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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.

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.

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.

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.

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.

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.

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.

A Wander Through Bangkok’s Bustling Streets

Thailand’s famous capital city ignites all the senses as its evolving skyline entices a growing number of international visitors.

TOP 25 FINTECH COMPANIES 2022

From e-payments to open banking and crypto-assets exchanges, Fintech companies are booming across MENA, driven by high demand from a young and increasingly digital-first population.

DREAMING BIG

Fresh from securing $36.7 million in new funding, Muhannad Ebwini, Founder and CEO of Saudi’s HyperPay, is now looking at regional expansion. New products and a potential IPO are on the horizon.

RIGHT PLACE, RIGHT TIME

Abdullah Aldabbous, Founder and CEO of MyFatoorah, hit on an opportune idea at an ideal moment when he set up the Kuwait-based digital payments gateway in 2016. Having seen business boom in recent years, he’s now thinking of new ways to innovate.

POWERHOUSE

Saeed Mohammed Al Tayer, Managing Director and CEO of the Dubai Electricity and Water Authority (DEWA), led the utility provider to raise $6.1 billion in an IPO in April, making it the largest company on the Dubai Financial Market. IPO activity among state-owned companies is heating up in the Middle East.

How Two Africans Overcame Bias To Build A Startup Worth Billions

A pair of twentysomethings from Uganda and Ghana thought there was a fortune to be made bringing transnational financial services to Africa’s 1.4 billion people. With 5 million users, San Francisco-based Chipper Cash is just getting started.

The Great Resignation Hits The C-Suite

Burnout, inflation, and fears of recession are some factors reportedly leading to a higher rate of exits at the top level.

5 GCC Exchange Houses Going Digital

Many GCC-based exchange houses are embracing digital transformation and now process transactions through traditional branches and online apps. These are the top five, taking into account the value of their transactions in 2021, the number of app downloads, and number of users.

Middle East Banking M&As

M&A activity in MENA increased 11% in Q1 2022, reaching a total value of $21.1 billion, according to data from Refinitiv. The most active was the U.A.E., which saw a 5% increase in M&A activity to reach a total of $4.3 billion. Here are four of the most notable Middle East M&As in banking in H1 2022.

The World’s 5 Biggest Banks In 2022

There were 292 banks on the Forbes Global 2000 list for 2022. They held collective assets worth $113 trillion—over 19% of which belong to the top five. With $22 trillion in combined assets as of April 2022, here are the world’s top five banking titans.

SUSTAINING GROWTH

Ahmed El-Hoshy, CEO of fertilizer exporter Fertiglobe and producer OCI N.V., has a couple of issues on his mind: maximizing supply to a world on the brink of a global food security crisis and minimizing its impact on the environment. As Fertiglobe's market cap more than doubles, it seems to be in hand.

Naladhu Private Island Maldives

When I hear the phrase “the perfect getaway,” the image that immediately flashes to my mind is one of deep blue oceans, golden sand, and the sound of waves crashing against a shore.

Top 5 Countries Most Interested In NFTS

The market for non-fungible tokens (NFTs) is in its infancy, but many investors have been quick to jump on the bandwagon. Total NFT sales between the start of January and end of April 2022 stood at $37 billion, according to a report from blockchain analysis firm Chainalysis, compared with $40 billion for the whole of 2021. Here are the top five countries that made the most NFT-related searches between June 2021 and May 2022, according to the NFT Club.

TOP 100 CEOs IN THE MIDDLE EAST 2022

Irrespective of the economic environment, market conditions, and other factors, it is the CEO who bears most of the responsibility for the success or failure of the company they lead.

OLD UNICORN NEW TRICKS.

Billionaire brothers John and Patrick Collison built Stripe into one of the world's most-hyped, highest valued - and profitable! - startups, worth some $95 billion. Now they must stave off going from disruptor to disrupted.

NEW CHAPTER

Dana Nasser Al Sabah, Group CEO of the Kuwait Projects Company (Holding)-KIPCO- had a tough job ahead of her when she took the role at the beginning of the year. As she leads the company through a vital new merger, she's looking to further M&A activity to boost the company's performance.

FACILITATOR

In a region that seems eternally under construction, the potential for growth in the facility management sector increases with every new building opened. Under Group CEO Tariq Chauhan, Dubai's EFS is becoming a key playe serving multinationals and governments across MEA, Turkey, and South Asia.

CEOs Of MENA's Biggest Wealth Funds

Meet the heads of the region's most successful and asset-rich sovereign wealth funds. We compiled this list based on the size of the fund (according to data from the Sovereign Wealth Fund Institute), the strategic importance of its portfolio to the country, and the prominence of the fund's CEO.

A LEAGUE OF THEIR OWN

Tiger Woods and LeBron James are the first athletes to become billionaires while still active in their sport-paving the way for a new generation of player-tycoons.

10 Notable CEO Appointments In H1 2022

Here are 10 companies that have appointed new CEOs in the first half of 2022 to help get them through a challenging post-pandemic era.

Top 5 Arab Companies On Forbes Global 2000

On this year's Global 2000 list by Forbes-a ranking of the largest 2,000 companies in the world based on assets, profits, revenues, and market value-41 companies featured from MENA. Here are the top five.

TOP 50 LISTED COMPANIES IN EGYPT 2022

TOP COMPANIES IN EGYPT

THE MIDDLE EAST'S TOP 100 LISTED COMPANIES 2022

While the global economy feels the pressure of unprecedented inflation and the economic unrest caused by the ongoing war in Ukraine, the Middle East's listed companies have been outperforming, with the top 100 listed companies pocketing $201.7 billion in total net income during 2021, an increase of over 121% compared to $91 billion in total net income in 2020.