Page 99 - SGH PR REPORT - MARCH 2024

3/25/24, 1:32 PM PRESSR: Forbes Middle East reveals the top 100 Arab Family Businesses 2024 — TradingView News
businesses owned or run by Arab families. The conglomerates were

ranked on their size, value, performance, business activity, age,

legacy, and extent of the business’ geographic and sector

diversification.

GCC families are the most successful in the family business space,

with 34 of the 100 firms originating from Saudi Arabia, 28 from the

UAE, and seven businesses each from Kuwait and Qatar. Combined,

these four Gulf countries constitute 76% of the list.

The Saudi Arabia-headquartered Abdul Latif Jameel reigns in the

first place, with the UAE’s Al-Futtaim Group and Egypt’s Mansour

Group rounding up the top three. Of the top 10, the billionaire-

owned Mansour Group is the only non-GCC-based entry. In May 2023,

U.S. Major League Soccer awarded a $500 million franchise to a

group led by Mohamed Mansour to launch a football club in San

Diego, California, by 2025. Group Chairman Mohamed Mansour,

alongside brothers Youssef and Yasseen, had a combined net worth

of $5.8 billion as of February 2024, making them the richest Arab

family featured on this year’s list.

From traditional real estate to hospitality investments, the family

businesses on this list have stood the test of time, with six being

established in the 1800s and 26 established before 1950. Just six

were established in the 2000s, all of which were formed due to a

split or sale of an earlier business or consolidation of pre-existing

assets to form a holding group. For instance, Morocco’s O Capital

Group was founded in 2021 when Holding Benjelloun Mezian merged

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