Tuesday, 25 March 2008

Arab bourgeoisie

Sursock's Top 5 members of the Arab bourgoisie.

1) Prince Alwaleed Bin Talal al Saud
Alwaleed's business empire, through Kingdom Holdings, stretches across four continents. It has held stakes in Apple Computers, News Corporation, Fairmont Hotels and Saks Fifth Avenue. His shareholding in the world's biggest bank, Citigroup, is valued at nearly $10bn.

He is also in line to snap up $200m of apartments in London's West End.

2) Mohammed Ali Alabbar, chairman of Emaar Holdings
The group's profits for 2006 were up a record 35 percent to $1.735bn, and there are now rumours of even greater expansion plans in China and South East Asia.

3) Sheikh Ahmed Bin Saeed al-Maktoum, chairman of Emirates Airline
Emirates has been in profit for 18 consecutive years, last year achieving $762m on a turnover of nearly $7bn.

4) Sultan Bin Sulayem, chairman of Dubai World
Having managed to complete the $7bn takeover of P&O, Bin Sulayem has seen his influence on the shipping world grow.

He also heads real estate giant Nakheel, the developer behind the World and Palm projects off the coast of Dubai.

5) Sulaiman Abdul Aziz al-Rajhi, banker
Al-Rajhi holds the largest individual stake in his family's Al Rajhi Bank, which has consistently reported the most profitable operations among all of Saudi Arabia's banking groups.

A co-founder of the bank, he also boasts the country's biggest poultry farm, a building materials business and real estate.

The family have diversified family investments into gypsum, agriculture, steel and other industrial sectors. The Al Rajhi are Saudi Arabia's wealthiest non-royals.

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