- Middle East Business News
Wednesday, 30 September 2020 10:34 UAE time
3#  Nasser Al Kharafi  - picture not available
3# Nasser Al Kharafi

Net Worth: US$ 9.4 Billion
Country of Residence: Kuwait
Industry: Retail
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Nasser Al Kharafi is the chairman of one of the largest and most diversified conglomerates in the Arab world.

His lucrative food division, Americana, has the exclusive franchise rights in the Middle East for fast food brands including KFC, Wimpy, TGI Friday's, Cadbury's, Pizza Hut and Saint Cinnamon. He is also the largest individual stakeholder of popular doughnut company Krispy Kreme.

And around Americana Al Kharafi has built a veritable empire across sectors including construction, manufacturing, an airline and investments that include Kuwait's leading financial institutions and other companies listed on the stock exchange.

With an annual turnover of over US$4bn, the MA Kharafi Group now operates in more than 25 countries around the world and has more than 100,000 employees.

In 1976 Al Kharafi launched Kuwaiti conglomerate the National Company for Mechanical and Electrical Works, and the Al Kharafi Group is now a major player in engineering, construction and maintenance, focusing on petroleum, water, chemicals and power.

The family owns a lucrative 30 percent stake in Atheer Telecom, which owns a mobile licence for Southern Iraq, and significant shares in Mobile Telecommunications Corporation (Zain), through one of its units. However, in November this year, the group said it had agreed to sell a 46 percent stake in Zain to a consortium of Asian investors, and has named BNP Paribas as its adviser in the sale. Meanwhile, National Industries Group, an affiliate of Al Kharafi's conglomerate, said this month that it has filed a lawsuit against a unit of US private equity firm Carlyle Group, over a $25m investment loss.



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