Top 5 Richest People in Saudi Arabia
Discover the top 5 richest people in Saudi Arabia in 2024, including influential figures like Prince Alwaleed Bin Talal, Mohammed Al-Amoudi, and the Al-Rashid family. Explore their vast fortunes built through industries such as oil, real estate, and banking.
Discover the top 5 richest people in Saudi Arabia in 2024, including influential figures like Prince Alwaleed Bin Talal, Mohammed Al-Amoudi, and the Al-Rashid family. Explore their vast fortunes built through industries such as oil, real estate, and banking.
Saudi Arabia is home to some of the wealthiest individuals in the world, many of whom have made their fortunes in diverse industries ranging from oil to real estate and technology. In 2024, these individuals continue to influence the global economy with their vast fortunes. Here’s a look at the top 5 wealthiest people in Saudi Arabia.
Table of Contents
1. Prince Alwaleed Bin Talal Al Saud
Net Worth: $39.8 Billion (approx.)
Prince Alwaleed Bin Talal, a member of the Saudi royal family, will be the richest person in Saudi Arabia in 2024. He has built wealth through investments in various sectors, including real estate, banking, technology, and entertainment. Alwaleed has stakes in major international companies such as Twitter, Citigroup, and the Four Seasons Hotels through his Kingdom Holding Company.
Prince Alwaleed’s diverse portfolio and astute investment strategies have solidified his place as one of the world’s most influential billionaires. Known for his philanthropic efforts, he has also pledged substantial amounts to charity, including initiatives for disaster relief and social welfare.
2. Mohammed Al-Amoudi
Net Worth: $18 Billion (approx.)
Mohammed Al-Amoudi is a Saudi Ethiopian billionaire whose wealth spans industries including construction, oil, and agriculture. With a vast network of companies, his most significant holdings are in Saudi Arabia’s oil sector through his company, MIDROC. Additionally, Al-Amoudi has investments in diverse businesses in Sweden and Ethiopia, where he has significant interests in the agricultural and real estate sectors.
Despite facing challenges in recent years, including a brief detention in Saudi Arabia in 2017, Al-Amoudi remains one of the wealthiest men in the Kingdom and continues to expand his business empire globally.
3. Saleh Kamel (Estate)
Net Worth: $13 Billion (approx.)
Saleh Kamel, who passed away in 2020, was a pioneering businessman and the founder of the Dallah Albaraka Group, a conglomerate interested in banking, real estate, and media. His estate, however, remains one of the richest in Saudi Arabia, with assets continuing to grow under the management of his family. The Dallah Albaraka Group operates businesses in the Kingdom and globally, with a significant presence in financial services, healthcare, and telecommunications.
Despite his passing, the Kamel family’s wealth continues to be a force in Saudi Arabia’s economic landscape, maintaining influence through the family-run conglomerate.
Also Read: Top 10 Richest Muslims in the World, Two Indians in Top 5
4. The Al-Rashid Family
Net Worth: $12 Billion (approx.)
The Al-Rashid family is one of Saudi Arabia’s most affluent families, with wealth rooted in the real estate and construction sectors. The family’s conglomerate, Al-Rashid Group, is a key player in developing commercial and residential properties across the kingdom. They are also involved in various industrial and infrastructure projects, contributing to the Kingdom’s economic growth.
The Al-Rashid family’s holdings and investments continue to grow, making them a prominent name among the wealthiest families in Saudi Arabia.
5. Sulaiman Al Rajhi & Family
Net Worth: $10 Billion (approx.)
Sulaiman Al Rajhi is the co-founder of Al Rajhi Bank, one of the most prominent Islamic banks in the world. His family’s fortune has been primarily built through banking, and the Al Rajhi name remains synonymous with financial success in Saudi Arabia. The family has expanded its wealth through various investments in real estate, agriculture, and other sectors.
While Sulaiman has retired from active business operations, his family continues to manage and grow their wealth, maintaining a prominent position on the list of the wealthiest individuals in Saudi Arabia.
The wealthiest individuals in Saudi Arabia have diversified their investments across numerous sectors, from oil to technology and banking. Their influence extends beyond the Kingdom’s borders, with many strategically investing in global markets. These individuals continue to shape not only the economic landscape of Saudi Arabia but also play a significant role in the worldwide economy.
