Top 10 Richest Sheikhs in The World and Their Net Worth

Richest Sheikhs in The World and Their Net Worth. As stereotypical and as clichéd as it may sound, the truth remains that the Arab region boasts of several rich sheiks, most of whom hail from the United Arab Emirates. Many of these sheiks draw the majority of their wealth from the energy industry thanks to the huge abundance of crude oil reserves that pervade the region.

Some have also diversified their holdings and interests to areas that go beyond oil, thus further strengthening their bottom-line. With the wealth garnered, many of these individuals live a life of relative luxury. Some have also committed to giving back to society through various philanthropic gestures.

The Top 10 Richest Sheikhs in The World and Their Net Worth.

10. Faisal Bin Qassim Al Thani – Net Worth: $1.4 Billion

Top 10 Richest Sheikhs in The World and Their Net WorthSome of the richest sheikhs in the world owe their wealth to family patronage and assistance. It is, however, a different ball game when it comes to Faisal Bin Qassim Al Thani. The foremost Qatari businessman is a self-made billionaire who has managed to achieve his status by sheer dint of hard work.

As the story goes, Al Thani began his entrepreneurial life as a car parts seller in Doha at the age of 16. From there, he became the sole distributor of Bridgestone Tires in his country and soon started a small trading company with a startup capital that he had gotten. This was in the 60s and in the intervening period, Al Faisal Holdings has grown into one of the largest conglomerates in Qatar.

The company has several subsidiaries and their interests spread to areas such as manufacturing, trading, services, transport, entertainment, and education. One of their major subsidiaries is the Al Rayan Tourism & Investment Company (ARTIC) which has more than 25 hotels spread across the Middle East, North Africa, Europe, and the United
States of America.

9. Abdulla Al Futtaim – Net Worth: $2.1 Billion

Al Futtaim is the founder of Al Futtaim Group, a company that employs about 44,000 employees and has interests in several sectors, including the automotive, electronics, insurance, services, real estate, and retail industries. The group’s {rst taste of success came with their motor division which was able to nab deals to become the exclusive distributors of Toyota vehicles in the U.A.E in the 50s. Toyota accounts for 30% of the auto market in the Emirates and this predictably made the company’s revenue soar.

With the profits made from the auto sector, the Al Futtaim Group has founded the largest insurance company in the UAE known as Orient. They have also been able to make some smart franchising deals with the license to operate Hertz, Ikea, Toys “R” Us, ACE, and Zara Stores in the UAE. The Al Futtaim Group has also extended its influence beyond the Middle East.

They have purchased not less than 27 Marks & Spencer stores in Hong Kong and Macau, bringing their worldwide total to over 73.

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