Forbes Middle East revealed its ranking of the strongest Arab family businesses in the Middle East for 2020, highlighting 100 of the largest, which helped shape the region.
The list was topped by the Egyptian “Mansour” group, and it has 3 members of the family on the Forbes list of the world’s rich 2020.
The group is one of the largest distributors of the “General Motors” group, and has investments in technology companies.
This is followed by the Emirati Al-Futtaim Group, which owns 100% of the Arab East Insurance Company, and 50% of Emirates Investment Bank, as well as several investments in car agencies, real estate and building materials.
Out of the top ten, 4 companies came from Saudi Arabia, 4 from the United Arab Emirates, and one company from Egypt and Kuwait.
“Olayan” group topped Saudi companies, and ranked third on the list, thanks to its stake in Credit Suisse Bank and the Saudi British Bank.
While Al-Futtaim Group was at the forefront of UAE companies, and ranked fourth on the list, thanks to its ownership of a Toyota dealer in the United Arab Emirates.
In fifth place came the Saudi “Rashid Abdul Rahman Al-Rashid and Sons” group, then the Saudi “Abdul-Latif Jameel” group.
In the seventh place came the Emirati “Al Ghurair” family, whose business is run by Abdulaziz Al Ghurair, followed by the Kuwaiti “Alghanim” industries, at the eighth rank.
And in the ninth place is the Emirati “Al Ghurair Group”, which is managed by Abdul Rahman Saif Al Ghurair.
The Saudi “Al-Zamil” Holding Group ranked tenth.
More than 600,000 employees work in companies listed in the “100 Most Powerful Arab Family Companies in the Middle East 2020” list.
The wealth of the ten most powerful Arab families is $ 31 billion, and the list included 10 companies over the age of 100, and 13 companies between the ages of 75 and 100.
The report said that more than 80% of the family companies listed on the list are licensed to sell international brands, either in the countries in which they are located, or across the region.
The list includes 15 families that have been transferred to more than three generations, 47 companies run by the second generation of the family, and 38 companies run by their founders.