Forbes Middle East - English - September 2022
Forbes Middle East - English - September 2022
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In this issue
Forbes Middle East - September 2022 - English
World’s Top 5 Ultra-Rich Families
The world’s wealthiest families have amassed fortunes either from inheriting businesses, or from building multibillion-dollar empires from the ground up for next-in-line successors. Here are the world’s richest billionaire families according to Forbes data, with net worths as of August 10, 2022.
2 mins
5 Countries Gaining Millionaires
Millionaires are on the move. According to a report by Henley & Partners, 88,000 millionaires are expected to relocate to new countries by the end of 2022. This is a 252% increase compared to 2021, but still 22,000 fewer than in 2019. Here’s a look at the top five countries gaining millionaires this year.
2 mins
In Numbers: Following The Generational Wealth Of The Rich
Wealth enhancement, preservation, and succession are crucial parts of family planning for wealthy individuals and their families. The degree to which wealth holdings are self-made or shaped by inheritance can also substantially impact the next generation’s outlook and priorities.
2 mins
Money Heap
Garbage was the ultimate commodity business until a young McKinsey consultant saw how REPUBLIC SERVICES could transform itself into a profit machine by pricing trash at a premium. Now he’s CEO and Bill Gates is cashing fat dividend checks.
4 mins
Cloud Pipe Dream
Let others worry about what it all means. FIVETRAN is proving there’s a fortune to be made just by piping data from place to place.
5 mins
TRENDSETTERS
Egypt’s Oriental Weavers was taken over by the second generation of the Khamis family, spearheaded by sisters Yasmine and Farida, in 2020. They’re striving to build on the legacy of their father, Mohamed Farid Khamis, while continuing to be a global player in the rug and carpet business.
8 mins
FUEL FUTUREPROOFING
Majid Jafar, CEO of Crescent Petroleum and Vice-Chairman of the Crescent Group, has a center-stage view of a global energy crisis. With an eye on the bigger picture, his more than 50-year-old U.A.E.-based family business is investing heavily in oil and gas to accelerate the transition away from fossil fuels.
7 mins
POWERING UP
Having been with his family business for over 40 years, Hussain Al Nowais, Chairman of AlNowais Investments, knows how to leverage opportunities. Right now, his focus is on Africa and green energy.
6 mins
THE MIDDLE EAST’S TOP 100 ARAB FAMILY BUSINESSES
Arab family businesses in the Middle East have so far this year seen many of the fields they are most active in—including retail, real estate, energy, and industrials—welcome a V-shaped recovery. And these businesses are themselves continuously evolving. While they still invest in their traditional businesses they are also moving towards new-age industries, investing in startups and, in some cases, founding their own new enterprises.
10+ mins
THE MIDDLE EAST’S TOP 30 ASSET MANAGEMENT COMPANIES 2022
Last year was a great year for asset management companies in the Middle East, thanks to the performance of the region’s stock exchanges, which have created over $1 trillion in wealth since the beginning of 2021. The total market cap of the Middle East’s stock exchanges stood at $4.5 trillion as of July 31, 2022, compared to $3.2 trillion in December 2020. Among the largest indices, the ADI (Abu Dhabi Exchange) and the Saudi TASI gave the most returns, appreciating 68.2% and 29.8% in 2021, respectively. Syria’s Damascus Stock Exchange Weighted Index (DWX) appreciated 116.4% in 2021, making it the region’s best-performing index, according to the Arab Federation of Capital Markets.
10+ mins
Forbes Middle East - English Magazine Description:
Publisher: Forbes Middle East
Category: Business
Language: English
Frequency: Monthly
Forbes Middle East is here to fill the vacuum for credible, original and intelligent journalism. Forbes Middle East's Arabic and English versions will reach out to all senior business executives and aspiring individuals who want to succeed!
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