known for his involvement in global banking and the financial market, with an estimated wealth of over $20 billion.
He owns Kingdom Holding Company (KHC), an investment company currently regarded as the biggest in the world. He also has stakes in private and public companies across the United States, Europe, and Asia. Prince Alwaleed’s primary focus is the financial industry, but he is a well-known figure in the manufacturing world as well.
Fahad Mizied Al-Rajaan
Fahad Mizied Al-Rajaan, also known as Fahad Alrajaan, is now the Director General of the Public Institution for Social Security in Kuwait. His venture into the business world started in 1976 when he joined the Kuwait Investment Company.
Today, he is the chairman of Wafra Investment Advisory Group, Inc., an investment firm based in New York. Fahad Alrajaan is also the former chairman of Ahli United Bank in Kuwait. He has a talent for spotting potential opportunities.
Mohammed Al Amoudi
Another prominent figure in the Middle East is Mohammed Al Amoudi, an expert in the agriculture, energy, construction, and mining industries. Al Amoudi’s extensive experience stems from years of experience; he has been a powerful man since the 1970s. Aside from supplying coffee beans to Starbucks, his company, Saudi Star, also supplies tea leaves to Lipton.
Al Rajhi Family
Many Middle Eastern businesses are built as family businesses and the Al Rajhi family is among the most well-known families on the market. The three brothers of the family, Saleh, Mohammed, and Abdullah, founded the Al Rajhi Bank. With a network of more than 500 branches, Al Rajhi Bank is currently the second biggest bank in Saudi Arabia.
Prince Sultan bin Mohammed bin Saud Al Kaber
As a member of the Saudi royal family, Prince Sultan bin Mohammed bin Saud Al Kaber operates his vast network of businesses from his home in Riyadh. He funds companies through several investment firms and is now the owner of a large dairy company in the Middle East.
These are five of the most prominent businessmen you should know if you want to venture into the Middle Eastern market. As the Arab market expands and becomes more attractive to more investors, these are the names you will hear most often in the media.