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\nRIYADH: Saudi companies led the pack in the annual list of Forbes Top 100 Arab Family Businesses with 37 entries, followed by the UAE and Kuwait with 25 and eight entries, respectively.<\/p>\n
\nAccording to the Forbes press release, these three countries constituted 75 percent of the top 20 in the list. In addition, all family businesses in the top 10 were diversified companies with operations in multiple sectors.<\/p>\n
\nThe Olayan family, which runs one of Saudi Arabia\u2019s biggest conglomerates, was ranked the No. 1 Arab family business for the second year in a row.<\/p>\n \nFounded in 1947, the Olayan Group comprises more than 50 companies and affiliated businesses. Egypt\u2019s Mansour Group and UAE\u2019s Al-Futtaim Group were the other two groups that clinched the podium finish.<\/p>\n \nOlayan Financial Co.\u2019s investments in the public sector make the largest portion of the group\u2019s portfolio, as it owned 20.3 percent of the Saudi British Bank in July 2022.<\/p>\n \n\u2022 The release stated that of the top 100 family-run companies in 2022, eight were owned by Arab billionaires. <\/strong><\/p>\n \n\u2022 Algeria-based Cevital Group\u2019s founder Issad Rebrab had a net worth of $5.1 billion as of August 2022, making him the second richest Arab in the world.<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n \nMansour Group has also been in the spotlight for its humungous reach spanning 100 countries with over 60,000 employees and total revenues exceeding $7.5 billion.<\/p>\n \nThrough its investment arm, ManCapital, Mansour Group has shares in global companies like Spotify, Uber, Airbnb, Meta, Twitter and others.<\/p>\n \nOther Saudi companies also made it to the top 10, with Al Muhaidib Group ranking fourth, Abdul Laitf Jameel in seventh and Rashed Abdul Rahman Al Rashed and Sons Group ranking 10th.<\/p>\n \nFrom a geographical standpoint, Qatar-based companies had seven entries, Egypt had six, Oman six, Bahrain had four, Jordan had two, Morocco had two and Algeria, Lebanon, and Yemen all had one entry each.<\/p>\n \nAt the ninth position, Al Faisal Holding is the only newcomer to this year\u2019s top 10 businesses, up from 11th place in 2021, the press note said. In May 2022, it launched a new subsidiary offering production services, Metaserra, a joint venture with Turkey\u2019s Doludizgin.<\/p>\n \nDiversified business corporations dominated the ranking with 89 entries. For instance, Al Futtaim Group has built a legacy out of its operations in the automotive, finance, real estate, retail and healthcare sectors.<\/p>\n \nThe group operates in over 20 countries with 35,000 employees and has significant shareholdings in Emirates Investment Bank, Commercial Bank of Dubai and the Dubai Insurance Co.<\/p>\n \nAbdullah Al Futtaim and his family also had a net worth of $2.5 billion in August 2022.<\/p>\n \nThe release further stated that of the top 100 family-run companies in 2022, eight were owned by Arab billionaires. For instance, Algeria-based Cevital Group\u2019s founder Issad Rebrab had a net worth of $5.1 billion as of August 2022, making him the second richest Arab in the world.<\/p>\n \nTo construct this list, Forbes Middle East only considered private businesses or holding companies jointly owned or operated by Arab families. The conglomerates were ranked on their holding size and performance, business activity, age, legacy, and how diversified the business is in terms of geography and sector.<\/p>\n<\/div>\n\nFAST<\/span>FACTS<\/strong><\/h4>\n<\/p>\n