The UAE's Al-Futtaim Group has come second on Forbes Middle East’s Top 100 Arab Family Businesses 2023, with Al Ghurair Investment, Majid Al Futtaim Holding and Al Ghurair Group making it to the top 10.
Egypt’s Mansour Group, with a combined net worth of $6.4 billion, topped the annual list, which evaluates successful Arab businesses based on size, performance, business activity and legacy.
Saudi Arabian businesses dominated the list with 33 entries, followed by the UAE with 29.
The rankings include 11 billionaires with a combined net worth of $27.7 billion.
Don’t miss our August issue and the inspirational stories of the Top 100 Arab Family Businesses 2023. A host of exclusive interviews include Tarek Hosni, CEO of Saudi pharma giant Jamjoom Pharma, who recently led the firm through an IPO. #Forbeshttps://t.co/Id2b4a5qKn pic.twitter.com/HVsn6gO4df
— Forbes Middle East (@Forbes_MENA_) August 1, 2023
Climbing the ranks is SEDCO Holding - the only newcomer of this year’s top 10, going from the 14th spot in 2022 to eighth. This Saudi investment firm owns 35 per cent of Nahdi Medical Company, which raised $1.4 billion in 2022, marking the Kingdom’s largest IPO since Aramco’s listing.
Click here to see the full Forbes Middle East’s Top 100 Arab Family Businesses 2023.
Japan to seek boosting investment with upcoming economic stimulus
UAE family businesses drive 60% of GDP, key to 2031 Vision
Elon Musk's $1 trillion Tesla pay plan wins shareholder approval
Microsoft to train over 300,000 in UAE with AI skills
