10 Richest People In Saudi Arabia And Their Empires 2024

Saudi Arabia is home to some of the world’s most influential and wealthy individuals. From healthcare to hotels, from dairy to oil, these 10 power players have carved out their own niches in the kingdom’s economy and beyond. In this in-depth report, we look at the 10 richest non-royal people in Saudi Arabia, their Net Worth and source of wealth.

1: Suleiman al-Habib

Net Worth: $12billion Source of Wealth: Healthcare

Suleiman al-Habib is the founder and chairman of Dr. Sulaiman Al Habib Medical Group, one of the largest providers of health care in Saudi Arabia and the Middle East. He has a net worth of $12 billion, making him the richest person in the kingdom. He has expanded his medical empire to operate hospitals, outpatient clinics, pharmacies and medical labs throughout the region, as well as in Dubai and Bahrain. He has also invested in digital health solutions, such as telemedicine and online pharmacy platforms. He is known for his innovation and excellence in the healthcare sector, as well as his philanthropic initiatives.

2: Alwaleed bin Talal

Net Worth: $10.5 billion Source of Wealth: Investments

Alwaleed bin Talal is the chairman of Kingdom Holding Company, a global investment firm with stakes in various sectors, such as technology, media, banking, real estate and hospitality. He has a net worth of $10.5 billion, making him the second-richest person in Saudi Arabia. He is a prominent shareholder of companies like Citigroup, Lyft and AccorHotels. He is also the owner of several luxury hotels around the world, such as the Four Seasons, the Plaza and the Savoy. He is regarded as one of the most influential investors and businessmen in the world, as well as a generous philanthropist.

3rd Richest Man In Saudi Arabia : Mohamed bin Issa al Jaber

Net Worth: $9 billion Source of Wealth: Hotels, Real Estate, Food

Mohamed bin Issa al Jaber is the founder and chairman of MBI International, a diversified conglomerate with interests in hotels, real estate and food industries. He has a net worth of $9 billion, making him the third-richest person in Saudi Arabia. He owns and operates JJW Hotels and Resorts, a luxury hotel chain with properties in Europe and the Middle East. He is also a major player in the real estate market, developing and managing commercial and residential projects in Saudi Arabia, Europe and Africa. He has invested heavily in the food sector, owning AJWA Group, the largest producer of rice and edible oils in the region, and Jadawel International, a leading food distributor and exporter.

4: Sultan bin Mohammed bin Saud Al Kabeer

Net Worth: $6.5 billion Source of Wealth: Dairy, Agriculture

Sultan bin Mohammed bin Saud Al Kabeer is the co-founder and chairman of Almarai Company, the largest dairy producer in the Middle East and one of the largest food companies in the world. He has a net worth of $6.5 billion, making him the fourth-richest person in Saudi Arabia. He has transformed the dairy and agriculture sector in the kingdom, introducing modern farming techniques and high-quality products. He has also diversified his business to include poultry, bakery, juice and infant nutrition. He is a pioneer in the field of food security and sustainability, as well as a supporter of social and environmental causes.

5: Mohammed al Amoudi

Net Worth: $6.29 billion Source of Wealth: Construction, Oil, Mining

Mohammed al Amoudi is the owner of MIDROC Group, a multinational conglomerate with operations in construction, oil, mining, agriculture, manufacturing and services. He has a net worth of $6.29 billion, making him the fifth-richest person in Saudi Arabia. He is one of the largest foreign investors in Africa, especially in Ethiopia, where he has developed various projects in infrastructure, energy, agriculture and tourism. He is also a major player in the oil and mining sector, owning Preem, the largest oil refiner in Sweden, and Mohammed International Development Research and Organization Companies, a mining company with interests in gold, copper and iron ore.

6th Richest Person In Saudi Arabia: Bakr bin Laden

Net Worth: $5.5 billion Source of Wealth: Construction

Bakr bin Laden is the former chairman of Saudi Binladin Group, the largest construction company in Saudi Arabia and one of the biggest contractors in the world. He has a net worth of $5.5 billion, making him the sixth-richest person in Saudi Arabia. He has been involved in some of the most iconic and ambitious projects in the kingdom, such as the expansion of the Grand Mosque in Mecca, the construction of the Kingdom Tower in Jeddah, and the development of the King Abdullah Economic City. He has also diversified his business to include aviation, telecommunications, power and water. He is a respected leader in the construction industry, as well as a philanthropist

7: Fawaz al Hokair

Net Worth: $4.5 billion Source of Wealth: Retail, Real Estate

Fawaz al Hokair is the founder and chairman of Cenomi Group, formerly known as Alhokair Group, the largest lifestyle retailer in Saudi Arabia. He oversees a portfolio of more than 90 international brands across fashion, food and beverage, and entertainment sectors. He is also a major player in the real estate market, owning and operating 21 shopping malls in the kingdom and abroad. In 2022, he announced the launch of Cenomi.com, an e-commerce platform that aims to provide a seamless online shopping experience for Saudi customers.

8: Abdul Aziz al Rajhi

Net Worth: $3.5 billion Source of Wealth: Banking, Agriculture, Cement

Abdul Aziz al Rajhi is the chairman of Al Rajhi Holding Group, a diversified conglomerate with interests in banking, agriculture, cement, steel, and real estate. He is also a board member of Al Rajhi Bank, the largest Islamic bank in the world and the third-largest bank in Saudi Arabia by assets. He has invested heavily in the agricultural sector, owning Al Safi Danone, the largest dairy producer in the Middle East, and Al Watania Poultry, the largest chicken processor in the region. He is also a major shareholder in Yamama Cement Company, one of the leading cement manufacturers in Saudi Arabia.

9: Sulaiman al Rajhi

Net Worth: $3 billion Source of Wealth: Banking, Philanthropy

Sulaiman al Rajhi is the co-founder and former chairman of Al Rajhi Bank, which he established with his brothers in 1987. He transferred his nearly 20% stake in the bank in 2011 to a charitable endowment that bears his name. The Sulaiman Bin Abdul Aziz Al Rajhi Charitable Foundation supports various causes, such as education, health, social welfare, and Islamic propagation. He also donated his stake in his paper and plastics company, as well as shares in the family’s investment firm, to the endowment. He is known for his modest lifestyle and his dedication to philanthropy.

10th Richest Person in Saudi Arabia Salman al Hokair

Net Worth: $2.5 billion Source of Wealth: Retail, Real Estate

Salman al Hokair is the vice chairman and CEO of Cenomi Group, the leading lifestyle retailer in Saudi Arabia. He is responsible for the strategic direction and operational performance of the group, which operates more than 1,800 stores across the kingdom and the UAE. He is also involved in the real estate sector, developing and managing Cenomi Centers, a network of shopping malls that offer a variety of entertainment and leisure options. He recently entered into an agreement with valU, a buy-now, pay-later fintech platform, to acquire a 4.99% stake in the company.

Conclusion

The 10 richest men in Saudi Arabia in 2024 are a diverse group of businessmen who have amassed their fortunes from various sectors, such as retail, real estate, banking, agriculture, cement, and philanthropy. They have contributed to the economic growth and social development of the kingdom, as well as the advancement of the Islamic finance industry. They have also shown their generosity and social responsibility by donating part of their wealth to charitable causes and initiatives. They are a source of inspiration and pride for the Saudi people and the Arab world