Al Muhaidib Group tops Forbes Arab Family Businesses list

13/05/2025 02:48 AST

Saudi Arabia's Al Muhaidib Group, led by Group Chairman Sulaiman Al Muhaidib, takes the top spot in the Forbes Middle East Top 100 Arab Family Businesses 2025 list, rising rising from eighth place last year.

Returning to second place is Abdul Latif Jameel, spearheaded by Chairman Mohammed Abdul Latif Jameel, while the Al-Futtaim, helmed by Vice Chairman and CEO Omar Al Futtaim, rounds out the top three.

Forbes Middle East unveiled its annual ranking of the Top 100 Arab Family Businesses for 2025, spotlighting the region's most influential dynasties navigating transformation and innovation while preserving generational wealth.

To compile this ranking, Forbes Middle East evaluated companies that are owned or managed by Arab families. The selection was based on several factors, including the size and value of their assets, business performance, recent activity, company age and legacy, and the breadth of their geographic and sector diversification.

GCC-based families continue to dominate the Arab family business landscape. This year, Saudi Arabia leads with 33 entries, followed closely by the UAE with 32, and Qatar with eight. Collectively, these countries account for over 73% of the ranking.

The Al Muhaidib Group made headlines in February 2025 when the Public Investment Fund acquired a 30% stake in its subsidiary, Masdar Building Materials.

Others in the top 10 include Mansour Group, Damac Group, Olayan Financing Company, Majid Al Futtaim, Al Ghurair, Al Faisal Holding, and Power International Holding. Notably, Egypt's Mansour Group remains the only non-GCC-based conglomerate in the top 10.

Two newcomers have entered the top 10 elite cohort this year: Power International Holding and Al Faisal Holding, both based in Qatar, reflecting the growing economic influence of Qatari family businesses.

While many listees were founded before the 1950s - including some with 19th-century origins - others are newer entities born of strategic mergers or spin-offs. Morocco's O Capital Group and Saudi Arabia's Sultan Holding Company exemplify this trend, showcasing how legacy families continue to evolve and consolidate to meet modern demands.

Sustainability and innovation are at the heart of several family firms' strategies. Alghanim Industries introduced electric vehicles to Kuwait, and AW Rostamani Group brought EVs to the UAE, signaling a regional shift toward cleaner energy solutions.

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