Bloomberg Billionaires Index

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#509 Saleh Kamel $3.81B

Random fact: Owns a stake in Belgian chocolate brand Godiva.


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 July 21, 2017:
Last change +$6.17M (+0.2%)
YTD change +$148M (+4.0%)
Industry Diversified
Biggest asset Dallah Albaraka
Citizenship Saudi Arabia
Age 75
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Saleh Kamel's net worth of $3.81B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

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

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

Kamel's most valuable asset is Dallah Albaraka, the Jeddah-based holding company he founded that operates in finance, healthcare, transportation, services, food distribution, media, real estate and tourism in Saudi Arabia. The closely held group had 2.5 billion riyals ($673.5 million) of revenue in 2013, the most recent information available, according to Orbis, a datbase of company information published by Bureau van Dijk. He and his immediate family are the sole owners of the conglomerate, according to the 2006 prospectus for its subsidiary, Albaraka Banking Group. Kamel is credited with ownership of the company because he is the founder.

Through Dallah Albaraka, Kamel has stakes in three publicly traded companies. Directly and through Dallah, he owns 55 percent of Bahrain-based Albaraka Banking Group, according to the company's 2015 annual report. Through Dallah he also owns a 55 percent stake in Saudi Arabia-based Dallah Healthcare and a 50 percent stake in Aseer Trading Tourism and Manufacturing, according to Saudi stock exchange data.

Dallah Albaraka's valuation is based on its 2013 revenue, less the 2013 revenue of its publicly traded subsidiaries, above. It's valued using an average of two valuation methods: one times 2013 sales and a peer analysis using the average enterprise value-to-sales and enterprise value-to-Ebitda of two peer companies, Abdul Mohsen Al Hokair Tourism and Development and Dur Hospitality.

The value of his cash investments is based on an analysis of insider transactions, taxes, dividends and market performance.

Multiple e-mails and phone messages left at the chairman's office at Dallah Albaraka in Jeddah were not returned.


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

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.

  • 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.