Forbes Middle East has released its annual list of the strongest 100 Arab family companies for 2021, showcasing some of the most remarkable business success stories in the Middle East. The list highlights many companies that have helped shape the region and passed on their legacy through generations.
Saudi companies dominated the list with 36 companies from the Kingdom, followed by the United Arab Emirates with 25 companies, and Kuwait with 7 companies. The list was topped by the Al-Olayan Group from Saudi Arabia, founded by Suleiman Al-Olayan as a contracting and trading firm in the Kingdom. Today, the group owns a diverse portfolio of commercial, industrial, and investment businesses. It is followed by the Mansour Group from Egypt and the Majid Al Futtaim Group from the UAE, making up the top three positions on the list.
Additionally, companies involved in various commercial activities, referred to as "groups that invest in different sectors and geographical locations," comprised 87 of the list. The only company among the top 10 that does not operate in diverse sectors is Aseel Investment Group, based in Saudi Arabia. Notably, both Aseel and Mohammed Ibrahim Al Subaie and Sons Investment Company (MASIC) are among the youngest companies on the list, having been established in 2010. The oldest ranked family company is WJ Towell & Co from Oman, founded in 1866.
Among the top 100 family companies in 2021, 32 of the chairpersons are original founders or co-founders of the companies, with only three companies headed by women: Mohsen Haider Darwish led by sisters Areej and Lujain Mohsen Darwish, the Al-Olayan Group managed by Hutham Al-Olayan, and Yasmin Khamis, chairperson of the Eastern Group.
For the compilation of this list, Forbes Middle East included family-owned or jointly managed businesses fully owned by Arab families. Companies listed on stock exchanges were not categorized as family-owned businesses, but rather as investments of family holding groups. Information was gathered from stock exchanges, reports from consulting firms and universities, alongside other primary sources. The ranking was based on several metrics, including the size of investments, asset value and performance, the age and legacy of the company, sector diversification, and geographical reach.
Countries on the List:
- Saudi Arabia: 36
- United Arab Emirates: 25
- Kuwait: 7
- Bahrain: 6
- Egypt: 5
- Lebanon: 2
- Oman: 5
- Qatar: 5
- Jordan: 4
- Morocco: 2
- Algeria: 1
- Tunisia: 1
- Yemen: 1
Top 10 Companies:
1. Al-Olayan Group
Country: Saudi Arabia
Established: 1947
Sector: Diverse
2. Mansour Group
Country: Egypt
Established: 1952
Sector: Diverse
3. Majid Al Futtaim
Country: UAE
Established: 1992
Sector: Diverse
4. Al Ghurair Investment
Country: UAE
Established: 1960
Sector: Diverse
5. Al-Futtaim Group
Country: UAE
Established: 1930
Sector: Diverse
6. Al Muhaidib Group
Country: Saudi Arabia
Established: 1943
Sector: Diverse
7. Rashid Abdul Rahman Al Rashid & Sons
Country: Saudi Arabia
Established: 1950
Sector: Diverse
8. Abdul Latif Jameel
Country: Saudi Arabia
Established: 1945
Sector: Diverse
9. Aseel Investment
Country: Saudi Arabia
Established: 2010
Sector: Investments
10. Al Ghurair Group
Country: UAE
Established: 1960
Sector: Diverse
