The Middle East is home to some of the world’s wealthiest individuals, each amassing fortunes through strategic investments and diverse business ventures. Among them, Naguib Sawiris leads with a net worth of over $7 billion, having made his mark in telecommunications and media. Abdulla Al Ghurair follows with significant wealth built through the Al Ghurair Group’s ventures in food, real estate, and banking. Meanwhile, Suhail Bahwan, with $2.7 billion, has thrived in trading and manufacturing. The richest people in the Middle East not only influence global markets but also drive substantial economic growth and innovation in their respective sectors. Here is the list of the top 10 richest people in the Middle East.

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List of 10 Richest People in the Middle East

1. Nassif Sawiras
2. Issad Rebrab
3. Hussain Sajwani
4. Mohamed Mansour
5. Naguib Sawiris
6. Abdulla Al Ghurair
7. Najib Mikati
8. Taha Mikati
9. Suhail Bahwan
10. Abdulla Al Futtaim

1) Nassif Sawiras

Nassef Sawiris is one of the richest and most powerful people in the Middle East, with an astonishing net worth of $7.4 billion. Sawiris, a prominent figure in the building and chemical industries, serves as chairman of OCI N.V., a multinational manufacturer of chemicals, fertilizers, and building supplies. The construction enterprise of his family, Orascom, is a prominent player in Egypt’s business landscape, greatly adding to his enormous wealth.

Sawiris stands out for his keen business sense and capacity for investment diversification. Besides building and chemicals, he is a board member of Adidas and has a sizable stake in the company. His already strong portfolio gains additional depth with this involvement in the sports goods behemoth.

Sawiris’s wealth isn’t just a result of inheritance; his strategic moves in expanding the family’s business and venturing into different industries have been crucial to his financial success. With a combination of inherited fortune and his investment prowess, Nassef Sawiris continues to be a dominant force in both regional and global business circles, ensuring his place as a Middle Eastern billionaire with far-reaching influence.

2) Issad Rebrab

One of the richest people in the Middle East and North Africa is Issad Rebrab, who has an astounding net worth of $4.6 billion. The largest privately held company in Algeria, Cevital, was founded and is led by Rebrab, who made his riches mostly in the food business, but his empire is multifaceted. Cevital is involved in food processing, steel, technology, and even the distribution of automobiles, demonstrating Rebrab’s wide range of commercial ventures.

Rebrab’s innovative leadership and dedication to developing Algeria’s economy are what make him unique. Under his direction, Cevital rose to prominence in the sugar refining industry, owning one of the biggest refineries in the world with the capacity to produce millions of tons a year. 

Rebrab’s focus on creating jobs and fostering innovation in Algeria has made him a respected figure in the region. His ability to turn Cevital into a multinational giant is a testament to his business acumen and determination. With his investments in renewable energy and technology, Rebrab continues to grow his wealth while making a lasting impact on Algeria’s industrial landscape.

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3) Hussain Sajwani

With an astounding $4.5 billion in net worth, Hussain Sajwani is a prominent player in the Middle East’s luxury real estate market. Sajwani, who founded and serves as chairman of DAMAC Properties, one of the biggest real estate development firms in the United Arab Emirates, has been instrumental in changing Dubai’s cityscape via opulent residential, business, and recreational developments.

Sajwani’s path to billionaire status started in the food business when in the 1990s he first provided catering services to construction companies and the US military. His actual success, though, came in 2002 when DAMAC Properties was established in response to Dubai’s decision to permit foreign ownership of real estate. His sharp business acumen and ability to capitalize on market trends helped DAMAC grow into a powerhouse, known for its lavish developments and partnerships with global luxury brands like Versace, Fendi, and Bugatti.

Sajwani’s wealth stems not only from real estate but also from his strategic investments in equity markets and hospitality. His vision to combine luxury with innovation has cemented his reputation as a leader in the industry. Through his bold, ambitious projects, Hussain Sajwani has become synonymous with the rapid urban development and opulence that define modern Dubai.

4) Mohamed Mansour

Mohamed Mansour is one of the richest people in the Middle East, with a huge net worth of $3.6 billion. He has amassed his wealth through various business endeavors. He is the head of the Mansour Group, one of the biggest companies in Egypt with operations in the automotive, retail, agricultural, and technological sectors.

The Mansour family firm earned a name for itself in the automobile sector by taking over as General Motors’ exclusive distributor in Egypt. As a result of this collaboration, Mansour Group became one of the biggest GM vehicle dealers globally, reaching out to new areas. Apart from the automobile industry, Mansour also ventured into consumer products, forming significant retail alliances such as McDonald’s franchises in Egypt, and foraying into technology through collaborations with corporations such as Microsoft.

What truly sets Mohamed Mansour apart is his forward-thinking approach and willingness to diversify his investments globally. His business empire now spans multiple continents, including interests in energy and private equity. Mansour’s leadership and strategic investments have ensured the Mansour Group’s sustained growth and adaptability in rapidly changing markets. With his wealth continuing to grow, Mohamed Mansour remains a highly influential figure in the Middle East’s business landscape, admired for his innovation and entrepreneurial spirit.

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5) Naguib Sawiris

Naguib Sawiris is among the most well-known billionaires in the Middle East, possessing an astounding $3.3 billion in net worth. Sawiris, well-known for his audacious media and telecoms endeavors, has amassed an empire spanning several countries and industries. In his capacity as Orascom Telecom’s previous CEO, he turned the business into one of the biggest mobile providers in developing nations, especially in Africa and the Middle East.

Sawiris was instrumental in bringing mobile access to neglected areas, turning Orascom into a multibillion-dollar telecom behemoth before selling it to VimpelCom, a Russian corporation. This historic deal greatly influenced his enormous wealth.

Besides telecom, Sawiris has made significant media investments. He founded the well-known news station ONTV, which rose to prominence in Egypt’s media environment. To add even more to his wealth, his business ventures include mining. Through his company La Mancha, he has made significant gold investments.

Naguib Sawiris is renowned for his willingness to take calculated risks and his aptitude for seizing business opportunities. His ability to lead and see the big picture has made him a wealthy and influential person in the world of business. Sawiris keeps expanding and diversifying his financial empire with forays into the mining, media, and telecoms sectors.

6) Abdulla Al Ghurair

Abdulla Al Ghurair is one of the richest people in the Middle East, with an enormous net worth of $3 billion. His wealth is the result of a broad corporate empire led by the Al Ghurair Group, which has holdings in financial services, real estate, food, and construction. Al Ghurair solidified his place in the region’s financial industry as the founder of Mashreq Bank, one of the top banks in the United Arab Emirates.

Beginning as a trading enterprise and developing into a multibillion-dollar conglomerate, the family business has benefited greatly from Al Ghurair’s leadership and commercial expertise.  The group’s food division, Al Ghurair Foods, is one of the largest food manufacturers in the Middle East, while its construction arm has been involved in iconic projects like the Burj Khalifa and the Dubai Metro, boosting the company’s influence in the region.

Beyond his business ventures, Abdulla Al Ghurair is also known for his philanthropic efforts. In 2015, he pledged a significant portion of his wealth to education, establishing the Abdulla Al Ghurair Foundation for Education, which aims to provide scholarships and support for underprivileged Arab youth.

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7) Najib Mikati

Najib Mikati is among the richest people in the Middle East, with a substantial net worth of $2.8 billion. His business endeavors in the telecoms industry are the main source of his fortune. Together with his brother Taha Mikati, Mikati co-founded the massive telecom company Investcom in 1982. The company quickly grew by offering mobile services in developing nations throughout Europe, the Middle East, and Africa. The business experienced tremendous growth and became a leader in areas where mobile connectivity was still in its infancy. The brothers’ wealth increased dramatically when they sold Investcom to MTN, a South African telecoms company, in 2006 for a $5.5 billion price.

Mikati has expanded his investing portfolio beyond telecommunications to include real estate and banking, owning properties and holdings in banks worldwide. His investment firm, M1 Group, plays a pivotal role in managing these interests, ensuring steady growth in his wealth.

Beyond his business empire, Mikati has had a prominent political career, serving multiple terms as Lebanon’s prime minister. His ability to navigate both the business and political spheres has solidified his influence in the region.

Mikati’s combination of entrepreneurial success and political leadership has positioned him as a dominant figure in Lebanon and beyond, with his wealth rooted in both innovation and strategic expansion.

8) Taha Mikati

Taha Mikati is among the richest businesspeople in the Middle East, with a huge net worth of $2.8 billion. Taha co-founded Investcom, a telecom business that rose to prominence in developing areas throughout Europe, the Middle East, and Africa, with his brother Najib Mikati. Taha’s wealth was aided by Investcom’s quick growth and accomplishments in bringing mobile services to neglected areas. The Mikati brothers were among the richest people in the world when they sold Investcom to MTN Group in South Africa in 2006 for a sum of $5.5 billion, making it one of the biggest telecom transactions in the area.

Taha Mikati is not limited to the telecom industry in her commercial skills. The family’s investment holding business, M1 Group, which he co-manages, has a varied portfolio in industries like real estate, aviation, retail, and energy. The group owns properties in New York, London, and Monaco besides holdings in luxury fashion labels and Swiss airlines.

Taha is unique because of his methodical, low-key approach to accumulating wealth. Even while he keeps a low profile, his investments develop constantly, guaranteeing his position as a major player in international commerce. Taha Mikati’s riches are evidence of his innovative leadership and proficiency in spotting profitable prospects in a variety of businesses.

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9) Suhail Bahwan

Suhail Bahwan is one of the richest and most powerful people in Oman, with a net worth of $2.7 billion. The Suhail Bahwan Group, his commercial empire, is involved in a variety of industries, such as engineering, healthcare, fertilizers, and construction. But his first foray into trading was what made him wealthy in the first place. Bahwan and his brother began a modest trade company in 1965 and were the first to bring Japanese automobiles, more especially Toyotas, to Oman. This made them pioneers in the automotive distribution sector.

Bahwan’s choice to diversify the Suhail Bahwan Group into other profitable industries was what caused his wealth to soar. With a state-of-the-art facility in Oman, the company is a prominent participant in the production of fertilizers, especially urea. This venture has been particularly successful, as the demand for fertilizers continues to grow globally, further boosting Bahwan’s fortune.

Besides his business achievements, Bahwan has made significant contributions to healthcare, education, and social development in Oman through various philanthropic initiatives. His leadership and entrepreneurial spirit have not only built a multi-billion-dollar conglomerate but also made a lasting impact on Oman’s economic landscape. Suhail Bahwan’s legacy is defined by diversification, innovation, and a commitment to growth.

10) Abdulla Al Futtaim

With an astounding $2.4 billion in net worth, Abdulla Al Futtaim is a significant player in the Middle Eastern commercial scene. He has established an empire spanning several industries as the proprietor of the Al-Futtaim Group, a conglomerate with holdings in the automotive, retail, real estate, and financial services sectors. The Al-Futtaim Group is primarily renowned for being the UAE’s exclusive distributor of Toyota automobiles, a move that significantly contributed to the brand’s rise to prominence in the area.

The group’s retail section, which sells foreign brands including IKEA, Marks & Spencer, and ACE Hardware in the UAE and other countries, is another source of Abdulla Al Futtaim’s fortune. His enormous wealth is increased by the group’s equally well-known real estate division, which develops upscale business and residential properties.

Abdulla Al Futtaim stands out for his capacity to grow and diversify the company in important areas that propel the economy of the United Arab Emirates. The Al-Futtaim Group is now among the biggest and most prosperous family-owned companies in the area because of its strategic vision. Abdulla Al Futtaim’s supremacy in the market, astute alliances, and unwavering pursuit of expansion have made him a formidable force in the Middle East.

No	Name	Net Worth (Billion USD)	Country
1	Nassif Sawiras	7.4	Egypt
2	Issad Rebrab	4.6	Algeria
3	Hussain Sajwani	4.5	UAE
4	Mohamed Mansour	3.6	Egypt
5	Naguib Sawiris	3.3	Egypt
6	Abdulla Al Ghurair	3	UAE
7	Najib Mikati	2.8	Lebonan
8	Taha Mikati	2.8	Lebonan
9	Suhail Bahwan	2.7	Oman
10	Abdulla Al Futtaim	2.4	UAE

Conclusion

In a region renowned for its luxury and economic dynamism, the richest people in the Middle East shine as prime examples of financial success and entrepreneurial prowess. Their financial talent underscores a broader trend of entrepreneurial spirit and strategic investments, significantly impacting global markets. As these leaders expand their influence, their contributions not only elevate their fortunes but also advance the region’s economic development.

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