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Wealthy people live in Saudi Arabia, but who is the richest man? In this article, we have listed the top 10 richest people in Saudi Arabia.
- Number of Billionaires in Saudi Arabia: 15.
- Number of Millionaires in Saudi Arabia: 351,855.
Prince Alwaleed Bin Talal
Prince Alwaleed Bin Talal Bin Abdul-Aziz Al-Saud is undoubtedly the richest man in Saudi Arabia, with a net worth of $16.5 billion.
He owns 95% of the shares in Kingdom Holding, a listed company. He also built the iconic Kingdom Center in Riyadh.
He married Ameera al-Taweel in 2008 and divorced her after 5 years in 2013.
Sulaiman Al Habib
Sulaiman Al Habib, the founder and chairman of Dr. Sulaiman Al Habib Medical Services Group (HMG), a hospital group in Saudi Arabia, is the second richest man in the Kingdom with an estimated worth of $10.9 billion.
He is a trained pediatrician who started the group in 1995. In 2020, he took the group public on the Saudi stock exchange and now owns 40% of it.
HMG operates hospitals and medical clinics in several Saudi Arabia, Dubai, and Bahrain cities. The group also runs a chain of pharmacies.
Emad Al Muhaidib
Emad Al Muhaidib, the vice chairman of Al Muhaidib Group, a family-owned business in Dammam, is the third-wealthiest man in Saudi Arabia with an estimated net worth of $3.8 billion.
Al Muhaidib Group invests in various sectors, including consumer products, infrastructure, construction, real estate, and finance. Emad owns 28% of the company.
His father,, Abdulkadir, founded Al Muhaidib Group in 1943. He started as a food trader before expanding into building materials and real estate.
Essam Al Muhaidib
Essam Al Muhaidib, the CEO of Al Muhaidib Group, a family-owned business in Dammam, is the fourth-richest man in Saudi Arabia with an estimated net worth of $3.6 billion.
Sulaiman Al Muhaidib
Sulaiman Al Muhaidib, the Chairman of Al Muhaidib Group, a family-owned business in Dammam, is the fifth-richest man in Saudi Arabia with an estimated net worth of $3.6 billion.
Mohammad Abunayyan
Mohammad Abunayyan, the founder and chairman of ACWA Power, a Saudi company that generates power and desalinate water, is ranked sixth among Saudi Arabia’s wealthiest people, with a net worth of $3.2 billion.
He started the company in 2004 and took it public on the Saudi stock exchange in 2021, owning 4.5% of the shares.
Abunayyan also chairs Vision Invest, a Saudi holding company that owns parts of several publicly traded and privately held companies.
Abdullah Al Othaim
Abdullah Saleh Al Othaim is the chairman of Abdullah Al-Othaim Markets, a supermarket chain in Saudi Arabia, and the country’s seventh richest man, with a net worth of $2.5 billion.
The chain has over 400 stores in Saudi Arabia and about 50 in Egypt. Abdullah also leads Al Othaim Holding Company, which owns and operates shopping malls and restaurants in Saudi Arabia.
Abdullah bin Sulaiman Al Rajhi
Abdullah Suleiman Abdulaziz Al-Rajhi Area is the 8th wealthiest man in Saudi Arabia, with a net worth of $2.5 billion.
Abdullah Al Rajhi is the son of Sulaiman Al Rajhi, who established Al Rajhi Bank and is still its chairman.
He also owns one of the most prominent Islamic banks on earth. The group is holding investments in the Al Baraka Banking Group amongst agricultural, steel, and cement companies.
Abdullah Amer Al Nahdi
Abdullah Amer Al Nahdi founded and is vice chairman of Nahdi Medical, Saudi Arabia’s largest chain of pharmacies. He is the 9th richest man in Saudi Arabia with a net worth of $2.3 billion.
Nahdi Medical, which had $2.3 billion in 2023 revenue, went public on the Saudi stock exchange in 2022.
Al Nahdi started the company by purchasing two pharmacies in Jeddah in 1986, a year after he graduated from university.
Waleed bin Ibrahim Al Ibrahim
Waleed bin Ibrahim Al Ibrahim is the founder and chairman of MBC Group, an Arab TV broadcaster named initially the Middle East Broadcasting Center. With a net worth of $1.4 billion, Waleed is the tenth-wealthiest person in Saudi Arabia.
Al Ibrahim owns 36% of the company, while the Saudi Public Investment Fund owns 54%, making it effectively state-controlled.
MBC runs 13 satellite channels, including Al Arabiya, an English-language news channel based in Dubai that competes with Al Jazeera.
Ihsan Shakour Abu Ghazalah
Ihsan Shakour Abu Ghazala and his family, the owners of Albaik restaurant, are one of the wealthiest families in Saudi Arabia. Their net worth is around $1.3 billion.
Their father, Shakkour Abu Ghazalah, started the first restaurant of Albaik in 1974 in Sharifiyah Jeddah. However, he passed away shortly, and his sons took over the business.
Source: Forbes
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