Published: 2020-01-02 14:07
Last Updated: 2020-01-02 16:46
Forbes Middle East has recently announced its list of the Middle East's top 100 business tycoons, and Mr. Michael Sayegh, Chairman of Sayegh Group, is ranked #55 in the Middle East and in the first place in Jordan.
Talal Abu-Ghazaleh, chairman and founder of the international Jordan-based organization, the Talal Abu-Ghazaleh Organization was ranked second in Jordan and 59 in the Middle East, while Ziad Al Manaseer, Chairman of Al Manaseer Group was ranked third in Jordan and 61 in the Middle East.
According to the list, Darwazah family was ranked fourth in Jordan and 67 in the Middle East, while Ghassan Nuqul, Chairman of Nuqul Group was ranked fifth in Jordan and 84 in the Middle East.
The Egyptian businessman, Nassef Sawiris ranked first in the Middle East, while Forbes listed the Emirati businessman Majid Al Futtaim second and Prince Alwaleed bin Talal of Saudi Arabia was listed 31 in the Middle East.
Forbes Middle East states that "family business in the Middle East contributes heavily to the region's economy. It estimates that the sector contributes 60% to GDP and 80% of the workforce. $1 trillion is estimated to pass from one generation to the next within the next decade."
Forbes said "the Middle East’s Top 100 Business Tycoons list was created by gathering information about business people in the region through our database and questionnaires. As a majority of businesses are family-owned, we factored the information available to disclose."
The report further underlines that the factors taken into account included business size, business scope, investments and market capitalization.