Forbes Alghanim Industries Is The Eighth Most Powerful Family Business In The Middle East

Alghanim Industries ranked among the top 10 family business in the Middle East as per the latest Forbes list. Forbes Middle East will release its list of the Top 100 Family Businesses In The Middle East next week. Ahead of its release, the magazine released the top 10 families lead by Egypt's Mansour group.

According to Forbes, Alghanim Industries is the only entry in the top 10. Founded in 1932, today the group has over 30 businesses in six key segments: automotive, engineering, food, and beverage, industrial, consumer, and services. Among the famous brands under its portfolio are Costa Coffee, Wendy’s, GM, and Ford. With a net worth of $1.3 billion, billionaire Kutayba Alghanim currently sits as the executive chairman of the group.

Forbes states that the family businesses are the backbone of the Middle East’s economies, with some of the largest businesses in the region run by families through private companies. Others in the top 10 include Al-Futtaim Group, Olayan Group, Majid Al Futtaim, Rashed Abdul Rahman Al-Rashed & Sons Group, Abdul Latif Jameel Group, Al-Ghurair, Al-Ghurair Group and Zamil Group Holding.

 

SOURCE : IIK

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