Top Five Richest People in Kuwait 2015

Arab nation Kuwait is a high-income economy. The Kuwaiti dinar is the most valuable currency unit in the world. Even though Kuwait has a petroleum-based economy, the nation was the pioneer in the Middle East in diversifying its earnings away from oil exports. This tiny nation has its own billionaires.
Here are the top five billionaires of Kuwait.

5) Kutayba Alghanim (Net worth: $1.05 billion)

Kutayba Alghanim and his brother Bassam Alghanim inherited Alghanim Industries from their father. The company sells General Motors among other things. The brothers share a strained relationship and have fought over the division of assets of the family business. In the year 2005, the feud intensified when Kutayba’s son Omar took over the reigns of the company.

4) Bassam Alghanim (Net worth: $1.05 billion)

This 63-year-old Los Angeles-based billionaire inherited the company Alghanim Industries from his father. The company has a major stake in Gulf Bank of Kuwait.

3) Mohannad Al-Kharafi (Net worth: $1.25 billion)

Mohannad Al-Kharafi inherited a stake in the Kharafi Group from his father Mohammed. The Kharafi Group has more than 100,000 employees all over the world.

2) Jassim Al-Kharafi (Net worth: $1.25 billion)

Jassim, Nasser and six other siblings inherited the Kharafi Group from their father Mohammed. Jassim is the chairman of the group.

1) Fawzi Al-Kharafi ( Net worth: $1.25 billion)

Fawzi Al-Kharafi is the vice chairman of the Kharafi Group, which is one of the largest holding companies in the Middle East. The members of the Kharafi family are major shareholders in many Kuwaiti companies, including National Bank of Kuwait and Zain.
In the past five years, there has been a significant rise in entrepreneurship and small business start-ups in Kuwait. Don’t be surprised if there is an increase in the number of billionaires in Kuwait in the near future.