Family businesses are an essential pillar of the Middle East economy. It has grown strongly over the past years, becoming one of the largest companies in the region.
In view of the important role of family businesses and their contributions to the economies of Middle Eastern countries, Forbes Middle East will publish the list of “the 100 most powerful Arab family companies in the Middle East 2020” tomorrow on the website.
Today, the Saudi economy is the largest in the region, and it contains many large companies, whether governmental or public circulating in the Saudi financial market, or at the level of family companies that manage the investments of well-known Saudi families in the field of business and succeeded in converting from just small local family companies to international companies capable To compete globally, here are the 10 strongest Saudi families of 2020.
The Olayan Group is the strongest among Saudi family businesses. The Olayan family owns 4.93% of Credit Suisse Swiss and 18.24% of the Saudi British Bank.
It is followed by Rashid Abdul Rahman Al-Rashed and Sons Group which is one of the largest private sector investors in the Saudi capital market.
The Abdul Latif Jameel Group is one of the largest distributors of Toyota cars around the world, and today it operates in 30 countries in the Middle East, North Africa and Turkey.
The research team analyzed the data of 200 Arab family-owned companies in the region, and adopted the following criteria in classification:
The Group’s investments in local and international money markets and real estate assets.
Diversity in business, and the number of sectors in which the group’s business is heavily active.
The type of business activities and their extent affected by the current crisis.
Number of Employees.
The geographical distribution of the group, and the number of countries in which its business is active.
Date of Establishment.