The Olayan family Net Worth $12 Billion
2010 was a amazing year for Saudi conglomerate Olayan, possessed by the Olayan family. Smart investments across a variety of sectors saw the family’s coffers bulge by some $4bn, which merely goes to demonstrate canny cash deals are equally as powerful in a decline as in the good times.
Any businessman in the Gulf will probably be knowledgeable about the Olayan name. The conglomerate owns more than 50 companies, with hefty stakes in various multinationals and blue chip names like Credit Suisse, in which it last year upped its stake from 3.4 percent to 3.6 percent.
In August 2010, Olayan played an important role in the setting up of a $1bn emerging markets fund with the Swiss banking company. Established in 1947, the Olayan Group started as a trucking concern.
In the 1960s, Suleiman turned to international equity investing, an action which will eventually establish the group as an influential participant in worldwide capital markets. He was additionally developing business alliances, initiating in Saudi Arabia the idea of strategic partnerships and strengthening his relationship with US engineering and construction giant Bechtel.
Also, through GTC he obtained exclusive distributorships for Kimberly Clark, General Foods, Pillsbury, Hunt Wesson, Cummins Engine, Kenworth and Atlas Copco. In 1969, the Group obtained a licence from Kimberly Clark to build the first paper tissue converting plant in Saudi Arabia. The exact same year, GTC created among the first cold storage and meat processing plants in the kingdom, and the group played a leading part with other Saudi and foreign investors to establish a large factory for manufacturing plastic pipe and fittings.
Today, the group has stakes in MetLife, First Boston and American International Group. Alongside Suleiman’s widow Mary, the four children — Khaled, Hayat, Hutham and Lubna — share the group’s multibillion dollar bundle.