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# Saleh Kamel

Random fact: First business was making photocopies for college classmates.

Overview

Kamel is founder and owner of Dallah Albaraka, a Jeddah-based holding company that operates in food distribution, real estate and media in Saudi Arabia. He also owns controlling stakes in Bahrain-based Islamic finance company, Albaraka Banking Group and Saudi medical services provider, Dallah Healthcare.

As of June 18, 2018:
Last change ()
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Industry Diversified
Biggest asset N/A
Citizenship Saudi Arabia
Age 76
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Saleh Kamel's net worth of can buy ...

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troy ounces of gold
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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

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Biography

Birthdate: 1941
Family: Married, 2 children
Education: MBA, King Abdulaziz University Bachelor's Degree, Commerce, University of Riyadh

Sheikh Saleh Abdullah Kamel was born in Taif, Saudi Arabia in 1941. He studied business administration at King Abdul Aziz University where he started his first business. He borrowed money to buy a photocopy machine and would sell copies to his classmates at a time when copiers were popular but too expensive to buy in Saudi Arabia, according to a 2013 interview Kamel gave to Arab News.

Kamel joined the Saudi Ministry of Finance after graduating college and later left his public position to establish his own company, Dallah, in 1969. Specializing in cleaning and maintenance services, Dallah was the first non-state owned company to offer services as a product. The group later expanded to include the Kingdom's first driving schools, bus services for Hajj pilgrims, food distribution, media and healthcare.

Considered to be one of the pioneers of modern Islamic finance -- banking and investing practices that follow principles of Shariah, or Islamic law -- Kamel founded Albaraka Banking Group in 2002 as a holding entity for his various Islamic banks and financial institutions. The company sold shares on the Bahrain Stock Exchange in 2006. Six years later, Kamel listed Dallah Albaraka's healthcare division, Dallah Healthcare, on the Saudi stock exchange, raising almost $144 million.

The billionaire lives in Saudi Arabia with his wife and children.

Milestones
  • 1941 Born in Taif, Saudi Arabia.
  • 1963 Graduates from King Abdulaziz University with a degree in business.
  • 1969 Founds Dallah Albaraka in Riyadh, Saudi Arabia.
  • 1993 Receives "Gulf Businessman Award."
  • 2002 Founds Albaraka Banking Group in Bahrain.
  • 2006 Sells shares of Albaraka Banking Group on Bahrain Stock Exchange.
  • 2012 Opens first Godiva chocolate store in Saudi Arabia.
  • 2015 Son Abdallah opens Islamic Law and Civilization Center at Yale University.