10 Kuwaiti groups in Forbes Middle East Top 100 Arab Family Businesses list

IIK Staff Reporter

Monday, June 29, 2020

Forbes Middle East has revealed its ranking of the Middle East's most powerful Arab family businesses for 2020, highlighting 100 of the largest family companies that have helped to shape the region.

Saudi Arabian family businesses dominated the list with 36 entries. The Olayan Group, which ranked third on the list, was the top-ranked Saudi company on the list.

Kuwait is the third-highest represented company with 10 Kuwaiti groups making into the list. Alghanim Industries, headed by billionaire Kutaiba Alghanim, was the highest-ranked Kuwaiti company.

Alghanim Industries placed 8th position on the list. Others in the list include Alshaya Group (14th place), M.A. Al-Kharafi & Sons (18), Morad Yousuf Behbehani Group (19), BoodaiCorp (34), Al Mulla Group Holding Co (54), Al-Sayer Group (58), Marafie Group (61), Bukhamseen Holding (66) and Al Wazzan Group on 98th rank.

The Mansour Group from Egypt, which is managed by Mohamed, Yassin and Youssef Mansour, whose combined wealth is $7.4 billion topped the list.

More than 600,000 employees work for companies listed in the "100 Most Powerful Arab Family Companies in the Middle East 2020" list.

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