Saudi Arabia’s Largest Family Companies
Marcopolis.net has compiled the ranking of the top family holdings in Saudi Arabia. View the list of the largest conglomerates in the country. The largest family owned conglomerates are Bin Laden Group, Savola Group and Saudi Oger.
Top Family Firms in Saudi Arabia
Saudi Arabia’s Largest Family Companies
Marcopolis.net has compiled the ranking of the top family holdings in Saudi Arabia. View the list of the largest conglomerates in the country. The largest family owned conglomerates are the following.
The salient feature of Saudi economy is the presence of large diversified family owned conglomerates. Marcopolis.net tries to rank the most powerful business families in the country. In 2009, there were 45 family-owned Saudi entities in the top 100 Saudi companies. The main challenge for the family business is liberalization of the economy and global competition. In Saudi Arabia, family businesses are estimated to hold around SR 250 billion in domestic investments, with 200 family companies dominating commercial life in all sectors of the economy (source: The Saudi Arabian Economy: Policies, Achievements, and Challengesby Mohamed A. Ramady). The most important economic sectors for the Saudi family owned conglomerates are industry (24%), services (14%) and banking (11%).
According to family busienss magazine, 90% of the companies in the Middle East are family-owned businesses, generate 80% of th region’s GDP, constitute 75% of private sector economic activity and employ 70% of the labor force in the GCC.
The main business families in Saudi Arabia are Bin Laden, Abunayyan, Bin Mahfouz, Al-Esayi, Al Khereiji, Rajab, Juffali, Alireza, Al-Rajhi, Al Rashid, Algosaibi, Bughshan, Al-Turki, Tamimi, Kaaki, Olayan, Al-Sulaiman, Khashoggi, Al Muhaidib, Kamel, Zahid, Sharbatly, Shobokshi, Al Zamil, Naghi, Suwaiket, Rushaid, Baeshen, Saedan, Binzagr, Al Jomaih, Jeraisy, Fakieh, Qahtani, Bahrawi, Babtain, Fitaihi, Gazzaz family and many other.
The evolution of the big families dates back to 17th century. The oldest merchant families in Jeddah such as the Zahids, Alirezas and al-Rajhis, al-Rashids, Umrans in the Central Province, and Algosaibis, al-Turkis and Tamimis in the Eastern Province, enjoyed a privileged status because of their support to the Saudi state. Established merchant families benefited from the good relations with the King, gaining concessoins for the supply of specific goods.
Second type of big families were those that established good links with the King Abdulaziz during 40s and 50s, and were able to obtain key agencies and construction contracts through their contacts or skills. Families that belong to this group are Abunayyans, al-Esayis, Bin Ladens, Bin Mahfouzs and others. Third group of large families emerged in the Eastern Province and benefited from the ties with ARAMCO, amongst these families were Olayans. Last group of families such as al-Sulaimans, Khashoggis and Pharaons emerged as advisers to the King.
The List of Top Family Companies in Saudi Arabia by EY
| Rank | Company | Country | Industry | Family | Description |
|---|---|---|---|---|---|
| 1 | Saudi Arabia | Construction | Bin Laden | The largest family owned company in Saudi Arabia. | |
| 2 | Saudi Arabia | Agriculture | Al-Muhaidib Al Subeaei |
The Savola Group was established in 1979, with the objective of manufacturing and marketing edible oil and vegetable ghee in Saudi Arabia. | |
| 3 | Saudi Arabia | Construction | Hariri | Saudi Oger has become one of the leading Construction, Facilities Management Service Provider and Infrastructure Project Development companies in The Kingdom of Saudi Arabia and the region. | |
| 4 | Diversified | Kamel | The company is best classed as a conglomerate with investments including the financial, banking, healthcare, real estate, manufacturing, transportation, and operations and maintenance sectors. | ||
| 5 | Banking | Al Rajhi | The largest bank in Saudi Arabia, Al Rajhi Banking & Investment is also the world’s largest Islamic bank. Operating as Al Rajhi Bank, it operates more than 400 bank branches, including 100 branches solely serving women, and 2,000 ATMs across the country. | ||
| 6 | Diversified | Jameel | Abdul Latif Jameel is comprised of diversified businesses with deep roots in the Middle East, North Africa, and Turkey (MENAT region). |
Families in Saudi Arabia by Arabian Business
| Rank | Family | Country | Industry | Description |
|---|---|---|---|---|
| 1 |
Olayan Family |
Saudi Arabia | Diversified | One of the most powerful business families in Saudi Arabia. The family traces its success to the close relations with ARAMCO, and build their wealth on the supply of goods to ARAMCO. |
| 2 |
Al Rajhi Family |
Saudi Arabia | Banking | Well established merchant family from the Central Province. Their origins are money changes for pilgrims taking camel caravans across the desert to the cities of Macca and Medina. The patriarch of the family was a money-changer in the Riyadh suq. |
| 3 |
Bin Ladin Family |
Saudi Arabia | Construction | One of the most prominent families in Saudi Arabia. They trace the origins to the lucrative construction contracts with the Saudi state. The family is Jeddah based. |
| 4 |
Bugshan Family |
Saudi Arabia | Diversified | A prominent merchant family from the Western Province. |
| 5 |
Al Juffali Family |
Saudi Arabia | Diversified | The family traces its origins to Nejd. |
| 6 |
Naghi Family |
Saudi Arabia | Diversified | The family traces its origins in Jeddah. The patriarch of the family started to do business in 1911. |