Hariri and Mikati among 5 richest Arab families of 2022

Forbes Middle East has released its "5 Richest Arab Families 2022" list, calculated as of December 29, 2022.  

Even though the Lebanese pound lost around 40.3 percent of its value from the beginning of 2022 until December 28, according to the magazine, Forbes Middle East featured the Mikati and Hariri, among three other families from Egypt and Algeria.  

The Mikati brothers, Najib and Taha Mikati saw a decline of $800 million to reach $5.6 billion in December compared to March. Najib, the wealthiest man in Lebanon, has been serving as prime minister since September 2021.  

The two brothers founded Investcom in 1982, selling satellite phones during the Lebanese civil war. Investcom was featured on the London Stock Exchange in 2005, and South Africa's MTN later bought the Mikatis' stake for $3.6 billion.  

With a net worth of $4.7 billion, the three Hariri brothers, Bahaa, Ayman, and Fahd Hariri, inherited their riches from the late Lebanese Prime Minister, Rafik Hariri.  

The three brothers sold their stake in Saudi Oger to their fourth brother and ex-prime minister, Saad Hariri.  

Bahaa, 56, is the founder of Horizon Group, a real estate company with investments in Jordan and Lebanon. He is the majority owner of Globe Express Services, a logistics company operating in more than 100 countries.  

44-year-old Ayman invests in startups via the New York-based Red Sea Ventures, which includes Nest, now part of Google. The youngest Hariri brother Fahd, 42, invests in the real estate sector in New York, Paris, and Monte Carlo, as well as in Lebanese banks.