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Tuesday, February 3, 2015

Saudi merchant families

Saudi Arabia is rich in oil and is the largest oil exporting country. It has 19th largest economy. It has many merchant families involved in commerce for many decades and their wealth can rival that of house of Saud. In the pre oil era, these families provided financing to the royal family for running the affairs of state. Later on when oil was discovered these families were rewarded for their loyalty to house of Saud. They were given important development contracts.
List of wealthy family along with short introduction is given as follow.

The house of Alireza is the oldest family business in Saudi Arabia. The business history of the family spans more than 150 years. The business of Alireza family includes retailing, travel agency services, manufacturing and distribution of aviation fuel, operating of shipping and freight terminals and real estate.

Ba Khashab
Ba Khashab family is involved in providing logistic services. This family owns the largest transporting business in the kingdom. Besides transport the family has distributorship of ISUZU commercial and passenger vehicles.

Bin Laden 
Osama B. Laden famous terrorist belonging to Bin Laden family
Bin Laden family is renowned for its business connections across the globe. Saudi Bin Laden group is largest construction firm in the world. Recently the contract for the construction of Kingdom Tower in Jeddah has been signed. Kingdom tower is planned to be the world’s tallest building.

Al Gosaibi family
Al Gosaibi family is one of the leading merchant families of the Middle East. Its business is diversified and includes oilfield services for ARAMCO, interests in banking, insurance, shipping, trading, stevedoring and manufacturing.

Jamjoom family
Jamjoom family is a prominent Saudi trading family in GCC and African region. The industries in which the family has stakes includes pharmaceuticals, Medical equipment and supplies, vehicles, hotels, food, writing instruments and stationery, toys, perfumes, skin care, fashion and metal industries.

Juffali Family
Juffali Group is the largest business house in Saudi Arabia. Al Juffali family is currently worth 19.8 billion dollars according to list of Arabs by net worth. Today the family business is looked after by sons of Ahmed Juffali, Ebrahim and Ali.
Olayan family
Olayan group is founded by Sulaiman S. Olayan and now it is managed by his sons and daughters.  The group has activities in trading, food processing and restaurants, construction, cleaning products, paper, plastic and fiber and office equipment. The Olayan family invests across the globe and is thought to own more than 10 billion dollars.

AL Rajhi
Al Rajhi family owns the Al Rajhi bank, which is the largest Islamic bank in the world.  Al Rajhi family is now the richest non royal Saudi family.

Al Sulaiman family
Al Sulaiman family is involved in different areas of industry, real estate, and trade. Ghassan Ahmed Al Sulaiman is the sole owner of IKEA Saudi Arabia.

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