Kanoo family makes rich list of Arabs




A BAHRAINI family has been named among the world’s richest Arabs by Arabian Business magazine.

The Kanoo family, with an estimated wealth of $6 billion (BD2.26bn), was ranked 14th in the magazine’s ‘World’s Richest Arabs 2014’ list.

The Kanoo Group, established in Bahrain in 1890, now has 14 divisions and employs more than 2,000 staff with activities ranging from shipping to travel, machinery to engineering, oil and gas, power and industrial projects, exhibition services, courier services, logistics and more.

First in the list was Saudi businessman Prince Al Waleed bin Talal Al Saud with a fortune of $28.1bn (BD10.6bn), while the Saudi-based Olayan family was placed second with $12bn (BD45bn) and Brazil-based Joseph Safra placed third with $11.9bn (BD44.8bn)

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