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#260 Sultan Al Kabeer $6.12B

Random fact: Conducts more than 10,000 quality tests daily.

Overview

Al Kabeer is the chairman and largest individual shareholder of Almarai, the biggest food and beverage company in the Middle East. The Riyadh, Saudi Arabia-based company sells milk, cheese, poultry and other products throughout the Arabian Peninsula. He also has shares in Yamamah Saudi Cement and insurer Arabian Shield.

As of July 23, 2017:
Last change No change
YTD change +$1.16B (+23.5%)
Industry Consumer
Biggest asset ALMARAI AB Equity
Citizenship Saudi Arabia
Age 62
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Sultan Al Kabeer's net worth of $6.12B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Al Kabeer's fortune is derived from investments in three publicly traded companies. He holds 23.7 percent of Almarai, according to the company's 2016 annual report. Almarai is the largest food and beverage manufacturer and distributor in the Middle East, according to the same annual report.

Filings with the exchange website show he also owns 9.1 percent of Yamamah Saudi Cement directly and 14.3 percent of Arabian Shield, a Saudi insurance firm. He holds his stake through a 47.5 percent interest in Arabian Shield through Bahrain-based Arabian Shield Insurance Co. EC, according to the company's 2011 annual report.

The value of his cash holdings is based on an analysis of dividends, insider transactions and market performance. His racehorse farm outside Riyadh hasn't been included in the net worth calculation due to a lack of available financial information.

Hussam Abdul Qader, a spokesman for Almarai in Riyadh, declined to comment on Al Kabeer's net worth.

Biography

Birthdate: 1954
Family: Unknown, No children
Education: 1969, King Saud University, Bachelor's Degree

Prince Sultan bin Mohammed bin Saud Al Kabeer was born in 1954 in Saudi Arabia. He is a descendant of Saud Al Kabeer, a first cousin of King Abdulaziz -- also known as Ibn Saud -- the first Saudi monarch. The Al Kabeer family line is considered one of the most senior and influential branches of the royal family. Prince Sultan's father, Prince Mohammed bin Saud Al Kabeer, was the oldest son of Saud Al Kabeer. He was considered an expert on tribal loyalties and rivalries, and on Arabian horses, according to Sharaf Sabri, author of the 2001 book, "The House of Saud in Commerce: A Study of Royal Entrepreneurship in Saudi Arabia."

The Al Kabeer family was known for being active in business. Prince Sultan's father and uncles held stakes in numerous Saudi companies that operated in real estate, agriculture, manufacturing and construction. The family's close ties to Saudi leadership -- first King Fahd, then King Abdullah -- helped them amass influential business interests. Their connections gave them access to business ventures or handouts in the form of land or money.

After receiving a bachelor's degree from King Saud University in Riyadh, Al Kabeer became an active investor in the country's burgeoning economy. He partnered with Masstock Group Holdings, an Irish farming-systems company owned by two brothers, Alistair and Paddy McGuckian, to found dairy processor Almarai Company in 1977. Soaring oil prices had led the Saudi government to fear the possibility of reverse boycotts by important agricultural exporters -- such as the U.S. -- and Almarai was an initiative to make Saudi Arabia more self-sufficient in food production. The company was the first to package milk in the country and over the next 30 years its product line expanded to include cheese, fruit juice, chickens, baked goods and infant formula.

While Almarai is Al Kabeer's most prominent investment, he also serves as chairman of insurer Arabian Shield and Yamamah Saudi Cement Company. According to his Almarai corporate bio, he helped found a total of 20 Persian Gulf companies, including Bahrain's Arcapita Bank and Sharjah, United Arab Emirates-based Dana Gas PJSC. Like his father, Al Kabeer is an avid horseman. According to his profile on the Breeders' Cup website, he owns more than 100 thoroughbred racehorses that train on his stud farm outside Riyadh. His son, Prince Naif bin Sultan bin Mohammed bin Saud Al Kabeer, also serves on the board of Almarai.

Milestones
  • 1954 Prince Sultan al-Kabeer is born in Saudi Arabia.
  • 1977 Partners with Masstock Group Holdings, founds Almarai Co.
  • 1983 Becomes involved with European racing, sends horses to France to train.
  • 1984 Wins first big horse race, France's Prix de Pomone, with Marie de Litz.
  • 2004 Masstock's McGuckian brothers sell the last of their stake in Almarai Co.
  • 2005 Almarai sells shares in a public offering on the Saudi stock exchanges.
  • 2007 Enters baked goods market with purchase of Jeddah-based Western Bakeries.
  • 2007 Annual revenue at Almarai exceed $1 billion for the first time.
  • 2009 Expands Almarai's product line with poultry brand Alyoum.