Suleiman Al Habib is the third richest person from a non-royal family in the Middle East
Dubai – Al Arabiya.net
Published on: 25 January 2024: 16:36 GST Last updated: 25 January 2024: 17:37 GST
Saudi doctor Sulaiman Al-Habib’s fortune approached $12 billion on Thursday, with the rebound in shares of his healthcare group “Sulaiman Al-Habib”, returning him to the list of the richest people in the Middle East.
Shares in Sulaiman Al Habib’s company, which bears his name, rose 30% after hitting a one-year low in October. That made Al-Habib – who founded the company and owns a 40% stake – the third richest non-royal person in the Middle East, according to the Bloomberg Billionaires Index.
The stock has risen 6x since its initial public offering in 2020, putting it within striking distance of a record high. Since listing, the stock’s performance has outperformed the Saudi benchmark Tadawul index, which has doubled over the same period.
The billionaire, who is in his early 70s, has transformed the $28 billion healthcare chain from a single clinic opened in 1993 to a company that operates 22 medical facilities and 22 pharmacies in Saudi Arabia, the United Arab Emirates and Bahrain. The company has 10 hospitals and medical centers under development.
It also invests in commercial real estate through a holding company, according to Dr. Sulaiman Al Habib Medical Services Group’s IPO prospectus.
Al-Habib graduated with a degree in medicine and surgery from King Saud University in Riyadh in 1977 and completed his pediatric fellowship at the British Royal College of Physicians in 1984. He served as chief physician and head of the pediatric department in two government-owned hospitals. in Riyadh.
Al-Habib is the fifth richest doctor on the Bloomberg index and one of the few doctors ranked among the richest people in the world. At the top of the list of the richest doctors in the world is Miriam Adelson, with a net worth of 34 billion dollars, while Thomas Frist, co-founder of the HCA Healthcare hospital network, has a net worth of around 25 billion dollars.
The Saudi businessman has created one of the world’s largest health-related empires, rivaling Karl Kok and Hansjörg Weiss, who amassed fortunes of more than $10 billion selling medical devices, according to the Bloomberg Index.
2024-01-25 12:36:00
#Arab #doctor #among #richest #world
